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Living on a Tight Budget: Should Groceries Be the First Place You Cut?

January 8, 2019 By MelissaB Leave a Comment

If you’re like me, the last few years, you may have felt that you’re simply treading water when it comes to income and expenses.  It seems every time our income goes up, our expenses go up, and I’m not talking about lifestyle inflation but rather insurance premiums and deductibles, etc.

Like many people, I try to cut corners to make our money stretch as far as I can.  I’ve certainly had times a few years ago when I bought the cheapest groceries that I could find by using coupons and sales, even though the food was processed and not that good for my body.

I rationalized that I was being frugal, and, I’ll admit it, I was proud of myself.  Never mind that we were eating casseroles that we didn’t really like made with processed foods or that the leftovers often went to waste because we didn’t want to eat the meal again.  Never mind that both my husband and I had cholesterol well over 200 even though we were in our thirties.

Change in Eating Habits

However, over the last few years, my opinions on grocery shopping, the foods we eat, and how to save money have changed. I still like to save money (and I still need to in order to make our budget stretch), but now I do it differently, and I feed my family differently.  A few years ago, I went Paleo.  I dropped a lot of weight, and my cholesterol level settled around 155, even though I was a few years older. True, our grocery budget went up, but not by as much as I expected.  I learned ways to buy healthy food at a reasonable price.

Where Else Can You Cut Besides Groceries?

Should you Cut groceries first?
Where would you cut first?

Sometimes, especially when money is tight, groceries seem like an easy place to cut.  Convenience foods bought with coupons can be had for a steal.  Take a look around Pinterest, and you’ll find many posts of bloggers touting how little they spend for groceries.

But is this a good thing?  I know groceries are typically one of the largest monthly expenses for a family, but should this automatically be the place we look first to reduce our budget?  After all, there is great truth in the adage, “Pay your farmer now, or pay the doctor later.  In fact, “Americans spend nearly 20% of their income on healthcare costs, while on average spending 10% of their income on food. . .Considering the age-old adage, ‘an ounce of prevention is worth a pound of cure’ may be the first step to attempt to reduce healthcare spending—and the key place to start is food consumption.  If you start to consider your diet a form of preventative health care, you might start rethinking your daily meals” (University of New Hampshire).

Take a look at your budget.  If you don’t automatically slash your grocery budget, where else can you cut expenses?

If you don’t short change your body healthy foods, you’ll save thousands on health care later on.  Meanwhile, why not consider dropping your smartphone and getting a “dumb” phone?  (Yes, I still have a flip phone for emergencies that we bought 10 years ago.)  Can you drive your current vehicle a little longer so you don’t need to have a new car loan?  Can you drop cable?  Do you have subscriptions you’re paying for but you don’t use?  Likely, there are several lifestyle choices you can make to cut your expenses without compromising the quality of food you can buy and eat.

Do you cut other expenses so you can continue to buy quality foods, or do you prefer to slash your grocery budget?

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: budget, Frugality, Saving Tagged With: budget, budgeting, frugal grocery, frugaler, groceries, grocery, grocery budget, tight budget

Help Your College Student By Adding Them as an Authorized User to Your Credit Card

October 22, 2018 By MelissaB 1 Comment

I got my first credit card when I was in college.  At first I was responsible, but then I began to charge more than I could afford on my meager student salary.  I still remember the first purchase I made on my credit card that I knew I could not pay off immediately—a $37 tennis racket because my friend and I wanted to play tennis that summer.

Unfortunately, that lead to a habit of over charging because I had very little income coming in.  My experience is not unique.  Approximately 90% of undergraduate and graduate students who have credit cards carry a balance each month (Debt.org).

Boost a Student's Credit Score
Boost Student’s Credit Score

If you’d like to help your teen or college student develop a responsible credit pattern as well as a good credit score, the secret may not be to get him his own credit card, but instead to make him an authorized user on your account.

As an authorized user, she’ll be able to use your card.  You can either pay what she charges or have her pay what she charges.  In addition, you’ll be able to keep an eye on her purchases and make sure she is using her privileges responsibly.  This can get her into the habit of responsible credit card use so she can avoid debt in the future when she has her own card.

A Few Caveats

Before you pursue putting your child on your account as an authorized user, you’ll want to cover a few bases:

Have a Strong Credit Score

If you add your child as an authorized user to your account, she will “inherit” your credit score.  If you have a high credit score (generally 700 or above), you will be giving your child quite a gift.  With a high credit score, when she finishes college, she’ll more easily be able to rent an apartment and get her own credit card later in life.

If your credit score is low, you’ll be saddling her with an obstacle to overcome.  It’s better for her to have no credit score than to inherit your low credit score.

Choose a Card that Reports Authorized Users to the Credit Bureaus

Not all credit cards report authorized users to the credit bureaus, which means your child won’t get your credit score.  In general, the major credit cards do, while credit unions may not.  To be sure before you add your child, confirm with the credit card company that they will report authorized users.

Only Do This With Responsible Children

Since you are ultimately required to pay any expenses put on your credit card by your child, only put a child who is financially responsible on your card as an authorized user.  If your child has been irresponsible financially in the past, there is no use in tempting him with your line of credit.

See If There Is a Fee for Authorized Users

Finally, keep in mind that some credit cards charge a fee to add an authorized user.  You’ll want to verify this is not the case for your particular card before you add your child.

If you’d like to help your child develop financial maturity and secure a good credit score, consider adding him as an authorized user.

Have you added a child as an authorized user or were you added as one?  If so, what was your experience?  Would you recommend doing this?

 

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: credit cards, Credit Score Tagged With: credit, Credit Score, student credit

How to Coupon for Healthy Foods

July 23, 2018 By MelissaB Leave a Comment

Years ago, during the coupon craze, I bought my share of convenience foods that I could get for just pennies.  Thanks to couponing and buying the deals, I was able to save a great deal of money on groceries.  But over the years, I found that the money I saved wasn’t really saved after all.  Instead, the money just went somewhere else—to the doctor.

I had high cholesterol, high triglycerides, and after a while, serious stomach ailments that required me to go see a specialist.

I eventually switched to a Paleo diet, focusing primarily on eating fresh fruits, veggies, and some meat.  Since the change, my cholesterol is nearly 75 points lower, I no longer have high triglycerides, and my stomach is much improved.

I still try to keep the grocery budget trim, but it’s much harder to do so without using coupons.

Coupons for Healthy Foods?

Coupon for Healthy Foods
Couponing for Health

For years, I just assumed that there are no coupons for healthy foods, especially foods that aren’t processed, but that’s just not true.  If you know where to look, you CAN find coupons for healthy foods.

Where to Find Coupons for Healthy Foods

The best place to start is the manufacturer’s website.  Here are a few of my favorites:

Organic Valley—sign up for the mailing list, and you’ll receive coupons straight to your e-mail box.

Earth’s Best Organic—you’ll find coupons for baby items here.

Blue Diamond Almonds—sign up for their newsletter, and you’ll regularly receive offers

Whole Foods Coupons—you’ll find coupons for a wide array of products sold at Whole Foods

Other Ways to Get Coupons

There are other ways that I like to get coupons for healthy foods:

Facebook

Some companies will occasionally offer a coupon when you like their Facebook page.  This is my favorite time to like the page.  Also, companies sometimes post coupons on their Facebook page as their status update.

Write to the company

I admit, this sounds old fashioned, but I’ve had great success with writing to the companies individually.  I will find the e-mail address of the company on the product, and then I’ll send them an e-mail.  I usually let them know why I like their product and thank them for making it.  My kids have food intolerances, so if the company makes a product my kids can actually eat, I thank them for that.

I don’t specifically ask for coupons, but more than 50% of the time, they send me coupons.  Some companies are very generous and send several high value coupons.  If you create a stock letter for this type of e-mail, you can send out several e-mails, each to different companies, in a relatively short period of time.

Of course, just as when you’re using coupons for processed foods, the best way to stretch your savings is to stack the coupon with the item when it’s already on sale.

While getting coupons for healthy foods is a bit more difficult than couponing for processed foods, you still can use coupons to lower your grocery bill.

What are your favorite strategies for lowering your grocery bill when shopping primarily for healthy foods?

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: Coupons and Discounts, Frugality, Saving Tagged With: coupon, couponing, health, healthy

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