Budgeting 101- Part 2


Budgeting 101- Part 2
Spending

Let's continue on with our budgeting series. If you missed the first post, you can access it here. Our series will follow a specified order, so be sure to catch up.

Being the 1st of July, our assignment this week is very appropriate for what we will be talking about- spending. We can all use a little reality check when it comes to our spending. Just this week, I realized that my deal finds were getting a little carried away. My grocery store has been running triple coupon sales for the last few weeks. I have broken my shopping up into many smaller trips. Just last night, though, I realized that I'd exceeded my grocery budget because I wasn't paying much attention on account of the smaller purchases I was making and the great deals I was finding.

How do you spend? Do you spend whatever cash is in sight? Put all of your purchases on your credit/ debit card and worry about it later? Use cash only? There are so many questions related to how you spend. It's also important to know what you spend money on. These two issues form the basis of a successful budgeting plan. Let's move right on to homework as this month you will be fast at work, tracking your spending habits.



Homework
Your goal this month is to track every dollar you spend, every dollar. At times, you might find this task to be a bit tedious and maybe even overwhelming. Are you up to the challenge? Here's how to begin:


  • Find a small notebook or binder that can travel around with you in your car or purse. This will be used to track purchases right away.


  • Begin the month by spending as you normally would. Make no changes to your current habit of spending.


  • Once you spend money, make a note in your binder. You only need to know what the purchase was and the total amount. It's important to write down what you purchased as soon as possible. Not only do we forget things quickly, but particularly if you are accustomed to using cash, you will find that money seems to mysteriously "disappear" if you don't pay attention.


  • Categorize your purchases. At the end of each week or at the end of the month, group like purchases. For example, what was the total amount you spent at the end of the month for groceries, gas etc. You might find it easier to track your spending using a spreadsheet like the one found here (MS Excel document). Knowing what you spend on a given month is the start of charting what you plan to spend coming up in future weeks.

Don't scrimp on homework this month. You have a difficult task ahead of you, but it will all be worth it sure enough!

Budgeting 101 Part 1 Budgeting 101 Part 3

Freebie Alert: Free copy of Suze Orman's book Women & Money


If you saw the recent rerun or original airing of Suze Orman on the Oprah Winfrey show, then you know that she was offering a free download of her book, Women and Money: Owning the Power to Control Your Destiny. I am personally indifferent on Suze Orman's delivery style but she has some decent strategies for debt management. For a limited time, the book can still be downloaded here.

Yippie! My savings this week- 6/28/08

It's been a crazy week, but I still managed to snag a few great deals at Walgreens and Harris Teeter which is STILL running a triple coupon sale. Here's what I got & how I got it:


Walgreens:
I got a pretty amazing deal at Walgreens this week although it doesn't look like much. If you want to replicate this deal exactly you'll have to do so today since this deal is good only June 27-28. Each month Walgreens publishes a monthly saver catalog (also accessible online). It has coupons (Internet Value Coupons or IVC) good for that month. On the 27 & 28th of June there is an overlap where both June & July's coupons (linked here in PDF format) are usable. Luckily, there are a few items that after manufacturer's coupons make a pretty sweet deal.

I got:

  • 2 Lamisil creams- $15.99 each-$5 July IVC (doubles automatically b/c I got two)- $3 June IVC (triples automatically b/c I got three)- buy-one-get-one free (BOGO) manufacturer's coupons (4/13 SS)= 0.01 overage for both.
  • 2 packages of Theragran- M Multivitamins on sale for $4.99 & buy-one-get-one free. $4.99 each- $4.99 (automatically deducted for the B1G1 sale)= $4.99 for both

  • 3 bottles of Maalox (35 ct. chewables)- $3.99 each- $2 July IVC (triples automatically b/c I got three)- $2 June IVC (triples automatically b/c I got three)- $2 manufacturer's coupons (6/1 SS)= 2.01 overage for each bottle!

  • 5 bags of planters trail mix- $2.69 each- Walgreens in store coupon (found in the sales flyer) making these bags 0.99 cents each. $2.69-$1.70 instant savings= 0.99 cents per bag
My receipt showed that I saved $77.48 & my total... drum roll please ...................... $3.40!

But, that's not even the best part. I also got a $1.50 off catalina that printed at the end of my receipt good for anything in the store on my next purchase for buying the Planter's nuts AND I will file for the June rebate program that gives a full $4.99 back for one package of Theragran-M multivitamins. That really means that after coupons and rebates, Walgreens paid me $3.09 to take these items out of the store!




Harris Teeter:
I had some time to run into Harris Teeter quick. I adore the higher-ups of the Wilson, NC store that decided triple coupons should continue on. I scored:



  • 3 bottles of Motts apple juice- $2.69, used $.75/1 coupon= 0.44 each
  • 2 Heluva good dips- on sale 2/$3, used $.50/1 coupon= free!
  • 3 gum toothbrushes- on sale 4/$3, used $.75/1 coupon= $1.50 overage on each- WOW!
  • 1 pack of dial soap- on sale for $1.89, used $.60/1 coupon= 0.09 each
  • 1 bottle spray & wash max stain fighter- $2.99, used $.75/1 coupon= 0.74
  • 1 Home Run Inn pizza (my hubby's favorite kind)- on sale BOGO for $3.62

I started off with a balance of $31.63 and paid $1.53! Oh happy day!

You can read all about how to work a good double/ triple coupon sale here. Happy shopping!

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Grocery Savings: How to Work a Double & Triple Coupon Sale




If you ever see this sign on the road, you should pull over immediately!

In fact, you might consider just running into the store to take advantage of tremendous savings. Just this last week, I snagged a few bags full of groceries for only $2.70. You can read about it here. These sales are a serious way to save BIG at the grocery store.

Working a double or triple coupon sale & really getting a great deal takes a little planning on your part. It is an art! Despite what you might think, there is a little more to working a double/ triple coupon sale than just clipping coupons. While there are a number of strategies, I will share the way I personally maximize store promotions and double/ triple coupon sales to save the most money.

First, let me say that each store has different coupon specials and policies, so you should first ask your local grocery store what they offer. In eastern NC, we have two stores that I know of (Kroger & Harris Teeter) that double coupons everyday up to $0.99. In this case, a $0.75 off coupon doubles to $1.50, for example, while a $1 off coupon or higher is deducted at face value only. Every few months these stores will also run triple coupon sales & that's when the goin' gets good! So here's how I work up a good sale:



  1. First, things first. Get organized. I remember the first time I tried a triple coupon sale. I entered the store with a bunch of coupons stuffed in my pocket. To my amazement, there were coupon- goers with binders full of coupons. I realized then that I was way out of my league! Needless to say, I have learned.... I now sift through all of the old coupon circulars for those coupons that are 0.99 cents and under. I file these clipped coupons into groups and keep them separate from the normal, everyday coupons I use for groceries and such. This way I don't spend a bunch of time in the store searching for coupons saying "oh, yes... I know I have a coupon for that somewhere..." I'm sure you're smiling if that has ever been you. This means that I carry two coupon files into the store- one for the items I know are on sale & under 0.99 cents and my everyday coupon files (this is just in case).


  2. Next, search the store's sales flyer/ policies. So, the real secret of double/ triple coupon sales is combining a sale that the store is already running with triple coupons. Working a real good double/ triple coupon sale means getting most of your purchases free or almost free. You mean it's not good enough that a store runs a great deal? Nope! As an example, a box of $4 cereal with a 0.75 off coupon that doubles is not a great deal if I can get it cheaper without the coupon any old day at another store. However, if that same $4 cereal is buy-one-get-one-free (BOGO) (and this items rings up at half price for the BOGO sale), then I would look for a $0.75 coupon. In a double coupon sale my cereal would be $0.50 & in a triple sale, I would make $0.25. Here's how it would work:

My $4 cereal rings up $2 on sale. Then, $2- 0.75 coupon- 0.75 doubled automatically= $0.50 cereal! Pretty awesome.


You would repeat this for other items on sale. Obviously, you score big time if your store gives overage. In the above example, if it were a triple coupon sale instead of a double one it would be more like this:


$2- 0.75 coupon- 1.50 tripled automatically= free cereal+ 0.25 cents overage. Even more awesome! Some stores will apply this 0.25 cents to other items in your order & others will not give overage. You need to ask. Luckily, my store offers overage. So, here's my stocked pantry of cleaning products. Each of these items were free & the kitchen cleaners gave 0.75 overage each. Hello! Needless to say, I'll have really clean toilets...



I digress...When you search the store's flyer, you identify which items are on sale. This can be a general sale, buy-one-get-one-free, etc. Combine this with the coupons you have that are under $0.99 & you're on your way to savings. I bring my second folder that has coupons over $1 because on occasion you still find a great deal. This was the example on my last grocery trip. The new deli sub sandwiches were BOGO. They rang up half price at $1.74. I had a $1 off coupon making them 0.74 each. Not bad for sandwiches that we originally $3.47.


It's also important to know the stores policy on coupon usage. For example, my store has a whole host of policies- up to 20 coupons per day per person, only three of the same coupon at a time, Internet printables limited, etc. This is a big deal when you're planning things out so be in the know.


3. Get in early. It never fails... others find out about good deals too. And you better bet the "pros" know how to work a coupon sale too. I find the best time to get to the grocery store for a good sale is early in the morning when the shelves are stocked. Off to work? No worries, you can also get full store shelves either the first day of the sale or about four days after the sale has begun when the stores are resupplied.

4. Don't be choosy. Hmm, this is a hard one to explain. I once heard someone say that we do what we have to do in order to do what we want to do. The same sort of philosophy applies to these sales. Sometimes you buy what you have to in order to buy what you want. What do I mean? Earlier, I showed you the example of Lysol kitchen cleaners. Now, I'm not one to be choosy about what I use to scrub the toilet but it really was a non-issue since Lysol, not any other product, was on sale & I had 0.75 off coupons. By using my coupons during a triple coupon sale, the store actually paid me $0.75 to carry each bottle out of the store. Now, in order to snag this great deal, I had to buy this particular product. I then used the 0.75 and applied it toward other grocery items that I wanted. You see? I get what I have to in order to get what I want.

As a general rule, I never buy items that we really will not use or give away, not even if it's free or a moneymaker. I don't buy pet food, for example, because we don't have a pet or know anyone who does. It would simply go to waste. I do buy items the items that are the best deal and that changes quite frequently. We are not choosy about what we use in the house. Sure, I have a favorite this or that. So, I often use the savings I get to apply toward the things I really want. So, could you stand to be a bit more flexible? If so, this can totally work for you!

Well, that's the best strategies I have found so far. Like you, I am a diva in constant training. I wish you many happy double/ triple coupon shopping trips. Was this article helpful or do you have something to add? Post a comment. For now, off to find more great deals....

Deal Alert: Walgreens $5 off $20 purchase Friday, June 27th only

Wanted to let you all know that there is a $5 of $20 purchase (after all other coupons are used). Walgreens also has a free-after rebate program. You could apply the $5 off coupon to items that you will get for "free" after rebate and technically make $5 for your trouble. You can print the Walgreens coupon good for Friday, June 27th only here.

Get your free credit report


Have you checked your free credit report lately?


A few years ago, Congress passed legislation that allows us one free copy of our credit report each year from each of the three major credit bureaus: Equifax, TransUnion & Experian.

There are a host of companies that advertise this service, but many ask you to pay for credit monitoring services before you gain access to your credit report. I have found the best (and truly free) source to be annualcreditreport.com. You won't get your credit score, but you will get a completely free copy of what's on your financial records after verifying your identity. Instead of downloading all three reports at the same time, I personally download a copy once every four months (each time from a different agency). This way, I can monitor anything that doesn't look right.

Consider heading over to the site for the start of your financial check-up.