budget for a family of 4

I have never really budgeted....but I think that I need to start...I run to the store for a thing or 2, and end up spending 50-100 (target is evil). I'm not a shopaholic by anymeans, but I really want to start paying attention to what I am spending.

We are a family of 4....my oldest is 2 and potty trained, my youngest is 9 months, still in diapers, but his formula is covered by insurance.

Any ideas on how I can start learning to budget?

THanks!

Re: budget for a family of 4

are you opposed to leftovers?

for me and our budget, leftovers are a must.

Re: budget for a family of 4

I do my best to stock up when I see a good price on something. Target it my downfall too - I never spend less than $100, but I make sure to get a lot of bang for my buck.

And the supermarket, I'll buy meat in bulk when it's on sale and then split it up - or I go to the butcher and buy just what I need (ie. supermarket you can spend $5 on a package of ground beef that's a little over a pound, I get 3/4 lb from the butcher b/c that's all we need for 2 good sized burgers - and spend $3.50)

And I buy a lot of Target brand stuff - it's generally the same.

Message edited 8/5/2009 2:02:21 PM.

Re: budget for a family of 4

I use an Excel spreadsheet. I have Income and then a list of all possible expenses. I input the stat expenses in right at the beginning of the month/end of the previous month - Mortgage, Heloc, etc..) The formula will deduct the expenses from the income for a running total of 'remaining money'. Based on what is left after the 'musts' I start inputting the variable things - groceries, hygiene & self care, toys, birthdays, etc.. The goal is to make the remaining money be in the black so I don't need to dip into savings. Anything left in the black at the end of the month gets put in savings.

Seeing the number that I have allotted myself for 'random' items helps keep me in check. I KNOW that this month I have $250 in 'pin money' before I slide into the danger zone.

Message edited 8/5/2009 2:11:33 PM.

Re: budget for a family of 4

Re: budget for a family of 4

chili is a great budget meal. I add in 2 cans of beans.

lentil soup

make a pot of meatballs

a cassarole cookbook is a great way to start.

Re: budget for a family of 4

When I need to save money I just stay out of Target!!! Seriously, I cannot walk out of there w/o spending less than $100!

Re: budget for a family of 4

Re: budget for a family of 4

Re: budget for a family of 4

Posted by want2beamom

Posted by jenny

When I need to save money I just stay out of Target!!! Seriously, I cannot walk out of there w/o spending less than $100!

Its really crazy....its right around the block from my house....I pulled up to the house with the kids, and my husband was out front and asked if we had any frozen pretzels..I said no, I'll just run to target later....almost $100 later, I can home with nothing....I was sooo mad---its what made me realize that I need to start really paying attention

Re: budget for a family of 4

For a grocery budget I spend on average about $75 a week. Stay away from the processed food and things that come in boxes. Shop the perimeter of the store and eat fresh foods and you will save a killing. I cook most nights and make enough for DH to take leftovers for lunch. He never buys lunch...right there is a couple hundred dollars a month.

Cook once, eat three times. Pick up a package of chicken breasts, and the first night throw all the breats on the grill with a baked potato and some grilled zucchini. Night two, take some of the extra breast, shred them and make a quesadilla with some black beans, cheese, sour cream, avocado. Night three or for lunches make a chicken salad.

Meal planning is a must. I make a list and go to the store by myself even if it is at 11pm on a Sunday night. I shop the sales, plan my menu that way and am not brand loyal. I usually save about 40% on each grocery bill.

Just come up with a dollar amount for everything you want to spend. I have a friend who literally uses envelopes filled with cash each month to divvy up her budget. When the envelope is empty, that is it for the month. It take major will power, but it will keep you in check with your finances.

And I stopped going to Target all together. Seriously...unless I'm going in for something specific, my days of walking the aisles of target out of boredom are a thing of the past.