Thursday, October 7, 2010

Budgets

Like most Australian families these days we live on a budget and as the budget controller I try to keep a fairly tight rain on our finances. I track our accounts daily, we have a set amount of money for every aspect of our lives and most importantly I have a fairly detailed spreadsheet that I update daily with incomings and outgoings (mostly outgoings).

So when I come across an idea that may be able to save us some money from our weekly spendings I jump right on it and give it a go. The latest idea I am trying is from a really interesting blog site I stumbled across a couple of weeks ago now. It is
http://120dollarsfoodchallenge.com
. The blog is written by a lady that quit her job and then had to live on centrelink benefits, and after paying her rent and other bills out of her fortnights benefit she only had $120 dollars to buy food for a fortnight for 4 people. The blog gives great tips on how to achieve this including where the latest best buys are and recipes with costings.

Well I decided as soon as I read this to go for it. I devised a 2 week menu plan which included 14 dinners, 3 baked items, 3 desserts and a breakfast that was not your standard cereal and milk or toast. I actually have five people in my household and 2 of us have food allergies (wheat and lactose) so I knew that it would cost us more than the $120 for the fortnight and thought I would just be happy with any savings on our $400 we spend each fortnight on food (and quite often it is a little more).

So my first fortnight began and I spent only $360 not $380 or more, and we are halfway through and not another trip to the super market. I have fed my family the yummiest meals, desserts, baking and breakfasts and there has been food left over for both weekday work lunches for my husband and I and lunches for the whole family over the weekend also. I have to say I am impressed so far.

I will post something fortnightly about my little experiment (how much we are spending and more importantly how much we are saving) I think this fortnight so far we have saved $40. Not a lot you say, but that is 2 music lessons for my kids a week. Or gym fees for both my husband and I or just simply $40 dollars more in the bank this fortnight.

I say that is great and I recommend anyone give it a go.