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Let’s face it, with the rising cost of gas it seems that the price of everything else is going up as well. My grocery bill has soared in the last year and I am easily spending $100-200 more a month for our family of three than I was last year. Cutting costs is an absolute must for my family, as I am sure it is for yours. Today we will discuss ways to save money in your monthly budget.

1)Meal Planning. Sit down and plan out all of your meals for the week and create a grocery shopping list based around that.

2)Use a shopping list. Every time you go shopping have a list written or typed on paper and stick to it. Impulse buys can add up and make it impossible to stick to a budget.

3)Pay with cash. Using a credit card to pay for items can increase your bill by 12-18%. Studies have shown that people are more likely to overspend when they are using a credit card.

4)Check out the Hillbilly Housewife. She offers menu planning and recipes for people on a limited budget or those trying to cut their budget to the bare essentials. She even offers a weekly menu and shopping list that will feed a family of 4 to 6 people for $45.

5)Sit down each month with your partner and spouse and create a budget for the month. Allocate every dollar coming in for the month to a category, whether it is food, entertainment, gas, or savings. Making and sticking to a budget may take some time. I know for my family it was a good 2 or 3 months before all the kinks were worked out.

6)Pick a Financial Guru. Dave Ramsey and Suze Orman offer great financial advice. They both have TV or radio shows, books and websites. They both have down to earth financial plans that when put into place will help your family reduce debt and start living on your income rather than creating more debt.

7)Declutter on EBay. Most people have too much stuff. The more things that you have, the more you have to clean or store. Take this opportunity to remove the clutter from your home and make some money as well. List everything that is worth something on EBay. If you do not have the time or expertise to list items yourself, find a business in your area that will do it for you. These EBay listing assistants will charge you a commission for photographing, listing, and shipping items. Give everything that is not sellable to a local charity.

8)Don’t be afraid to ask for help. There is a stigma attached to asking for a handout but there should not be. When it is a matter of your children going to bed hungry when there is not enough money to pay for groceries, then it is time to get help. Many more people qualify for food stamps than have applied for them. Local food banks are always willing to help people in need as well. Someday you will have the opportunity to pay it forward and give back.

9)Get rid of cable. Do you really need to have 100 channels to choose from? Most of the time there is nothing on anyway. Many television shows are now available to view online and at your convenience. Since becoming a Mom I can’t even tell you the last time that I watched a show live. Trust me you won’t miss it.

10)Really analyze your budget. Along with cutting cable, there are probably other services that you do not need. Look for things in your budget that have a recurring monthly bill. Do you only keep a cell phone for emergencies? Look into getting a prepaid cell phone rather than paying for a monthly service. Is satellite radio or DVR or the monthly movie rental service really being used or enjoyed by your family?

11)Turn off the lights. When leaving a room, turn off lights or electronic equipment that is not in use. Look for sources of electricity drain. Battery chargers are notorious for drawing power when they are not charging anything. Keep them unplugged. Switch over to compact fluorescent light bulbs (CFL) to save even more on your electric bill every month.

12)Eat at home. Dining out can be very expensive. Start eating more meals at home. Going to a restaurant should be a special treat, not an everyday occurrence. Your spouse and children should brownbag their lunch to help keep costs down. When you do eat out, find the low cost options in your area. A sit down restaurant meal for a family of four with entrees, drinks, and tip can cost around $50. You could buy groceries for the whole week for that.

Have prices gone up where you live? Is your family really feeling the pinch? What are some of your favorite cost cutting tips? I hope these ideas help your family live a bit more comfortably.

Warmly,
Mia