Recently, Tia Armenta, one of our awesome Local Listing Pro & Realtors, wrote an article called “2 Easy Ways to budget for a Mortgage Payment.”
Tia also tells us that budgeting for groceries goes right along with being a homeowner and grocery shopping can be daunting and expensive and it’s actually her 2nd largest bill every month.
Tia shared “When I started budgeting, groceries were my biggest challenge. Through trial and error I now have a system in place that’s easy for me to follow. It does take some time and planning but it makes dinner throughout the week a breeze. Start to familiarize yourself with the cost of the items you purchase regularly, when you go to the grocery store pay attention to the prices. If you don’t know the price of things, you can’t budget accordingly. I personally know the approximate price of everything I buy and this comes in handy when I make my grocery list.”
So… how does one budget for groceries? Tia suggests that on Sunday, she sit down with the grocery ad, a notepad and a budget of $150. She’ll first look at the ad to see what is on sale and then she’ll base her weekly dinners on the what is on sale that week. She’ll plan 5 dinners a week and tries to keep dinners between $10 and $15. She only plans 5 dinners because her family will usually do a night or two of leftovers.
“So as I’m writing my list, I write the cost of the item next to it. After my dinners are planned, I start to write down the things we need like lunch and breakfast items, snacks, toiletries, etc. When I am done writing my list I add up the total and I know how much I will be spending at the grocery store,” Tia says. If she’s over budget, then she’ll adjust accordingly and would change a dinner or skip an item all together. She tries to stay under $120 so she has a little bit of money for the rest of the week. You never know when you might run out of something.
At first this will be challenging but with practice it will get much easier.
So why is this important as a homeowner??? Well… Tia and her family paid off their ALL OF THEIR debt in a matter of two years (while working as a waitress and her husband is an HVAC technician… and they have 3 kiddos) by being grocery budget conscious and are now just a few years away from owning their home FREE & CLEAR. Well done Tia!
If you have questions about budgeting for your mortgage payment, budgeting for groceries or saving money in general – Tia is an expert! You can reach Tia on our Local Listing Pro web page, call her at 480.233.8317 or by email at Tia@LocalListingPro.com.