“Where has all our money gone?” Is the question that the wife asks her husband every paycheck, right? Where is our money going? I looked into my own personal finance to see where all of our money was going because we haven’t been saving a lot and we need to.
The biggest one I found was at the grocery store. I would make my list every Friday of the meals I wanted to make for the week and shop for those items. WELL… I strayed from that list. I would see an item on sale and say “Oh, I’ll get one”. I’d get back home and put the items away and what do I find?? 3 or 4 of that same item that was on sale, I didn’t need to buy that, so most of our money was being waisted on products that we already had.
The next one is my husband’s doing, ATM usage fee’s. He would go and get $20 out and get charged $2.50 each time, I went back through our statements, that was about $10-$15 a month just in fee’s, that is a tank of gas for his car for a week.
In having our little money chat for the week, we both agreed on this, watch what we spend and where we spend it. Our Credit Union doesn’t charge a fee to use the ATM, but instead of him going to the ATM I go in and take out $50 for spending and break it down to $5’s and $1’s he has saved a lot so far.
For my grocery spending I make my store list, then I get all the items out of my pantry that I need for my meals, then I won’t buy it since I physically saw that I have it.
I am hopeful that by doing these two small things that we will save over $100 a month and that is a small amount but a good start for savings.