My Twentysomething Life

I Do, Make, Read, Watch, Eat…

Money, Money, Money

on February 6, 2013

I mentioned before that Adam and I are taking a Financial Peace University Class.  We are starting Week 4 tomorrow.  The homework for this week was to create a zero-based budget.  This is when you figure what your take home pay and then you give each dollar a name so that after subtracting all your expenses you are left with $0.  Dave Ramsey says that if you don’t give every dollar a job it will find a way of wandering away.  And I speak from experience, watching our money wander away, that it will happen.  Doing this budget has helped me look at our expenses and see where we are spending too much.

Here is an example.  When Adam and I first got married, we made a budget and in it we allocated $100 a week for groceries.  We went on this way for the entire school year.  In May when I got a job, we realized that we probably were not going to be able to maintain this while I was working and Adam was in school, so we adjusted it down to $70 a week.  When we made that adjustment and realized that we still had plenty of food to eat we wondered what we had been spending the other $30 on every week.  And I am still not sure.

Now that we are looking at our budget again, and looking at Dave’s suggested percentages, we realized that we are still spending too much on food.  So we adjusted it down to $50 a week.  This week was a trial run, and I was very surprised that I still got lots of food and snacks and spent $50!  I mean, look at all this food I got!

IMG_1496The menu for the week:
Spaghetti, zucchini, and garlic bread
Mini chicken pot pies
Hot Dogs and French Fries

Consider me amazed.

2 responses to “Money, Money, Money

  1. Luke says:

    A whole week and you’re only going to eat 3 meals?! I’d say that would be cheap.

    I’ve found the same thing is true when budgeting time…It’s amazing how much more you seem to have when you’re careful about how you spend it.

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