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Holly Meyers
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43
MBA Graduate, Entrepreneur, Investor
04/20/20 at 1:15PM UTC
in
Money

Intro to Budgeting

It's probably safe to say that most of us are taking a good look at our budgets right now. For most of us, the three largest expenses in our spending is: 1. Housing 2. Transportation 3. Food If you're looking to tighten your budget a bit, your food bill is the best place to start. Why? Housing is the most difficult to fix short term (though possible). Transportation can be difficult to fix too. Though right now, you shouldn't be travelling much, so hopefully you're saving some extra cash in this area automatically! That leaves food - groceries, eating in/out, etc. Since this is a variable expense, ie it can change month to month, it's also easier to change - whether it's challenging yourself to make meals from the food you have in your pantry to taking a closer look at what's on sale at the store, small tweaks can really add up! How are you adjusting your budget?

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DeLisa Dawkins
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113
Real Estate Professional, Marketing Expert
04/30/20 at 9:05PM UTC
I m pleasantly surprised at how much money I DONT spend! I cook at home (eat out maybe once every 2 weeks). I am not driving as much, so gas is saved. No mani / pedis and frequest trips to the salon. A more simpler life.
Laura McCann
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325
Driving results through people engagement
04/27/20 at 9:32PM UTC
The hubby and I have implemented a budgeting system for the first time since our wedding! Yikes! He is looking for a new role and although i'm in an essential industry, I want to be prepared for a downturn. Our biggest reduction is in eating out. The hubby is a germo-phobe and does not trust any takeout food. We are eating 100% at home. Our grocery bills have skyrocketed and I'm not doing as much sale shopping as I normally would. I feel we are in a good spot. I've also really looked at my monthly "subscriptions", i.e. Sephora PLAY box, Eby underwear box, Apple Music, etc and gotten rid of them. Don't need it right now!
Deborah Mitchell
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903
Coaching for the mid-career Woman
04/21/20 at 2:20PM UTC
One of the lovely ways my budget was tightened, was my gas consumption. Car is not going places, car is not consuming gas. easy peasy. Going forward, I am assessing my house and car insurance to ensure I have the right coverage and am paying a fair price.
morales971
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430
An essential worker for the power of positivity.
04/20/20 at 4:04PM UTC
Great question and thank you for posting about this important topic! I removed hazardous and unnecessary expenses. I quit smoking - right now, the last thing I need is to further jeopardize my lungs. A pack of cigarettes can easily run $7/pack. Bye bye! Also, I stopped spending money on things I don't really need. My beloved Sephora and Ulta will have to set upon the back burner for now. A $40+ foundation is just not realistic for my current budget and drugstore brands are just as good and much more affordable these days.
Amaryllis aka The Latin Phoenix
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761
On a life journey of growth
04/20/20 at 1:22PM UTC
That was a great question of budget and what adjustments have been made. I would agree with you on the food expense. As an adult, it's so much easier to grab-n-go vs. stay in and cook. One of the things that I have learned to enjoy again is cooking. Being an empty nester, I really could not "stop" cooking family size meals and a lot of food was bought. However, due to this stay at home situation, it has enabled me to really think ahead, make a menu, cook, and freeze foods. Once we are able to move about again, I would probably treat myself to an outing 1-2 times a month and continue with making "inventions" in the kitchen. Thank you for the post! :)
Holly Meyers
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43
MBA Graduate, Entrepreneur, Investor
04/20/20 at 1:26PM UTC
Yes! I also find myself trying to find a balance between cooking at home and stretching my food budget to include supporting local restaurant businesses by getting takeout. Definitely requires some creativity to find that ideal balance.
Amaryllis aka The Latin Phoenix
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761
On a life journey of growth
04/20/20 at 2:24PM UTC
Holly Meyers, I've been ordering pizza, stromboli, subs.....rewind...repeat....LOL!!! I have also started back into homemade soups and freezing those.

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