Grocery Budget Challenge
I want you to calculate how much you have spent on groceries over the last 3 months, so your monthly grocery budget spend. The steps are below:
- Simply go through your bank or credit card statements and add up all amounts spent on groceries over the last 3 months (so working backwards from today by 3 months) and total up how much you spent. If you want a more accurate figure, go back 6 months and total up the grocery spend.
- Divide the total grocery spend you calculated by 3 or 6 months (how ever many months you went back in your statements).
This will give you your average monthly spend on your grocery budget.
With the above 10 tips in mind and your average monthly spend amount, I then want you to try and decrease your average grocery budget from what you calculated by 10%. So if your grocery budget came to $700 a month on average, I want you to try and cut it down by 10% ($70 in this example).
See how you go! You might find that you can easily cut it by 10% or more, and can redirect those savings to another financial goal! And even if you can only save $10 a week on your groceries, that’s still a whopping $520 a year back in your pocket! How awesome is that?! 🙂   Â
For more tips to save on your grocery budget check out 6 Tips to Drastically Cut Your Grocery Bill and 15 Tips to Reduce Food Waste and Save Money!
