Beating Broke

Personal Finance from the Broke Perspective

Simple Things You Can Do Today for Financial Security

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You want to make sure your family is financially secure, both now and in the future. However, finances can get complicated, so you might feel overwhelmed as you look for ways to do this. If you want to start taking steps to keep your family safe, here are some simple things you can do today for financial security.

Write Your Will

While this won’t directly benefit you, it will provide financial security for your family in the future. Make an appointment to write your will. That way, you know for sure that anything you own will stay with your children and keep them secure. You never know when something tragic could happen, so you should be prepared. This includes your finances. Writing a will can be complicated or simple, depending on what kinds of assets you have. After it’s written, it must be signed by two witnesses who are not beneficiaries. Then you can file it away and have the peace of mind it provides.

Set Up a Budget

You’ll never get a handle on your finances if you don’t know how much money you’re spending. If you don’t already have a budget, make a point of establishing one as soon as possible. Calculate how much money you make, then figure out exactly what your expenses are each month. As you calculate expenses, you should also look ahead to any future needs and start figuring out how you’ll pay for them. For instance, you can’t neglect your child’s dental health. If their dentist says they need orthodontic care, you’ll want to be able to afford it. Receiving orthodontic treatment by the age of seven is considered to be the best approach. If you use that as a savings goal, you won’t need to worry about taking out loans to pay for it when the time comes.

Invest In Your Home

While your house is your family’s secure shelter, it is also an investment that you’ve made. You paid a lot of money for that house and you want it to retain its value. Make sure that you maintain your house correctly. While this will cost you money, it will also provide a buffer for your finances. You won’t need to worry as much about serious repairs if you’re fixing things while they’re still minor issues. You can also purchase the things you need in order to keep your house safe. A generator, for instance, will provide constant electricity in the event that your power goes out. This will keep your home warm, avoiding the damage that can occur without power in a house. These investments are sometimes expensive, but they can ultimately save you money and keep you financially secure.

Be Careful With Debt

Sometimes, debt is necessary. You may need to take out a mortgage or put an emergency expense on your credit card. However, it is easy to get overwhelmed by debt and allow it to ruin your finances. If you want financial security, you need to be very careful with the debt you acquire. If you’re already in debt, take an honest look at it and make a plan to pay it off. If you’re not in debt, think carefully before you take on any. It might be tempting, but it could also threaten your family’s financial security.

If you want financial security for your family, it is essential that you pay attention to your finances. You need to be careful with the money you’re bringing in and use it to provide your family with a sustainably secure life. By applying these tips, you can get started on achieving financial security today.

The Benefits of Buying Only Necessary Groceries Each Week

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Benefits of Buying ONly the Groceries You Need

For the last few years, I have had a higher grocery budget, so I’ve stocked up on food. I do this for two reasons. First, we have food intolerances—specifically, we can’t eat gluten or dairy—so we need specific foods in the house. Second, I find having a stocked pantry makes mealtime easier. I never need to go out to eat because I have everything to make several meals, depending on what we’re hungry for. However, I recently watched a YouTube video that intrigued me. Based on this video, I’ve experimented with buying only necessary groceries each week for the last few weeks.

Steps I Took to Implement This Change

During the last few weeks, I’ve set a grocery budget of $140 per week for my family of four, which is much less than the $215 a week I typically spend.

I make a menu plan and grocery list the night before I go to the grocery store, so I know what meals I’ll cook during the week. I also try to choose recipes that will utilize ALL of an ingredient. For instance, I needed to buy green cabbage for a stir fry. But I only needed to use half the head of cabbage, so I picked another recipe that would use the other half of the cabbage later in the week, so I used ALL of the cabbage up that week.

Benefits of Buying Only Necessary Groceries Each Week

While I never thought I would enjoy shopping this way, I did realize several benefits of buying only necessary groceries each week.

I Saved Money

We saved a lot of money shopping this way. Over two weeks, we saved $150! This was in part because we were not stocking up on food. However, we also saved because I had limited food in the house, and we HAD to utilize the food we bought.

We Had Less Food Waste

Benefits of Buying Only the Groceries You Need

We typically have very little food waste, but shopping this way eliminated food waste. As I mentioned, I was mindful of finding recipes that would use up ALL of an ingredient. Previously, that other half of the green cabbage might have lingered in the refrigerator for a while. We would use it. . .eventually, but when we did, we might have to cut out some bad spots because we let it sit too long before using it.

Final Thoughts

This way of shopping enhanced how I shop and menu plan. Even better, the benefits of only buying necessary groceries each week were that we saved money and reduced food waste.

However, even though this strategy worked for me, I like to have a stock of food at home in case we can’t shop due to bad weather or limited supplies. From now on, I plan to stock up occasionally to resupply my pantry. Still, for the foreseeable future, I plan to buy only what I need and continue with this experiment to see what other benefits I realize.

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Our Favorite Ways to Combat High Meat Prices

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Ways to Save on the High Cost of Meat

The prices in the grocery store keep rising, especially for protein. Like most people in the country, we try to keep our grocery budget within budget despite inflation. However, we still want to eat healthy meals and rely on something other than carbs to fill us up. So instead, we use these ways to combat high meat prices.

But First, a Clarification

We are not vegetarians and have no desire to be. We like carbs, but we don’t eat a carb-heavy diet. Instead, we try to eat a well-rounded diet, including plenty of vegetables and fruit.

Our Favorite Ways to Combat High Meat Prices

Here are the strategies we use to save when buying protein.

Buy Direct from the Farmer

For years, my husband and I bought a ¼ side of beef direct from the farmer. We’d get a lot of ground beef and cuts like chuck roast, T-bone steak, and stew meat. We didn’t buy the latter items at the grocery store because they were too pricey for our budget. However, buying directly from the farmer saved us money so that we could enjoy the more expensive cuts of meat.

Buy Clearance Meat at the Grocery Store

I love to buy meat from the clearance rack for other types of meat. For instance, a week after Easter this year, our local grocery store had eight-ounce packages of diced ham on sale for .49 cents! I bought five of them and used them in soups and omelets over the next few months. We also frequently find sausage on clearance. My husband cooks those up on the weekend, slices them, and packs a few for his lunch. Typically, he’ll eat about ¾ of a sausage with his lunch.

Use Meat as a Condiment or Meal Component

Ways to Combat High Meat Prices

We almost always use meat as a condiment or meal component. For instance, we’ll add about three ounces of meat to our spaghetti, which makes four servings. Or, we’ll make soup with one-half pound of meat in it. Likewise, stir-fries are a great way to eat a lot of vegetables with a small amount of meat.

If we make steak, we’ll serve the four of us a portion of the steak so that a 10-ounce steak will feed all four of us. We’ll have ample vegetables on the side.

Add in Some Starch to Stretch the Meal

One other idea is to add some starch to stretch the meal. For instance, I like beef stew as is, but my husband and kids always add a bit of rice to it. They enjoy the flavor, and it helps to stretch the meal further.

Final Thoughts

While we are all struggling to maintain our grocery budgets now, know that this time of high inflation will recede. However, we always combat high meat prices with these strategies. We prefer to eat this way, regardless of what the economy and grocery store prices are doing.

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How to Feed Your Family on a Low Budget

5 Tips to Save on Groceries This Year