I’m Watching My Budget..Why Am I So Poor?

Why am I so poor? I am organized, I watch my money, I only shop sale, I am into couponing. But, without fail, month after month I look at my bank account and I have WAY less money than I want.

Why?

Does this sound like you?

The truth is, with couponing and budgeting and shopping sales and other things you might be doing, you are PROBABLY doing it wrong!

Keep reading to learn these KEY REASONS why you aren’t being as smart with your money as you think. Some of these will really BLOW YOUR MIND, no joke. Here we go..

You Suck Grocery Shopping

So harsh, I know but the truth hurts sometimes. There’s a right way and a wrong way to do grocery shopping, in terms of money savings, that is.

Here are some quick tips to help you out…

• Make a list
• Shop what’s in season
• Visit more than one grocery store
• Plan your shop in advance
• Use apps
• Use coupons
• Never pay retail

Ok, lets break this down, shall we.

Make a List, Check it Twice

First, always, always make a list. I used to shop without a list. What a bad idea! Not only are you unprepared but you’ll end up spending more money and not get all the food you need/want. It’s really not the way to go.

Nothing is worse than getting home to review your grocery haul and the receipt, to find you have overspent AND you are missing ingredients for your meals. This is the worst! And, it has happened to me before, I’ll be honest.  Just as bad as shopping without a list is shopping hungry. So, make sure your tummy isn’t growling when it’s time to hit the grocery store. If this means grabbing a snack to nosh on in the car, do it!

Shop In-Season

Next, you wanna shop produce that’s in season. Not only will it taste better and be fresher but it’ll be pleasing to your wallet as well. To find out what’s in season, check out this awesome little free resource.

Hit Up Multiple Stores

Shop multiple grocery stores. What? Yes, yes, do this.  You won’t save time but you WILL save money.  Every store has there own sale. Don’t be afraid to hit up multiple grocers to shop sales. You never wanna pay retail if you can get it on sale.

Find out what’s on sale by installing these fun free apps on your phone:

• Ibotta
• Checkout 51

They’ll tell you where the sales are and with Ibotta, you can even scan your receipt for cash back! I’ve been a die-hard Ibotta fan for a while. You’ll really love it.

Plan, plan, plan

Plan out your grocery shop in advance. You’re disorganized if you are running to the store 15 minutes before you need something. We have all been there, don’t worry. Plan, plan, plan. Make a meal plan or menu, write out all ingredients you need, add them to the list.

Then, do some research and see what you can get on sale. This is one way to shop: plan your food then shop accordingly.

The second way to shop: shop according to the sales. This will save you FAR MORE MONEY. It takes a new way of thinking. You no longer will get to have those Taco Tuesdays your family loves, unless those items are on sale. You’ll really be shopping according to the sales. This is different for a lot of people but you can save a ton doing this. Consider it. Test it out.

Go crazy with Apps (they save money)

Apps on apps on apps.  I mentioned above using apps. Here is a huge laundry list of ones to try:

• Ibotta
• TopCashBack
• Amazon Prime Now
• Checkout 51
• Grocery IQ
• Favado

Check these out and use them to your heart’s desire. These are great for identifying sales, giving you cash back and helping you save overall, on your grocery shop.

Coupons are your best friend

Use coupons and never pay retail whenever you can. These two go hand in hand.  Use coupons and shop the sales, don’t pay retail. Nuff’ said.

You don’t know anything about personal finance

This is ok, my friend. Not everyone is educated about finance. I worked in banking and finance for a decade and have multiple degrees in the field. Everyone doesn’t have this same background. Here are some awesome resources to check out to help you cut your budget easily and boost your savings:

• Mama’s on Money
• Making Sense of Cents
• The Practical Saver

This will be to help you save more money, make more money, and even earn income passively.

If you have a real desire to learn finance, consider checking out some free outlets like YouTube, where you will find a ton of free resources on investing for beginners, earning income passively, saving on personal goods and so much more.

You are spending too much on your house

Everyone wants a nice big house. This extends to apartments, condos, and the like.  For example, my family just relocated. We got into a beautiful home in a great neighborhood and our place is about 600 square feet larger than our previous home with an extra bedroom.

Do you think we use the extra space?

We don’t!

Shocking? A lot of times we think we need more than we actually do. Getting into a home the size of our previous place could have saved us a few hundred dollars a month (we are renting).

The moral of the story? Live within your means. Try downsizing, if you can. It’ll be a fun little experiment and if you can’t do it, you can always move. Your budget will thank you.

You are Spending Too Much on your car

Same goes here. Do you have too much car? It’s nice driving a fancy, new car but what about downsizing?  Downsizing on your vehicle for a few years can help you pad your savings account and put you one step closer to:

• Increasing the size of your retirement
• Boosting your downpayment for your house
• Having 6 to 12 months savings in your emergency account

And much more. Think about it.

You have Too Many Extras

Do you really need Cable AND Netflix AND Hulu AND all the other TV subscriptions you have?  And that’s just TV. What about the household services you outsource?

• Pest control
• Lawn service
• Pool maintenance
• House cleaning

This all adds up.  I used to pay $500/year on pest control. Before getting the service, the only problem we ever had were fire ants. My hubby bought a bag of fire ant granules and applied them to the perimeter of the house and they were gone same day. $500 saved!

And lawn service. It seems pretty cheap at $30/mow but if you bought a lawn mower, you’d make up the price of it in a few months.

Try cutting back.

Wrap Up

There you have it! Hope these friendly tips have helped. Comment below to share your thoughts.

RESOURCES FOR YOU

I want to help you as much as possible so here are some resources to help you get started in your money-saving  and money-making journey!

1. Ibotta – All about saving money on your groceries. Install this free app, grocery shop, scan your receipt and get cash back. Simple as that. So simple to use. You’ll grow to be as addicted to it as I am! Learn more.

2. Dosh– A new favorite that literally  requires NO EFFORT. Here’s how you do it: Get Dosh for free. Link your credit (or debit) card. Shop, as you normally would. Your purchases made with that card at participating retailers, get you cashback. It accrues in your Dosh account and you can redeem it as cashback! Get your free $5 for joining Dosh!

3. Survey Savvy – One of my favorite survey companies to earn extra money. They offer high-paying survey offers (the highest I’ve seen is $80).  Super easy to join and free (of course).

4. How to Start a Blog – Another source of income that can actually replace your full time 9 to 5 job.  I’ve grown to five figures per month blogging. Click here to join my free email course which shows you how to start your own money-making blog.