In a terrible economy, it is high time that the I Was Broke. Now I’m Not. team deliver ways to save money! This five part series will share the top five ways that we see people saving lots of money.
I believe that if you apply these five items, you will save over $1,000 a year. Don’t believe me? Try them out!
Part Five Groceries and Cash Envelopes
Cash envelopes allow me to save a TON of money. How? I have a written spending plan that my bride and I prepare every month. In this written plan there are several items that I tend to be impulsive with. Groceries, Dining Out, Clothing, Entertainment, and Spending Money are the top five impulsive categories for me (can I get a witness?). To control my impulsiveness, we pull that money out in cash. We stow away the debit card and only allow cash to be used to purchase items in our impulsive categories.
This one move saved us over $200 a month in groceries alone! You can read more about how to start with cash envelopes HERE.
You can also use coupons to save a ton on groceries. In fact, my team has prepared an entire section of money saving tips for groceries under the Next Steps tab. You can check it out HERE.