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Budget Update and Goal Update

January 24th, 2009 at 06:28 pm

I've decided that updating the budget for Checkbook One on Thursdays works well. So far so good. We are still under or at budget in all categories for Checkbook One. I think we'll even make the budget in the grocery category this month and not be 21% over.

I've moved what used to be Goal 1 off to a page. It is fun to look at past accomplishments but I don't want to get stuck there!

Goal 3: Decrease food costs. I've given it a dollar figure. Some people here might wonder why the budget is set at $650 for just three people. Two reasons: It includes personal care and cleaning supplies (and also any eating out), and I value organic and locally produced food and that adds up. To bring the costs down I've done things like look for sales on food that we typically buy, change some things about our diets (oatmeal instead of cold cereal for example), and figure out how best to use meat and dairy products which seem to be the most expensive categories in the food budget. Last year's average was higher than this, so it's definitely an improvement.

Future goal: Develop a source of "egg money". Here's a definition I found of egg money:

Before World War II, most eggs were produced by small flocks that scratched their way around the barnyard. The farmer's wife usually supervised the operation. The money received from the sale of the eggs was considered hers. Source: http://www.georgiaeggs.org/pages/eggmoney.html

I started tutoring a couple of weeks ago. . . and I really like it! I'm tutoring math with younger children using materials I'm already familiar with. I'm not charging enough, and both my client and me know that. But as I told her, she's helping train me so we're both winning. We will re-evaluate the fees in a month or so.

While the definition of egg money posted above has it under the control of the farmer's wife, I asked the farmer what he thought we should do with the money. He had no opinion. So I suggested that a percentage of it be set aside for taxes, 15% for the EF or retirement and the rest in to Checkbook One. He was agreeable. It's not a whole lot in to the checkbook but it might be enough to fund our summer camping trips.

4 Responses to “Budget Update and Goal Update”

  1. boomeyers Says:

    I guess I'll take my ebay money and make it my "egg money". So much cuter than EF or "piggy bank".

  2. Analise Says:

    I got a chuckle when I read your Goal #4 (NSD = No Starbucks Day). You've given me an idea...

    Good job on the other goals. I guess now that I think of it, I've always had an "egg money" account. I appreciate that it gives me the freedom to spend w/o having to negotiate w/ my dh.

  3. Little L Says:

    Good luck with your goals. I too am trying to figure out how to lower our grocery costs. I have no ideas at the moment but one that works really well is to not shop with the kids. I'll be interested to see how you go about doing this.

  4. frugaltexan75 Says:

    You talking about 'egg money' reminds me of the show 'Little House on the Prairie' when Caroline Ingalls would take her eggs to sell at the Oleson's. Smile

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