Friday, December 31, 2010

Tips for Shopping on a Healthy Budget

· Meal Planning and Budgeting:

o Calculate monthly budget for food, divide into four to know how much to spend per week. You can also divide into a daily food allowance.

o Check out weekly sales (I look online at save-a-lot, Wal-Mart, Food City, Dollar General, and the Dollar store). When you find a healthy food you like on sale, take advantage and stock up (if you can store it properly).

§ Collect coupons for your list of commonly eaten items from newspapers or go online to print coupons.

§ Get membership cards, if free.

§ Buy things in bulk, if you can use it or freeze it before expiration date. Check the unit price to make sure it is actually cheaper in bulk. Things typically cheaper in bulk include chicken, carrots, potatoes, onions, nuts.

o Make a healthy menu for the week with a variety of fruits, veggies, whole grains, dairy options, and lean proteins. Plan to spend the bulk of your food budget on fruits and vegetables. For dinners, plan to fill half your plate with veggies, ¼ protein, and ¼ carbs.

§ Plan beverages too! Try to drink water only. Juices and other “healthy” beverages contain tons of sugar and calories. If you must, buy 100% juice.

o Calculate the cost of each day's meals to keep track of whether they fit into your budget.

o Look at what food is already in your kitchen and build meals from there.

o Use a website like epicurious that finds recipes for the ingredients you already have in your kitchen plus the items on sale!

o See my earlier post about the healthiest foods for your buck and include as many as you can into your weekly meal plan.

o For meal planning inspiration, write a list of your favorite healthy and cheap foods. Look at your most commonly eaten foods (I pull mine from my calorie counter tool).

o If you’re feeling especially motivated, make a chart of the prices of your common foods including both the high and low prices.

o From this weekly healthy menu, what you need to buy.

§ Remove all prepackaged, high sodium, high fat, high sugar, and other items with low or no nutritional value from your list.

o While shopping, stick to your list and don’t shop while hungry.

o Grocery stores typically have a near-expiration date rack for breads and for produce. Check out these racks and grab as much produce (inspect to make sure it’s not bad) as you can use/freeze. Sometimes there are good fresh breads (with less preservatives) and carbs as well, marked cheap.

o Shop along the edges of the grocery store aisles to avoid processed foods (meat, produce, dairy)

o Bring a calculator (or bring your phone and pretend to be texting) to the store and add up the price of each item to stay under budget

o For every minute you spend in the store after 30 mins, you will likely spend between 50 cents and $1. However, longer shopping = more walking (especially nice when cold or raining). So, either plan to make a quick trip, or make it into an exercise trip.

· Batch cooking and cooking in general:

o Cook at home. Convenience and pre-made foods are more expensive and less healthy. I batch cook – eat one serving and freeze the rest in single size containers for later meals.

o Try for more meatless meals (especially with beans) because meat is expensive. When cooking with meat, replace some meat with vegetables.

o Try cooking parts of meals РI like saut̩ing green peppers and onions to add to omelets, spaghetti, etc later. Or bake squash and freeze for side dishes later.

· Eating Out:

o Keep all your food receipts for a week. At the end of the week, evaluate and calculate your average expenditure per week and set a goal for decreasing your spending. Start with cutting back by $5 or $10 a week. Also, check your receipts for unhealthy spending patterns and make strategies to avoid them.

o When you do eat out (because you’re going to be eating out sometime), order from the kids' menu or buy only an appetizer. It will cost you less and the total calorie count will be lower.

· Snacks:

o Make air-popped popcorn, trail mix, and other snacks. Package in individual servings.

o Buy healthy snacks in bulk (pretzels, nuts, dried fruit, etc). Package in individual servings.

o Make your own Cheese and crackers

o Buy whole vegetables and fruits, slice, and throw into individual servings.

o Cut out that bedtime snack and stop eating 3 to 4 hours before bedtime

· Exercise:

o Walk (friend’s house, work, around the block, grocery store and you’re sure to buy less!)

o Hulu exercise videos

o Library workout books, diet books, recipe books, workout dvds

o Used exercise equipment is a staple at many garage and estate sales.

· Outside the grocery store:

o Grow your own food in planters/pots or in a garden –

§ easy plants are tomatoes, green beans, peppers, squash, rosemary, basil and mint

o Farmer’s markets – supports your local economy, supposedly cheaper and healthier.

§ Organic foods may be healthier because of less exposure to hormones and pesticides. However, they can be more expensive. Prioritize buying organic thin and soft skinned produce, which are more susceptible to environmental contamination.

o If you live near a forest or field, forage for edible berries. Blackberries and black raspberries tend to grow on the sides of roads where I live.

o Look for local food banks or other programs to help supplement your food budget. Research to learn if you qualify for foods stamps.

Wednesday, December 29, 2010

Healthiest Foods for your Buck

Proteins:
  • Dried beans (black, lentils, pinto, kidney, chickpeas)
  • Low sodium canned beans
  • Ground turkey
  • Tuna
  • Peanut butter

Carbs:
  • Whole wheat pasta
  • Rice (I've heard that brown rice is better, but I haven't tried it yet)
  • Oatmeal (instant or rolled if you like it)
  • Cereal - try for whole grains, and vitamin-enriched and not the sugary kinds
  • Popcorn kernals (if you have a popcorn popper); microwave popcorn (the healthiest you can find – low sodium and cals) if not

Fresh in-season fruits and vegetables:
  • Spring : strawberries;
  • Summer: corn, tomatoes, melons, berries, and lettuces;
  • Fall: pumpkin, squash, and apples;
  • Winter: citrus, dark leafy greens (kale), sweet potatoes, squash, and grapes
These are the typically cheapest fresh vegetables and fruits:
  • spinach
  • Canned tomatoes - watch that sodium!
  • Bananas
  • Apples
  • Tomato sauce - watch that sodium
  • Garlic
  • Onions
  • Carrots
  • Potatoes
  • Celery
  • Dark Leafy Greens
  • Sweet Potatoes
  • Frozen non-season fruits and vegetables

Dairy:
  • Cottage cheese,
  • Yogurt,
  • Milk,
  • Cheese,
  • Eggs
  • Generic brand slimfast

Tuesday, December 28, 2010

Financial Goals

My current financial goals are the following:
- Emergency stash of $700 (January 2011?)
- Pay off credit card of about 1200 (January 2011?)
- Pay off personal debt of 700 (February 2011?)
- Pay off private student loan of 3000 (August 2011?)
- Emergency savings of 5000 so I can move (October 2012?)
- Pay off 15000 car loan (June 2013?)
- Pay off student loans of about 16000 (Sept 2014?)
- Buy a house 2024
- Retirement 2060

These estimates come from my financial analysis at mint.com and my own calculations.

Wednesday, December 22, 2010

Laziness Prevails

So, I put a bunch of things up on Ebay last week. One of them sold! Now I have to figure out the shipping/getting money thing and frankly I'm really lazy and don't feel like it's worth $5. :( Especially a special trip to the Post Office the day before Christmas eve.

I have started double workouts (working out in the morning and at night) to jump start my weight loss. I've decided to forgo fast food and instead take exercise classes.

I bought a new car on Saturday. It's a 2007 Honda Accord. My monthly payment is $272 and my insurance went up to $84 with two cars on it. Again, laziness prevails and I haven't sold my car yet...

Friday, December 17, 2010

My Budget

Here it is! This is following the 50/30/20 model (although I have modified it).

Description Amount you should spend on must-haves (monthly income x .50): Amount you should spend on wants (monthly income x .20): Amount you should use toward savings/debt (monthly income x .30):
$1,021 $408 $612
Government Student Loan

$194.00
Rent $450.00

Water $35.00

Electric $75.00

Chase

$100.00
WF Student Loan

$50.15
Phone $65.00

Plane Tickets
$204.00
Gas
$50.00
Dining
$50.00
Zumba
$40.00
Car Insurance $18.00

Medical $25.00

Tithe

$204.00
Car Loan $250.00

Entertainment
$20.00
Food $100.00

Totals: $1,018.00 $364.00 $548.15

Total Expenses $1,930.15
Total Income 2042
Roommate 250
Extra w/ roommate $361.85
Extra w/o roommate $111.85

Credit Card Debt 1,172.71
Personal Debt 700
Car Loan 15000
WF Loan 2558.02
Gov Loan 16846.44
Total Debt: 36,277.17





So, from this, I can be debt free in 4 years (without interest...) if I pay $706 per month on debt repayment. Or if I pay $956 per month, I could be debt free in 3 years. I know that it's not accurate without the interest, but it makes me feel more secure having a plan with a time limit.

New Car Tomorrow

I am going to buy a new car tomorrow. My old card is not reliable enough to actually count as a full - time car. It's trade in value is $200, so I am trying to sell it privately. I've had a couple people interested. If I don't sell it by January, I will donate it because 1. I would rather give it away then drive it 3 hours away to sell to the dealership for so little 2. People helped my family out (including giving us a car) when I was younger and I would like to pay back 3. The tax benefits.
My new car will be a 2007 Honda Accord or Toyota Camry. I will either drive it until it dies or sell it in two years. I'm not sure how much money I can afford to put down on it - I keep on getting different amounts when I calculate it! This is the biggest problem I have budgeting - sometimes my budget says I'm doing good, other times my budget is such that I cannot spend any money on anything. I don't understand how it can vary from day to day so much.

Thursday, December 16, 2010

Discover Card

I activated my Discover card that I've had for awhile in hopes of doing a balance transfer from my Chase 29.99% card. I found out that my Discover card is at 19.99%. Better, but I'm still not using a credit card until I pay the remaining $1200 balance on my Chase card (except for certain emergencies which apparently included Christmas plane tickets for $200 this month). I've been on both a weight loss and debt loss journey for the past several months. My life this year has been in transition - from student, to unemployed traveler, to professional. I had hoped that I would have my finances in control after four months of employment, but debt is like weight gain - it is so easy to gain, and so difficult to lose. I joined a weight loss support group site called Peertrainer.com and I've already lost 12 pounds in less than a month. I was stressing about money today, so I decided to take action by:
- selling things on Ebay
- Making this blog to express my emotions and frustrations about my financial situation