Just like the rest of us, we are paying $4.21 for a gallon of gas and often double prices for food compared with last winter. I am tracking all costs but it's really frightening. Instead of $100 a week for food and $60 a week for gas (for two people plus cats, dog and nearly adult kids who are in and out) like in the past year, we are scrambling to find the cash to keep it all together. I understand how to set up a budget, it's just that these days prices vary (or rather increase) from week to week so it's hard to plan and impossible to see what even next week's financial needs will be. In my budget notebook I have actually written for july and august, "HOLD TIGHT and just get through until fall" HA! That's my plan for the rest of the summer. (two children will be back at college then so our day to day expenses will calm down, I hope.)

Is anyone else feeling this kind of "how do I balance my budget (weekly or monthly) when I don't know how high the prices will go?" Or should I be looking at this differently?  thanks for any help. I feel like I'm walking through muck and it's tough going. - Pam

I don't do a price book and I have for the most part given up on being able to really track the prices. As for budgeting, I do it by expected expense and try to keep a cushion for increases in things like gas.

 

Truthfully...it will be a challenge. I saw this coming a couple of months ago and started stocking up. Along the way I started making small changes to the things I bought to save money and do the right thing for the environment as well. As much as I love the various body soaps in plastic bottles, I went back to bars of soap which are cheaper and no plastic bottles to recycle. I started reading the labels on my laundry soap jugs to see just exactly how long a jug should last. According to the label, you only need 1 1/2 oz of soap per load of concentrated soap. I was guilty of filling the cap full and wasting it. Being frugal isn't just about getting a good deal, its also about making stuff last and getting the most out of what you buy. Trust me when I say it takes a fair amount of diligence to get started and maintain this new way of doing things but it can be done. It helps if you talk to other members of the family and get everyone on the same page; otherwise you will feel like you're the only one dealing with this. Keep reading DS. Toni

being a bit flexible with the budget. I raised my household budget to $600 instead of $500, gas from $300 to $400. now I don't plan to always spend it but it is better to have the flex in there so you don't get stuck.  I find I don't frustrate myself that way.  things may take longer to pay off but slowly and surely it happens.  plus I look at the free options on craigslist etc all the time. putting the word out.

For example dh was going to reshingle the roof by himself but discovered he was getting dizzy (old age lol)  just doing the playhouse so that option is out so we will be paying someone.

its hard but its all in the planning ahead.  shopping ahead of time. hitting the sales and stocking up.  If you have the kids in and out on an irregular basis, stock up the freezer with some easy made ahead meals. You can freeze lunchmeat like ham etc. It is more watery defrosted so I just pat it dry with a paper towels.

from my experience its the going to the store all the time that break the bank. you always find something else to buy :) 

maybe you have to assess if your jobs are worth it. take each one and break it down by expenses with gas etc.  I know you do ebooks etc and have a hard time with the house since you are gone alot.    Its hard to do all the frugal things when you aren't at home.    I know with me having the kids, it is not worth working for just 4hrs at a time with childcare and gas.  once in a while is ok because it will balance out but I need to work 5 to 6 to get ahead of the game.

hopefully you can work it out! 

 

 

thank you all so much! My three jobs that I have now (one will end for the summer since it's related to getting children up for school and on the bus) are all within 5 miles of my home (I quit the low-paying one that was over 16 miles from home and only gave me 3 hours a week, lol). This helps enormously - they all pay well too.

this week was tough. My daughter who is in school in NYC  came for the week and wanted to buy household goods for her first apartment, so I paid for cooking stuff, etc. Her dad is buying her the bed, and she had towels, sheets, some dishes already from living in a dorm. But we bought most of her stuff on sale at a discount store so it was not as scary as I thought it would be. Today we are heading to the lake to relax which is an excellent start for the week (it's sunday today) .

I have found that we absolutly must write down all expenses. My husband rebels against this but when I show him the use of his debit card in grocery stores (sometimes three times a day to buy something he either just wanted or forgot last time he was in the store) is really killing our planned expenses, he says he will try. He's a wonderful person but very independent and feels I am trying to control the money stuff too much. We talk a lot about the freedom we will truly have when we know where each dollar is going and the debt is gone. So it's progress.

What I plan to do is track expenses, dollar for dollar, for food and gas (the most volatile items right now) and then by fall have a realistic budget. I'm sure our heating will increase but we are on a budget plan so it would take a year at least for the monthly amount to increase. Sadly, we also have fallen back into not cooking at home - we buy frozen meals or stop at a diner about 6 times a week (I often eat at the job since I work as a nanny and cook for others...which may be why I don't want to cook at home, ha). We have a lot that needs changing and more that need monitoring but you all have helped so much - I love the support and it really helps to know that others are juggling and reworking their financial plans as well. Blessings, Pam

Dear Pamelaw, We are all in teh same boat, us who try to provision for the future.  We are as shocked as the grasshoppers at how prices are rising.  But, we have teh true advantage of having some ideas for reducing some of the costs.  Yes, we will have to tighten our belts,but we are unlikely to have our homes foreclosed -- at least, fewer of us ants will have that happen to than it will happen to the grasshoppers. 

It seems to me that by looking at the financial news, we can calculate how much our grocery & gas budgets need to be increased.  Just look at the commodity markets.  (There are markets for coffee, wheat, soy, corn, etc., & of course oil -- which plastic is made out of.)Search at the NYTimes.com site for "commodities" & set  the date erference to this past week (whenever you are checking).

Yours in Him, Deb

I feel the same way!!! DH is self employed in the construction area. Yes it is very tough nowadays.  I feel sad sometimes an then I try to smile and move on with my life.  Last summer we went to free school lunches with 5 kids, "for fun" to meet our friends.  This Summer I get everyone in the car, run an errand or two and head to free lunch "daily" or we run out of food at home faster and I can't replace it.  It pack a small lunch for myselt so I don't have to pay for a lunch for me.

 There are weeks that I don't have enough $$$ to get bread at the discount store to last a month (like I used to). I only buy the $99 cent bread.

WE have a house for sale and the house we live in which adds to 2 mortgages.

DH took a job out of state for a couple of months and I know that sometimes when he drives home (6 hours) he has ran out of money for a drink.

My son is turning 6 this month and he wants a party.  I can't afford it.  I'm trying to figure this one out.

It 's hard to do a budget because our income is not the same and our expenses are more.  If I could sell the house I live in I would but nothing is selling right now.

Carmina

 

 

Dear Carmina, Can you swing $10 for your son's birthday party?  If you can find a cake ad a frosting mix on a good sale, plus party favors & one nice toy as a gift to your son (you can wrap it in the comics pages), voila, a party! THE TIGHTWAD GAZETTE gives dozens of birthday party templates, although she spends moe than your budget allows ....  Go for it, girl!  Yours in Him, Deb

Thanks Deb! My son has one friend, really! He has brothers he plays with all the time and he is content.  Maybe I can do something special at home with the one friend and his brothers.  I just have to be creative!