Need or want to save money? Whether you wish to have a life that is debt free or whether you wish to save money for something particular, from a small gift to a house, the tactic is the same. The simple (and rather off-putting) answer is spend less than you bring in. How much less depends on how much you wish to save and/or how fast. For us, that was € 50 a week.
It is often easier said than done, but…
We are prime examples of managing to do just this, having arrived in France with credit card debts after 2 years wine making abroad. Making wine has its perks, wine for one, but the hopping hemispheres every 6 months for the differing harvest seasons is a financial killer. Expensive visas, last minute expensive flights that took us more than half way across the world 2 to 3 times a year, really hit our pockets. We then added on rent, deposits and buying or renting vehicles, as alas there is little public transport to wineries, no matter the country. Although the pay is decent, with long hours, it can often work out less than the costs of getting and being there. Fortuitously, the resulting debt is what focused us to leave the winery hopping to others and set ourselves in one place and make our own wine. At least if we were going to have to live frugally, it would be for our own dream.
It took us 2 years to pay off our credit cards and become debt free, and this was on a next to nothing income! So, you see, it can be done if you really want it. Find your reason, and start saving.
The easiest place to start saving is food and food shopping. When we arrived here we were lucky if we made 300€ a month by working odd jobs. Luckily for us, our only expenditures were food and petrol (gas). We specifically found a cost free place to live by house sitting, including car, allowing us to live rent free whilst we got to know our adopted country and learn its language. Because we didn’t have jobs elsewhere we needed petrol for very little, just to get to the nearby shop and market. This gave us the sizable budget of 50€ a week for food, whilst still being able to save a little money. And with 50€ a week, we ate like kings. It even included wine.
How can you live frugally, and still eat well, eat healthily? (We are proper foodies.) Whether you are a single person or a family, consider how much you wish to save and determine a budget amount as low as you dare. You will be surprised how little you can live on, and you can always review. Whatever you decide your budget will or must be, it’s actually really simple to then save money, with some planning.
Top 3 Frugal Rules to live by:
1. Go only once a week to one shop
No matter how close, and particularly if far away, this cuts down on use of petrol, if driving. And, very, very importantly, it saves you time. Your time should always be counted as it frees you up for other things, like cooking. Also, by going only once a week (maximum twice), you need to plan what you will need. It also helps to not forgot that one essential item. Particularly useful if you live far from shops.
2. Go with a list
Boring, I know. But it works. Keep a list to hand during the week and as you run out or simply think of things you need, write them down. Prioritize your list. Top of the list is your staples, what you have to have. Middle is what you would like, and last are the treats.
This is the Budget Shopping List we use. It lets you prioritize, keep note of spending, and not overspend. Print on scrap paper or on both sides for 2 or 4 lists respectively.
3. Go with cash only
Decide on your weekly budget and take only that. Work your way through your list (now you see why prioritizing is useful). Add up costs as you put items in your basket (we round up for easy addition), so you know where you are against your budget. Sometimes you will find you get to the end of your list and have a little money left over. Sadly, not as often as you would like. More often you may have to re-think those last few items as you get near the end, choosing one over another or deciding actually you can do without. But not to worry, there is always next week and an item near the bottom of the list may get moved higher up the next week.
Having an incentive to not always spend all our 50€ helped. If you have money left you can have a little splurge at the end of the month or, like us, put it towards your debt. And now that we have cleared our debt, we still stick to our budget as we save towards a house. Every little bit honestly makes a difference, so keep finding that good reason.
A little goes a long way
If you feel up to it, leave any credit or debit cards at home. That will really focus you not to be tempted to spend more than you have. French paperwork being what it is here, it took us 3 months to get a bank account. We had to live by cash alone and we found it actually gave us a real sense of freedom. Okay, maybe slightly weird, but because we had the limitation of only the actual money in our pockets, it meant we knew we simply did not have the luxury of over spending.
By following these steps you can save money and eat extremely well. And bonus, by buying to a budget, it is possible to even enjoy a few treats. Because you decide what is important and can prioritize to your appetite and tastes, buying this over that, you can enjoy the foods (and wines!) you like. Oh, and by the by, France is a very expensive country to live in. However, our budget includes everything, even those necessaries like soap, toilet paper and such. It all comes out of our 50€ a week.
Do You live on a budget? We’d love to hear about it. And if you don’t, why not give it a try? Even for a week. It may make you re-think some things, possibly even give you an excuse to try new recipes as you figure our what fits your budget. We’ll be curious to hear how you did.