I am a frugal, penny pinching, grungy, broke, and any other terms you can think of college student. My goal in life is to stretch my dollar so far that it begs for mercy. So this post is dedicated to the basics of saving money on your groceries. You don't have to be a coupon obsessed expert to save money. It is actually quite simple. There are 4 easy steps that, when followed, will save you enough money to finally go to that place you have always dreamed of or get that new toy you've had your eye on for ages.
Step 1:
Starting now, do not buy anything unless it is on sale! NEVER EVER buy something at full price again! Wait until something is on sale to buy it. And BAM!, you are saving money.
Step 2:
It is all about the stockpile. Lets try a real life situation to help you understand. Every month I go through $5 of toilet paper. Once a month I go to the store and pick up the $5 pack of my favorite tp. Every year I spend $60 on toilet paper. One day I notice that my toilet paper is on sale for $3. Instead of buying one pack, a months worth, I buy a whole year's worth. Now a year's worth of toilet paper will cost me $36. That is a savings of $24, or 40%. But wait! I have a coupon for $2 off my toilet paper. Combining the store sale and coupon gives the most savings. Now a year's supply of toilet paper will cost me only $12. When I buy a year's supply of toilet paper with the store sale and coupon I will save $48, or 80%. Now imagine doing that with everything you use every day.
Step 3:
Shop your stockpile. When 6:00 p.m. rolls around and you are wondering "What is for dinner" it is easy for your mind to jump to McDonald's, (or my favorite, Wendy's!) but that is NOT the way to save money. Instead of going out and spending $10 on a Big Mac, fries, and a Coke, go to your stockpile and find something for dinner. Or when you need something to take to a party go to your stockpile and grab a soda and some hot dogs or make some cookies to bring. Do not run to the store and impulse buy a box of cookies from the bakery when you can make them at home from a mix that you got for pennies on the dollar because you shop smart. This is where you can see the advantages of having a stockpile in your home.
This is the shampoo and body wash section of my stockpile. Now anytime I need shampoo, conditioner, or body wash I go here to get it. Instead of going to the store and paying full price for it.
Step 4:
Don't give up. It may take a few weeks to get your stockpile going. For me it meant spending all my food money on that great deal on toilet paper instead of actual food. At the start you may find yourself eating beans and rice so you can spend your money elsewhere. Or, not going to the movies for your Friday date but the park instead so you can have $20 to put towards the sale on pudding cups. But that will not last. You will quickly find yourself with your own personal grocery store that you payed little to nothing for. Then you can afford to go on your Friday night date to the movies and you can get the popcorn. Just kidding, movie theater popcorn is one of the biggest rip offs that you will ever come across. But still, you get the point.
Let me know what you think! I want to hear your strategies, successes, and failures.
-The Broke College Kid-
Your stockpile idea is actually extremely smart! I'm going to try to start one, but I doubt I'll have the perseverance. Either way, good for you Rachel :)
ReplyDeleteIt's so ridiculously important to budget when you're a broke college kid. You have a lot of good ideas here! I stockpile as well :) I'm really bad about coupons (usually leave them home >:( ) but I do have some budget shopping tips:
ReplyDelete1) Never go to the store without a list! Don't buy a single thing in the store that is not on your list.
2) If you do want to buy something NOT on the list, make a new list when you get home of "things you wish you bought" and try to remember it. Usually I will either a) forget whatever it was I wanted or b) realize I dont actually want it. If I do remember it and still wish I bought it, I write it down, wait one week. If I still want it and can justify it, buy it! I've never actually still wanted it after a week though.
3) www.mint.com is your friend. Try to account for every dollar coming in/going out.
4) Only go shopping once a week/two weeks/whatever works for you. PLAN for the week and write it on that list. Multiple trips at 50$ a trip add up.
5) Psych yourself up with things you know you have at home when you're getting some expensive craving. Dinner might be ice cream and canned green beans (probably not together...) but hey you saved some cash.
6) http://www.reddit.com/r/frugal Some of these ideas are a little too much (=cheap) but sometimes there is good stuff.
You can always eat well when you have a real job... :) Or keep saving and retire early...
P.S. I hope you get the mission money :)) Miss you guys!
Love shopping on clearance and stock-piling :) Great advice! Good luck with the mission money... :)
ReplyDeleteSounds like you're on the right track! On a side note, I love my stockpile. It's great to be able to donate things without spending a fortune too.
ReplyDelete