I’m participating in Mrs. MoneySaver’s 2010 Savings Challenge! With a New Year starting up, now is the time to get motivated, create a budget and savings strategy to stick to, and stay accountable with your spouse or friend.
My husband and I wrote down our 2009 accomplishments recently which included finishing Dave Ramsey’s Baby Step #1 (Saving up for an emergency fund), and working on Baby Step #2 (paying down debts by using the Debt SnowBall method).
In 2010 my goal is to pay off all debts, with exception to our mortgage. This will be a tough one! On paper, it looks like it will take probably 1.5 – 2 years, but we’re going to set the bar high and try our best to do this in just 1 year. It will take dedication, determination and self-discipline, but my family is up for it!
I plan to:
- Continue doing my main grocery shopping at Aldi, and clip coupons for deals at other grocery stores that make the following scenario worth my while: Store Sale or Store Coupon + Manufacturer Coupon = Extreme Savings.
- Continue shopping at CVS and Rite Aid to stock up on free or cheap toiletries and household items by playing the “drug store game” or in other words, “rolling” CVS Extra Care Bucks to buy other items that earn back ECB’s (and thus paying very little out-of-pocket for items like toothpaste, shampoo, etc.), and buying items at Rite Aid that are “free-bates” or free/money-makers after manufacturer coupons and Single Check Rebate.
- Start being more disciplined in meal planning.
- Start using SwagBucks which every other blogger I know has said is a great way to earn a little bit of money for something you already do (searching the internet)
- Start using the envelope system (set aside actual cash in envelopes to be used at the grocery store and other stores, so that I don’t over-spend or have the urge to charge it on my debit or check card which means I may go slightly over-budget each month which adds up to a lot over time).
- Switch from currently using an Excel spreadsheet for tracking our daily and monthly expenses, to something like Mint.com per suggestion of fellow frugal bloggers Holly and Dana.
So those are my goals for savings this year!
Good luck with your own savings goals and New Year’s resolutions for 2010!