How to save on groceries!!

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Whether you go grocery shopping daily, weekly, or even monthly, I'm sure we can all agree that this is a significant expense from our monthly budget. Even though food and other personal products are essential in our lives, I will tell you friends that there are a few ways to reduce that expense without compromising on the quality of the products!

1. Create a grocery list. Take a few minutes to prepare a list of the products you have to buy. Check your fridge, freezer, cabinets and pantry to ensure you don't forget anything. You are less likely to purchase unecessary (and expensive) items when you know exactly what you need. 

2. Create a second list. Whenever you run out of something - toothpaste, pasta, etc. - write it down. That way, next time you go grocery shopping, half of the list will be done! If you have to leave your house everytime you remember you're out of eggs or milk, you waste time, gas and money (generally products at the corner store cost more!)

3. Check out weekly flyers & compare prices. This will also help you plan and create your grocery list - not to mention you can save a few dollars by asking for a price match!

4. Avoid junk food. Stay away from pre-cooked meals, candy, etc. 

5. Drink water. Trade in juices and soda drinks with water! Not only H2O is cheaper, it's also healthier! :-)

6. Bring reusable bags - specially if the supermarket charges for plastic bags. This helps both your wallet and the environment! 

What are some of your tips to reduce your grocery bill? 

Take action today!

If you spend more than you earn or if you're already in the red, take action today and start cutting expenses. I personally took action in 2014. During the year of 2013, month after month I spent more than my earnings. It started with my trip to Europe in the summer, purchase of my first house in the fall and ended with another trip I purchased as a surprise birthday gift for V to Miami and the Bahamas in December. I ended the year with a balance $5,000 on my line of credit and NO savings due to the down payment of my house! Oh boy did I lean my lesson!

From my personal experience, to become debt free you have to have the desire to do so, as it will require a lot of sacrifice and discipline.

1) Stop accumulating more debt

Do not make any purchases that you know you cannot afford. No exceptions here, if you don't have the money for it and/or don't need it - don't buy it.

2) Track all your expenses

Write all your monthly expenses. Do the necessary adjustments to ensure you're not spending more than you're earning.

3) Renegotiate your debt

Contact your bank/ credit card company and try to reduce the interest charged on your loans.

Are you a spender or a saver?

Begining of another month and you ask yourself: should I save money or spend it? For majority of people, getting into debt is still the fastest and "easiest" way to buy something that would probably take months of savings and discipline. 

What if most of your income is compromised with loans, mortgages and credit cards? How can I save money? Why should I save money? 

Simple questions require simple answers. How can I save money? Start with a plan. Saving money is just like going to the gym: the first month is always the hardest, but once you get into it you will never want to stop. It doesn't matter if you save $50 or $500; what's the most important is creating that habit and discipline. At the same time, track and analyse your monthly spending. A lot of that spending can be and must be eliminated! 

And why should I save money? It doesn't make sense to save if you don't have a goal. Write them on a piece of paper: buy a car, a motorcycle, a house, travel, etc. Break them further into short term and long term goals. Do some research to determine the price tag of each of those goals and see how much you have to save. 

The key is to change your mindset from a spender to a saver!

Do you consider yourself to be a spender or a saver? Or a little bit of both?