I thought long and hard about the amount of money needed for food in 2014, but decided to keep the budget at £200 a month (for now) - It will be changing a little in the summer as we're expecting B to come home after uni for a short while (long while?), but he will be paying board and so I'll up the budget accordingly.
I've spent an average of £217 a month this year, so £200 seems a good amount to aim for.
December Grocery Spending:
So far I've spent £106.19 (which includes my already ordered shopping for December 23rd), leaving a balance of 93.81 for the next 17 days - totally doable even with 3 of us to feed (B is home next week).
Food cupboard + Freezer Inventory:
Here's a list of the food we have in our pantry and freezer before today. I'll be using this, and the food being delivered later, to make a menu plan for the rest of the month.
Have you set your grocery budget for 2014? Are you increasing it compared to this year? Or are you trying to lower it?
I'm wrapping up our 2013 goals in order to clear the decks for our 2014 budget!
Financial Goals for 2013: (Goals updated in August)
- Reduce our mortgage balance to less than £72,000 The final balance on our mortgage for 2013 is £73,500. Our original goal was to reduce our balance by £25,000 - we managed £11,450. Way off goal, but still progress
- Complete and pay for all house repairs - Approximate cost £4,000. All done and goal completed, although we've spent £8k+ this year.
- Spend no more than £2,500 (originally £2,000) on groceries - 2013 Total: £2,614.34/£2,500 a monthly average of £217.86
Ongoing Net Worth Goal: Increase NW to £125K in 2013
We sneaked in!
We don't include pension savings in our NW as we both have (now frozen) Final Salary Pensions. However following a recent pension change, we now have online access to my husbands (new) scheme and will be including this in our NW going forward.
2012-2013 increase: £14,539
Overall it's been a very good year for our finances and we're very grateful. Thank you for your continued support xoxo
2014 Financial Goal: Reduce our mortgage by £15,500