I receive dozens of questions from readers asking various questions as to why it is that I do certain things the way that I do – like why I make our own laundry detergent or why our grocery budget is so high or why I no longer coupon. Therefore, I thought I would share with y’all my money philosophy.
What is a money philosophy? It is essential what your thoughts and beliefs surrounding money are, the structure of money and the way it flows in and out of your household.
My money philosophy is pretty simple – if I am struggling there is not much that I will not sacrifice or go without in order to survive. However, since I am no longer in financial trouble and can breathe a little easier every month, my money philosophy has evolved a little.
My current money philosophy is that I will continue to do all that I can to save my family money but I will not sacrifice my sanity to do so. In other words, when I started recognizing that couponing was costing me more time and money (my Sunday newspaper subscription) than I was saving, I stopped. That is right, I no longer clip coupons and I am totally okay with that.
I make my own laundry detergent but I still make sure to have a bottle of store bought detergent on hand for inevitable lazy moments when I put off making a new batch of detergent until I have no clean underwear to wear. True story.
Same goes for our grocery budget, I do certain things to help us save like use the app Checkout 51, shop at Aldi, use digital coupons (loaded onto my Kroger Plus Card), and shop sale items when necessary. However, since we are no longer struggling and my hubs’ money is what pays for the groceries, I purchase lots of meat because that is what my hubs wants. Whereas I could live off pasta and cheese for the rest of my life and be perfectly happy, my hubs has.to.have.meat all the time. He puts up with meatless Fridays during Lent but that is only because he knows he will not win that battle.
Therefore, our grocery budget is more than what most people spend but I am totally okay with that because my money philosophy is all about saving money and saving my sanity at the same time. They have to be in harmony or I go crazy. Of course I do my best to save on meat by buying in bulk, buying what has been marked down, freezing and storing the meat from my hubs’ hunting trips, and sticking to the basics (chicken, pork chops, ground chuck, and either a roast or top sirloin). However I do not worry about trying to convince my hubs to go meatless more often because that would just be an argument and drive me crazy.
Then there is the argument of “how can so many people feed their large families for only $50 a week”? Yes, it is true that many large families have huge stockpiles of food, and I am a tad bit jealous of their stockpiles. Their stockpiles allow them to only purchase a few staple items to make it through the week or month. However, their stockpiles are wonderful and nice but they would not work in our home. We simply do not have the storage space for all that food (we do not even have a pantry – just a cupboard).
I am sure that I could probably clear out sections of closets to store food, but to be honest that would cause me to lose my sanity. The last thing I want to see when I am attempting to pick out clothing to wear for the day is food. That would stress both my hubs and me out – not to mention our boys would find their way in there, probably destroy it, and consume half of it.
This is just the way that I apply my money philosophy and I am sure your money philosophy looks different from mine. We all use money differently and we all value money differently, but we all need to know what our individual money philosophies are to make sure that we always stay in line.
What is your money philosophy?
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