Budgeting Preps

Since my budget is not unlimited, I have prioritized emergency preparations based on what I think is most important for my personal situation.

 

It's not possible for me to make the trip Wal-Mart and purchase $10,000 worth of groceries to ensure that I have a year's supply on hand. My goal is to prepare for future emergencies without going out on a limb financially; and without alienating my family, friends, and co-workers. To free up some money for the effort, I reflected on our household budget and looked for ways to save a little here and there to allow for a few extra purchases for future needs.

 

For the past 20 years or so I have eaten my lunch meal in a fast food restaurant 99% of the time to the tune of $7.50 per day, $52.50 per week, $225 per month, $2,700 per year, and a grand total of $55,000 during my working career. For the past several weeks I've been taking leftovers for lunch instead. Based on the savings to date, I'd estimate a $1,200 savings during the next year. I still eat out now and then for convenience. As a side benefit, it's also helped me lose some weight.

Other ideas for finding hidden money:

• Skip the gourmet coffee and make it at home
• Skip the soft drinks and drink more water
• Skip the brand names and buy generic instead
• Cut back on the cable package
• Shop around for a better cell phone plan
• Hold a yard sale
• Sell unwanted items on Craigslist or eBay

And if none of that works for you, pick up a few extra food items during each grocery shopping trip. You'd be surprised how much food you can accumulate in a few months time with consistent effort.