Grocery Challenge- Week 1 Update

Each month I go through different ‘life challenges’. This month it is trimming the grocery budget. Learn helpful tips and trick on how to trim your grocery budget and save some money.

I am focused on trimming my grocery budget from $140/week to $100/week.
Before I get to how I did this week, I want to highlight what I learned first, then the details. Here were the behavioural changes I started to notice:

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What My Tax Refund Says About My Spending Habits

Receiving windfall income and deciding what to do with the money can reveal a bit about our money personality, financial savviness and priorities in life. It can also address whether we are living within or beyond our means. If you are expecting a tax refund this year, here are a few questions that you can ask yourself:

How do I plan on using my tax refund this year?
Will what I decide to do with my tax refund increase my net worth, either by paying off debts or increasing my assets by saving/investing the money?
Will I use my tax refund to cover an immediate expense? How can I cover this expense another way in future years?
Do I have a fully funded emergency fund? If not, how do I plan to fund an unexpected expense?

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Grocery Challenge: Trim the Grocery Budget

Each month I will focus on improving one area of my life. The focus may be working to improve my spending habits, improving productivity and time management or decluttering my life. Whatever the challenge, the objective is to always be improving my life, learn new things, have something of value to share with you and grow in the process. To track and document my progress, I will be providing my updates every Thursday. This will ensure I am accountable to my readers and force me to complete the challenge.

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5 Financial Guidelines We Follow in 2017

As we became more intentional about how we spent our money, we came up with some financial guidelines this year that will ensure that we don’t find ourselves in a similar financial mess as in the past. These principles provide us with some framework when making family decisions about saving, spending and debt. As our family and income situation changes, we will develop a new set of guidelines to follow that help create healthy boundaries in our savings and spending habits.

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Your Why Needs to Be Strong Enough

If there is anything our debt repayment journey has taught me, its that you can accomplish anything with enough focus and intention. Knowing this has served me well not only in my finances, but in other areas of life. However, I have also come to realize that focus and intention are not enough, you need passion/drive. Why is passion so important, because will power alone won’t do it. Your WHY must be big enough.

I read so many other successful personal finance bloggers that have paid off much more than we have and in a short period of time. I always think to myself, “to pull this off, their why much have been huge.” I believe this to be true not only for financial goals but for any other goal one may have.

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What to Consider When Moving to Pay off Debt and Save Money

In summer of 2012 I moved to Calgary, Alberta in search of better employment. As a recent graduate with a master’s degree, I found myself with a considerable amount of student loan debt. Originally from Ontario, I decided to move to a province I have never been before, had no family or friends to assist me and was not sure of what to expect. My friends were experiencing similar limitations competing with millions of other professionals in Ontario that have had years of experience before the economic recession in 2008/2009.

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