What to do with your extra grocery money

stockup   I shared in a previous post (How to Save on Your Grocery Bill) that I usually save any extra grocery money and would stash it away for Christmas or I’ll stock up on something if I find a really good sale.  Well I found a good sale, so I stocked up. We love coffee and I was able to score these canisters of coffee for $1.50 each with a sale and a coupon matched up, and the yogurt was on sale matched with a coupon for $0.25 each.  We eat yogurt all the time, so it was a great deal for me. I am a big believer in BUDGETING.  I budget for everything; home repairs, car repairs, Christmas, car insurance, groceries.  My husband and I are determined to pay our mortgage off in the next few years, and this would not work if we didn’t budget for everything.  So here’s some ideas of what you can do with your extra grocery money:

1)Save it for sales when you can stock up on something that you use a lot.  Notice I said something that you use a lot. Don’t stock up and buy 20 cans of tuna if you don’t like tuna, use it on something you’ll use.

2) Stash it away for Christmas.  Every year I save extra grocery money for Christmas, once Christmas gets closer, I really start trying to stash it away.  When it’s time to buy gifts, you won’t be overwhelmed and may not need to even budget anymore money for Christmas, you may have enough stashed away to cover all your gifts.

3) Save for something that you wouldn’t normally buy.  Every year I save for a big gift that I get my kiddos that I wouldn’t ordinarily buy.  Save for something that you typically wouldn’t have the money to buy.  It’s good to have a goal.

4) Pay towards your debt.  If you owe credit cards or debt, I highly recommend doing this.  Make an extra payment every month, you wouldn’t believe how quickly you can pay stuff down when you make extra payments. (Read my post here on minimizing your debt)

5) Pay extra toward your mortgage, throw that extra money toward your mortgage every month.  Read this article about what a difference it makes to pay one extra payment each year. One extra payment a year can cut 6 years off your mortgage!

6) Invest it. Remember when Sara talked about what those little purchases add up to and how much you can make by investing that money, you may not have that much extra a year to invest, but any amount helps.  Read her post here

7)Save it for family activities.  Every year we go to amusement parks, birthday parties, weddings, baby showers, camping trips.  Save that money for those occasions and you wont have to take extra money out of your budget.

Every family has a different budget, different interests, different goals.  You know what works for your family and you know your family’s needs.  I highly recommend sitting down with your husband and setting up a budget.  When you grocery shop, maybe you found a great deal and have extra money, use it toward something.  You can see my meal plans here to get an idea of how I budget for groceries.