Friday, January 18, 2013

Using Groceries to Pay Down Debt?!

Each week, we have an $80 budget to spend at the grocery store. Usually, we spend right around the $80 mark. However, the past two weeks we have only spent $65 each week. We decided that any money we had left in our grocery budget would be applied to our smallest student loan. also, this has encouraged us to find some extra coupons.

Now, we go around the store and ask ourselves do we really need to spend that $2 on potato chips or that $4 on coke? Or, do we want to put that $6 to debt? I think this could potentially become a healthy idea not only for our budget, but our waistlines as well. Woo-hoo!

So far, we have been able to apply $30 to loans in addition to what we have been paying extra already. I am shooting for an additional $300 payment coming up this week. I hope life does not happen and we have an extra $300 to do that. I will keep you guys updated!


  1. Because my discretionary, non-debt fated income is so small, any extras come out of that. Most months I'm short due to things like Dr's appointments, guess where the money comes out of? Yup. Grocery money. Sucks, but I am extremely careful with what I buy. I 'reward' myself with some cheap $1.99 cake or pastry once a month or once every other month, but other than that, I can't justify playing with my only discretionary income (which happens to be mostly food and gas).

    Perhaps you can keep track of these small snowballs under your debt totals. You'd be surprised to how much they add up overtime, even with small amounts like $6.

    1. That is a great idea! We will definitely set that up hoping it will provide everyone with a little encouragement!

      Thank you for sharing!

  2. Wow! It’s actually amazing that you thought of that – trimming the waistline and your debt. Imagine saving up some money while having healthy living lifestyle. I’d also go for the same process, but the difference is that I will be using the money I save to open up a small business for me to earn more cash. I've been selling lemonade and hotdogs, and it's really a hot on sale here in our neighborhood. This will speed up the process of paying down debt. You could try this out!

  3. That is great! We wish you all the best as you look to get our business off the ground! Post some updates that we can read as you begin the process.