It is that time of year again, when we have to file our income tax into the government. When the accountants are busy filling out the paperwork we all wait with hope for a big tax return. However, sometimes you aren't so lucky and the Income Tax God asks you to open up your purse strings!
This year Ryan and I have the unfortunate pleasure of owing the Government a lot of tax dollars. In light of this event we have had to change our tight budget yet again! Here's how we're doing it:
The days of only $100.00 a week on groceries is over, for a little while. Now we've cut down to only $50.00. I know, you all think I'm nuts and their is no way I can only spend $50.00 a week on groceries... but I can! Once a week we have eggs for supper (did I mention my brother owns a chicken farm?) which is a free meal. We buy a big bag of potatoes and make lots of side dishes out of the spuds. We use to always buy pre-grated cheese. Now for 1/3 of the cost we just grate our own, and have learnt to like it better! Cheap cuts of meat and getting creative with sauces is a must. Everything is homemade. Cookies, buns, pizza dough, etc. I'm digging deep into the back of my pantry to find items that I had previously purchased. No stocking up on things with a $50.00 budget.
Managing food has become important for us too. Always eating leftovers and never (EVER!) having bad food to be thrown away. If we know that we have leftovers that will go bad in a day or so they are eaten up right away. Waste not, want not.
Another way we are cutting funds is to do more things at home. Instead of renting movies at the store we're going to a friends house and borrowing a movie that neither of us has ever seen (thanks Jill!). We pop some popcorn (thank you full pantry) then sit back and watch an old movie that is actually new to us. We're cooking all meals at home and inviting friends over to eat with us instead of going out.
Within our budgets I always made some wiggle room so that we would have a little money to do with as we please. That has been cut down dramatically. We always put $20.00 a week away in an emergency fund. Now, that has doubled to $40.00 a week per person that is going directly into "paying of the *beeping* government" fund.
We always had a change jar but we never fussed over it. Now, every single penny we find goes into that change jar. You would be amazed how much all those pennies have added up so quickly! One full piggy bank of rolled change got us $300.00.
Saving pennies here and there may not seem like much. Believe me I had to be convinced. With the saving that Ryan and I are doing and our weekend jobs we are able to save about $700.00 extra every month right now. Crazy I know! Hopefully by the time the government sends us our bill we will have the money to pay it off in one big payment. Then we can go back to living our normal lives again!
Dear Tax God,
Please be kinder to us next year!
Love
Lindsay and Ryan
xo
This year Ryan and I have the unfortunate pleasure of owing the Government a lot of tax dollars. In light of this event we have had to change our tight budget yet again! Here's how we're doing it:
The days of only $100.00 a week on groceries is over, for a little while. Now we've cut down to only $50.00. I know, you all think I'm nuts and their is no way I can only spend $50.00 a week on groceries... but I can! Once a week we have eggs for supper (did I mention my brother owns a chicken farm?) which is a free meal. We buy a big bag of potatoes and make lots of side dishes out of the spuds. We use to always buy pre-grated cheese. Now for 1/3 of the cost we just grate our own, and have learnt to like it better! Cheap cuts of meat and getting creative with sauces is a must. Everything is homemade. Cookies, buns, pizza dough, etc. I'm digging deep into the back of my pantry to find items that I had previously purchased. No stocking up on things with a $50.00 budget.
Managing food has become important for us too. Always eating leftovers and never (EVER!) having bad food to be thrown away. If we know that we have leftovers that will go bad in a day or so they are eaten up right away. Waste not, want not.
Another way we are cutting funds is to do more things at home. Instead of renting movies at the store we're going to a friends house and borrowing a movie that neither of us has ever seen (thanks Jill!). We pop some popcorn (thank you full pantry) then sit back and watch an old movie that is actually new to us. We're cooking all meals at home and inviting friends over to eat with us instead of going out.
Within our budgets I always made some wiggle room so that we would have a little money to do with as we please. That has been cut down dramatically. We always put $20.00 a week away in an emergency fund. Now, that has doubled to $40.00 a week per person that is going directly into "paying of the *beeping* government" fund.
We always had a change jar but we never fussed over it. Now, every single penny we find goes into that change jar. You would be amazed how much all those pennies have added up so quickly! One full piggy bank of rolled change got us $300.00.
Saving pennies here and there may not seem like much. Believe me I had to be convinced. With the saving that Ryan and I are doing and our weekend jobs we are able to save about $700.00 extra every month right now. Crazy I know! Hopefully by the time the government sends us our bill we will have the money to pay it off in one big payment. Then we can go back to living our normal lives again!
Dear Tax God,
Please be kinder to us next year!
Love
Lindsay and Ryan
xo
WELCOME TO MY WORLD OF HATING THE TAX GOD....but let me remind you that since 2004 - I have owed the government roughly $25,000 probably, which HELLO, would be a nice down payment on a house or something but no its wasted money as I call it...this year now that I am caught up (well not really) I really hope he takes it easy on us...our advantage this year is a full year of daycare that we get back 100% - this year that amount is $6500, as much as I would love to have that $6500 in my pocket, I am thinking it wont happen like that, it will just be put towards what I owe...last year we only had half a year of daycare and it saved me some so this year, I'm sorta excited to see the outcome...SORTA being the key word...I'll be excited if I even out - I don't care about getting money back, but evening out and not having a monthly payment would be GREAT!!
ReplyDeleteAnyways good luck on the budgeting and spending $50 on groceries, I do groceries once a week at roughly $200 a trip...not fun!