Today on MoneyLife

On today's program, Chuck Bentley and Dave Ball discuss ways to save money while still providing healthy meals for your family.

Chuck begins the program talking about fixed and variable expenses. Every household has some of each. Your mortgage is a fixed cost, while the grocery budget is variable.

To create margin, income must go up, or expenses must go down, or both. Saving money on groceries will help you lower your expenses.

Crown recommends the average family spend 11-15% of its net spendable income on food. That can be adjusted based on the size of the family. The average household spent $3,240 on groceries last year.

When evaluating food expenses, you should include eating out and snacks, not just groceries. You'll save money if you cook more and eat at home. You can also save money buying food in bulk. Consuming fewer calories can also save money. Most of us consume more than we need.

Steps to cutting your grocery spending:

• Shop with a plan, knowing what you need to buy
• Shop alone to avoid getting off track and buying more
• Don’t shop when you’re hungry
• Stick to your budget, using cash if necessary to keep from overspending
• Limit your trips to the store, striving for no more than once a week
• Shop online to find great bargains
• Use coupons

Chuck describes a meal of steamed chicken, rice, and cranberries that costs less than $2 a serving. Dave describes a meal of beans and rice that his family has once a week, buying the beans and rice in bulk. Dave also says that instead of going out once a week, his family enjoys a special meal at home which is less expensive and more healthy.

Chuck shares about having a "Pancake Night," or an "Egg Night," using breakfast foods for supper. Another great piece of advice is to stock up on items you normally use when they are on sale. You can also form a shopping pool, working with other family members, friends, neighbors to buy sale items for each other, getting reimbursed later.

Try to keep an updated list of what you have in the pantry, refrigerator, freezer, so you know what you need to buy, and always, comparison shop!

Other great shopping resources include:

• Amazon.com
• CouponMom.com

In the closing segment, Chuck reminds listeners that Crown Financial Ministries relies on them to keep MoneyLife on the air. The ministry depends on listeners who have been blessed by the program for support. To donate online, click here.

Chuck reminds listeners of the resources available at Crown.org:

• Free Financial and Career Tools
• Free Spending Plan forms (pdf)
• Online Money Map Coaches

Chuck closes the program saying that he and Dave are going to see a new documentary titled, I.O.U.S.A. and that they'll share their thoughts after seeing the film.

For great ideas about saving money at the gas pump, right click (For a similiar program on saving at the gas pump, see the August 7, 2008 MoneyLife program. To download the audio, right click here and select "Save target as.."

Saving on the Food Budget

Every family enjoys saving money. If the family food budget is greater than recommended, there are steps that can be taken to reduce food costs.
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Strategies for Staying on Budget

Here is a list of ideas to save money in many areas of your finances.

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Steps to Making a Budget

In making a budget, there are several steps, each requiring individual effort.

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How to Control Spending

A good way to reduce debt is to develop discipline in spending habits.

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Other Resources:

• ABCs of Money Package
• Career Direct
• God's Pinciples for Operating a Business
• Business By the Book
• Crown Mvelopes