YNAB - 1 year of budgeting, I can see why I'm in debt now

getmore4less

Might not work in London, but if you have access to a M&S or Waitrose Around Closing some stores discount stuff very heavily
Our M&S it is often 90% and 75%+ in Waitrose.

Also make sure if using the food chains you are using coupons and find someone that qualifies for discounts to dine with(like NHS)

getmore4less

Sharon87 wrote: »

My food bill is high and I do like eating out. I have cut back a lot on actual takeaways at home, it's just those trips to Nandos/Five Guys.etc I need to cut back on now and being more disciplined with lunches at work.

Cutbacks need to be realistic especially if it is a high priority item as it is for you.

Have you done a breakdown on frequency and any triggers.

It might be that there are times you do a meal but don't really enjoy it as much as others could you cut those out.

Is one of the triggers that you have not planned something at home so default to eating out.

As sazaccount says could you home make a lunch one or two days a week to start, perhaps if you have a planned meal out that evening make lunch.


Thinking about it, what are you getting for your £25pw?

In London with 5 lunches probably only 1 or 2 eat outs a week which is not that bad and if you enjoy them it might just be one of those items that will always be there at a reasonable level.

Sharon87

I've had a look at my YNAB spends in the restaurant budget

About:
£25 a month goes on eating out at restaurants (once a month on average, sometimes less)
£17 on fast food (travelling/hungry when shopping/coffee shops.etc)
£22 on takeaways at home (1 a month on average - lasts me multiple meals)
£40 a month on lunches (between £3 and £7 each, so around 8 times a month)

Spelling it out like that doesn't sound like much! It looks like maybe once a week is my limit for lunches, less takeaways (I regret about half of them - sometimes it's just I have nothing in I want or really tired from work - need to ensure I have easy things to cook in, like a pizza or something). Eating out - it's about right at that budget. I have a tastecard with my bank account, so sometimes use that.

Fast food I am trying to cut out as much as possible - trying to lose a bit of weight too! I spent £150 on Mcdonalds/KFC/Five Guys last year in total.

Chandelier.

I think the key here is to plan ahead re your food spends. You need to set a realistic budget that factors in all of the above. Set a target amount per month and work backwards from there. Once it's gone it's gone and you wait until the next month starts.

You can easily cut back in this category, a lot of it takes planning ahead to get where you want to be.

Just think, what you save from your food expenditure could go towards a future holiday or towards paying more off the CCs.

I set myself an entertainment budget which covers everything including food spends. I use a seperate account which keeps track of these expenses and I check it daily to see what's left and what I can afford to spend or where I need to cut back on. I'd rather say no to a meal out one week and put the expenses towards something else that I will get more enjoyment from.

getmore4less

Looking at that breakdown

One meal a month keep it in

I think you would benefit from making sure you plan your food stock at home better to avoid the I've got nothing to eat problem.
Maybe up that budget a bit to have some nice stuff to come home to.

Also avoid the temptation to get takeaways that will do multiple meals

£22pm buys a lot of very nice food for a few meals at home like seriously good burgers or substitute a steak spiced chicken at home is a easy cook under 30mins.

Can you carry some snacks or fruit to catch the hunger moments when out and about. Or plan these outings after eating.

Lunches is the big one, meal plans that have leftovers for lunches might work look at what you like for lunch that you buy and replicate or try something different.

One snack I had in reserve at work were noodle soups, I liked the Korean ones, just need access to hot water, a microwave helps get them hotter after standing.

If you can make wanting to eat at home more attractive then the cutbacks will just happen.

bishbut

As a single pensioner (basic pension)I have worked out I have spent just £14 pound per week over the last 12 months on food ,drinks,cleaning materials etc at ASDA .I usually do not buy anything elsewhere just the occasional item .I try to eat out once a week but most of my meals are at home I keep note of what I have spent at ASDA and calculate at the end of the year I spent less in 2018 than 2017 but not by much.I also go away on holidays

Chandelier.

£25 a month goes on eating out at restaurants (once a month on average, sometimes less)
£17 on fast food (travelling/hungry when shopping/coffee shops.etc)
£22 on takeaways at home (1 a month on average - lasts me multiple meals)
£40 a month on lunches (between £3 and £7 each, so around 8 times a month)

All of the above comes to just over £100. If you cut this in half, you could throw that extra £50 to the CCs or to your holiday fund, whichever you choose. I won't say remove this completely as its nice to have a treat once in a while but just be picky about what you want. Are fast food chains really worth the price they charge? Although tempting, I often feel disgusting afterwards. We don't really have takeaways either, we keep a pizza or such other quick items in for when we can't be bothered to cook. I would rather do that then spend £15/20 on a take away. I would much rather save and put it towards a nice meal out each month

determined_new_ms

Sharon87 wrote: »

I've had a look at my YNAB spends in the restaurant budget

About:
£25 a month goes on eating out at restaurants (once a month on average, sometimes less)
£17 on fast food (travelling/hungry when shopping/coffee shops.etc)
£22 on takeaways at home (1 a month on average - lasts me multiple meals)
£40 a month on lunches (between £3 and £7 each, so around 8 times a month)

Spelling it out like that doesn't sound like much! It looks like maybe once a week is my limit for lunches, less takeaways (I regret about half of them - sometimes it's just I have nothing in I want or really tired from work - need to ensure I have easy things to cook in, like a pizza or something). Eating out - it's about right at that budget. I have a tastecard with my bank account, so sometimes use that.

Fast food I am trying to cut out as much as possible - trying to lose a bit of weight too! I spent £150 on Mcdonalds/KFC/Five Guys last year in total.

I find if I factor in a nice meal a week it helps with sticking to meal planning and reducing takeaways - we often go for a big walk and stop at a pub. Sometimes over the last year we would get a lunch as well. 2 x ciabattas, a portion of chips for lo and a drink each easily comes to £25 so I started getting the ingredients in so we could still go for the walk and have a pint but know we had a lovely lunch at home for say £8 instead of £25.

Also always keep a couple of nice pizzas in the freezer for those cbb evenings. I also pick up a takeaway for 2 if I ever see them reduced and just keep in the freezer for when we fancy a take away. Takeaways are never as nice as they seem and full of regret for me, both in terms of health and finances.

I love the golden arch breakfasts and used to get one once a week. In the end I decided £200 on this a year was a waste of money so now I roughly get one once a month. Still love it, so don't want to cut it out, but a waste of money and unhealthy to boot!

PipneyJane

Sharon87 wrote: »

I've had a look at my YNAB spends in the restaurant budget

About:
£25 a month goes on eating out at restaurants (once a month on average, sometimes less)
£17 on fast food (travelling/hungry when shopping/coffee shops.etc)
£22 on takeaways at home (1 a month on average - lasts me multiple meals)
£40 a month on lunches (between £3 and £7 each, so around 8 times a month)

Spelling it out like that doesn't sound like much! It looks like maybe once a week is my limit for lunches, less takeaways (I regret about half of them - sometimes it's just I have nothing in I want or really tired from work - need to ensure I have easy things to cook in, like a pizza or something). Eating out - it's about right at that budget. I have a tastecard with my bank account, so sometimes use that.

Fast food I am trying to cut out as much as possible - trying to lose a bit of weight too! I spent £150 on Mcdonalds/KFC/Five Guys last year in total.

Hello. I've just been thinking about your expenditure, having read the thread over my lunch break.

Please join us on the Old Style Board, particularly in the monthly Grocery Challenge. We'd love to help you cut down on your grocery spending and we're good at last minute meal solutions and taking-your-lunch-to-work.

You mentioned that you are a contractor - do you have an emergency fund to cover your expenses during those times when there is no work? 3-6 months is the usually recommended, but I'd aim for at least 6 months of personal money plus building up to 6 months of "salary" left in my company so that I can pay myself holidays and salary when I'm out of work. It took me long enough to pay off my own credit cards; I don't want to start down that slippery slope again. (I'm a contractor too, contracting through my own limited company. I'm currently working on building up that 6 month cushion.)

Good luck.

- Pip

Sharon87

PipneyJane wrote: »

Hello. I've just been thinking about your expenditure, having read the thread over my lunch break.

Please join us on the Old Style Board, particularly in the monthly Grocery Challenge. We'd love to help you cut down on your grocery spending and we're good at last minute meal solutions and taking-your-lunch-to-work.

You mentioned that you are a contractor - do you have an emergency fund to cover your expenses during those times when there is no work? 3-6 months is the usually recommended, but I'd aim for at least 6 months of personal money plus building up to 6 months of "salary" left in my company so that I can pay myself holidays and salary when I'm out of work. It took me long enough to pay off my own credit cards; I don't want to start down that slippery slope again. (I'm a contractor too, contracting through my own limited company. I'm currently working on building up that 6 month cushion.)

Good luck.

- Pip

I have some savings, it's saving for long term/potential deposit on a house, but could be used as an emergency fund. There's only about £700 in at the moment. I save £60 or more a month for this.

I used to be really good at food budgeting and spending less. These days I like my good food and sometimes try and buy the better quality meat (free range chicken if I can afford it). I'm trying to be good at work with food. Today I had a jacket potato with beans and cheese - cost me less than a pound (would have been close to £6 in the local cafe - extortionate, but that's London!)

I actually came home after drinks today and whilst fast food was tempting I did have last night's dinner leftovers to eat. I just need to get back into the habit of cooking more for leftovers.