[legsttt1]

Hello Ladies...I have been on here for a few weeks now..but I cannot figure out how to get my savings percentage.
I know my savings is not like a lot of you ladies who have very little OOP...I still haven't figured out how y'all do that...but I know I have cut down my grocery bill almost in half weekly.
My question is how do I figure out my savings percentage???
Example: Subtotal before savings:$117.49
Savings:$45.95
Spent :$73.93
I started a notebook now for my monthly grocery spendings and savings to keep track of it..that way I can come up with a budget.
We are a family of 6 and our grocery bill is the biggest expense we have..I really need to trim it down.
Any advice and the formula for savings would be greatly appreciated.
Thanks in advance!
Brandi

Where are y'all getting all these cute DD/DS faces etc...for you signatures?

[legsttt1]

I didn't get a reply so I tried to figure this out by myself...I hope it is correct.
To figure out your savings percentage...
Amount Saved / Amount BEFORE savings= % (Percentage) Saved
So divide your total savings by the amount BEFORE savings to determine your percentage...
Example: *$175 Total Before coupons and savings
*$55 Paid
*$120Savings
*120/175=.686 or68.6%

I calculated some of my grocery receipts...Not as good as what I thought...only about 35-40% savings.... I really want to be at about 60%!!
Any tips would be great..I need to lower my OOP quite a bit.
Thanks
Brandi

[KeizerMom]

Here's something I like to keep in mind when my percentage isn't as high as I'd hoped:

Just 10% off equals one month FREE a year {approx}

If you're saving 33% on average, that's equal to getting a free month out of every four months.

You can't save a flat amount across the board. You're going to save more on items with high coupons, like cleaning supplies or shampoo, than on milk & produce.

Once you've built up a stockpile of non-perishables, you may notice "I'm saving less percentage-wise this month!" but that's because you've eliminated some of your costs.

I know I can save awe-inspiring amounts like 93% at Walgreens on stuff....but then closer to 30% when I grocery shop at Super Walmart. I also have to keep in mind the savings right off the bat I'm getting by shopping at Walmart vs some of the other grocers.

Once things smooth out for my family it's my goal to start saving 10% of my savings, if that makes sense, and I hope to eventually go up to 50%. So if I save $85 on groceries, I'll start by transferring $8.50 into my PayPal account....as our finances stablize I'll do more.

[legsttt1]

Thank you! That made me feel a lot better and you made me think of a different perspective. Also..on my last 2 grocery trips..I got a lot of items for free from watching the grocery matchups on AFC which is GREAT!!!And also on those trips I got produce, Soy milk, and regular milk(have child with allergies)-- Those alone are a big chunk of my bill. But I got some really great deals from the fine people on AFC!!!

Thanks

[KeizerMom]

I got to thinking about this more, I'm going to see if I can't transfer 10% of whatever I save into my PayPal every time and then add that amount to my regular mortgage payment. Even just paying $20 extra will make a difference.

[Susuz]

The only thing I can remember from High School math is part over whole equals percent over 100....So yes, you are calculating it right.

I am with KeizerMom, if I can save 30% off my regular bill I think I am doing GREAT! Also, I stockpile the great deals when they are free or almost free, then I find that my regular bill is still going down. For instance I spent approx. 80 dollars last week, and had $40 in Q's after doubles, but the remaining $40 I didn't have coupons for and they were things I had to have...including 15 papers at 1.50 each and I got things for the Nabisco Rebate too!

You are doing great, and I like the idea of transfering the money, I may try that next! Just like recently when the sink stopped up and DH was out of town, I showed my DD how to take the sink apart...(DH was saying just call the plumber but my Daddy taught me how to unstop a sink.)
After we fixed it my DD told DH on the phone that night that he owed us $100 because that is what the service call would have cost! He said sure, so we split the $$$$$....

[legsttt1]

Y'all have great ideas! Right now I am thinking of putting my savings from the grocery bill to pay off some doctor bills.
I have noticed that I am bringing home A LOT more groceries! I may only be saving 30% but I am filling up my cabinets!
Thanks again for such great input!
Brandi

[jbarber8]

Sometimes the receipt will total your 'savings' for you, but I don't pay attention to that.

For example, Publix may have Ice Cream on sale for $3.99 per gallon. If their normal price is $4.99 per gallon, they will tell me I 'saved $1' even if I didn't use any coupon. I consider if Target and WalMart are cheaper than $3.99 on the same ice cream on a day-to-day basis, then in this example I didn't really save anything by going to Publix, except maybe gas and time because it's so close to my house. I don't count that $1 in my savings. I only count actual discounts and coupons.