Worried about paying over listing price for that dream home? You might not need to

Homes selling above listing price drop

Home prices might not be declining, but there’s still good news for homebuyers. According to new data, the number of homes being sold above listing price just fell to a three-year low.

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Above-asking home sales decline

A new analysis from Zillow shows that the number of homes selling above listing price dropped to 19.9% last year. It was down from 21.5% in 2018 and the lowest share seen since 2016.

Before 2019, there had been four consecutive years of increases in the above-listing price share of home sales.

That’s not the only good news in Zillow’s data, though. Of the homes that did sell above list price last year, the premiums paid by buyers shrank. In 2018, buyers paid about $5,500 more on homes that sold above listing price. In 2019? It was $5,100.

Treh Manhertz, an economic data analyst for Zillow, calls the data “a reflection of cooling market dynamics and subsequent shifts in pricing and offer strategies in response.”

Homebuyers take note: These are the cities where home values will appreciate most in 2020

San Fran buyers suffer most; Miami’s win out

San Francisco claimed the largest share of homes being sold above listing price at 48.6%. California’s San Jose came in second (38.8%), with Boston, Minneapolis, and Seattle rounding out the top five.

In San Jose, buyers paid about $41,000 over asking price, while those in San Francisco paid $37,500. Both numbers have dropped since 2018, when buyers paid $101,000 and $50,000 more, respectively.

New analysis: Spring homebuying season may be the last affordable one for a while

Miami buyers saw the fewest above-listing sales at just 8.9%. Las Vegas (12.6%) and Tampa (13.3%) also had small shares.

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Looking to buy a home before prices heat up again? Then shop around and see what mortgage rates you qualify for today.

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Source: themortgagereports.com

‘There’s Been a Threat of Mass Evictions’: Biden Plans to Extend National-Eviction Moratorium Through September 2021

President-elect Joe Biden is calling on lawmakers to extend the national eviction moratorium for another eight months — one of the many housing-related proposals he is making as part of his $1.9 trillion stimulus plan.

Biden proposes extending the national moratorium on evictions and foreclosures until Sept. 30, while also setting aside funds to provide legal assistance to households facing foreclosure or eviction. He further called for housing agencies to continue allowing applications for forbearance on federally-backed mortgages until that date.

Foreclosures were paused last spring early in the pandemic. The CARES Act included an eviction moratorium through late July 2020 that only applied to certain, federally-funded rental units. But last September, the Centers for Disease Control and Prevention issued a nationwide moratorium on evictions that covered the vast majority of renters nationwide.

The latter moratorium was set to expire at the end of December, but the stimulus package passed by Congress last month extended it until Jan. 31 of this year. Extending the national eviction moratorium even further was a priority for housing advocates, who have warned that the assistance provided by previous stimulus packages would not be enough to prevent a full-fledged housing crisis.

“There’s been a threat of mass evictions (to the tune of 10 to 20 million or more taking place within just weeks) facing us since summer of 2020,” Eric Dunn, director of litigation at the National Housing Law Project, said in an email. “The successive rounds of moratoriums and protections have largely staved that off, though unfortunately we still have seen lots of evictions. But we could really see that big crisis unfold if the major national evictions protections are allowed to expire.”

Not only would this massive wave of evictions be financially devastating to potentially millions of Americans, but it could also jeopardize public health. Prior to the implementation of the national eviction moratorium, states that allowed their own moratoria to expire saw a higher rate of COVID-19 cases and deaths than the states that maintained the bans, one study showed.

‘It’s difficult to make good decisions and preparations when you don’t know whether you’ll need to move out of your home in a week or two, or whether you’ll be able to stay longer.’

Eric Dunn, director of litigation at the National Housing Law Project

If lawmakers do end up pushing the end-date on the moratorium back until Sept. 30, it will also give renters more room to make well-considered decisions about managing their finances. While the short-term extension that was just issued in December did provide a lifeline to Americans, “it’s difficult to make good decisions and preparations when you don’t know whether you’ll need to move out of your home in a week or two, or whether you’ll be able to stay longer,” Dunn said.

Beyond extending the eviction and foreclosure moratorium, the incoming Biden administration is also calling on lawmakers to come up with an additional $30 billion in funding for emergency rental, energy and water assistance for hard-hit households, plus $5 billion in emergency assistance to people experiencing or at risk of homelessness.

“While the $25 billion allocated by Congress was an important down payment on the back rent accrued during this crisis, it is insufficient to meet the scale of the need,” the Biden team noted in a fact sheet regarding the broader stimulus package.

The percentage of Americans experiencing housing insecurity has grown in recent weeks — it now stands around 9.5%, up from 7.2% two months ago. Additional funding should help households struggling to afford the cost of housing amid the pandemic to get on top of their finances, but it won’t necessarily be able to last them much longer.

Last year, housing advocates and landlords called on lawmakers to approve $100 billion in rent assistance, which experts said was meant “to be a floor, a minimum that would be needed.”

Diane Yentel, president and CEO of the National Low Income Housing Coalition, said on Twitter that the $55 billion in emergency rental assistance from Biden’s proposal and the December package, plus the $2,000 in stimulus checks and expanded unemployment insurance, “may be enough to cover back rent/utilities and some forward rent,” but would not be sufficient to carry struggling renters through the pandemic.

Housing advocates have also argued that the incoming Biden administration could impose more aggressive policies designed to protect renters. For instance, the national moratorium has gaps that leave people vulnerable if they have non-traditional rental arrangements.

And the moratorium lacks enforcement mechanisms — leaving it up to state and local authorities to implement. Consequently, many people are still being evicted who should be protected by the national ban.

‘Even when a tenant wins a case, eviction is a legal record that prevents families from safe and decent housing, employment, home ownership and public housing, among other harms.’

Emily Benfer, a housing and public health lawyer

Looking to the future, advocates have also proposed protections for tenants when they seek new housing after experiencing insecurity. While the moratorium may prevent evictions from happening, landlords can still bring renters to court, and those records could make it harder to find housing in the future.

“Even when a tenant wins a case, eviction is a legal record that prevents families from safe and decent housing, employment, home ownership and public housing, among other harms,” Emily Benfer, a housing and public health lawyer and visiting professor at Wake Forest University, noted on Twitter.

Whether the incoming Biden administration can achieve these lofty goals remains to be seen. Biden reportedly hopes to have the stimulus package passed on a bipartisan basis, but he may face pressure to use the budget-reconciliation process instead, given the small majorities Democrats have in the House and Senate. However, Yentel noted that some of Biden’s stimulus-related housing agenda could be achieved through executive order, including the moratorium extension.

Source: realtor.com

5 Ways to be Better at Conscious Consumption

This post may contain affiliate links. Please read my disclosure for more information.

We’ve all been there. You walk into your favorite store, the one with the amazing branding and the conveniently set up dollar bins and somehow walk out with $100 worth of stuff when you just went in for conditioner. Or is it just me?

I have accumulated stuff over the years sitting in drawers and boxes, cluttering up my closet and I have no idea how it got there or why it is there.

Since taking a closer look at my finances and being more aware of my purchases, I was embarrassed by the number of foods from the grocery store that went uneaten and scented candles gone unlit. I’m not against candles, I love candles! But I’m starting to realize that I don’t need every scent just because they’re $3.

And I also care about the story of my purchases. Where did it come from, how did it get here, and is it beneficial for the future if I buy it? It’s a common trait in millennials; we want to be good stewards of the earth’s resources and ethical to people around the world. It’s transformed the way I look at shopping.

So now, I pay attention to what I buy.

It didn’t start out so well. Thinking about my purchases looked more like just staring at the bottle of wine a little harder as I put it in my cart. But I’ve developed 5 habits that make me more confident that what I’m consuming is good for me and good for the rest of the world.

Reduce, Reuse, and Recycle

We’ve all heard the phrase before. But did you ever think there’s a reason they’re put in that order? Recycling gets a lot of hype but priority #1 is actually to reduce as much of our consumption as possible. Priority #2 is to reuse what you already have for as long as you can. I’m not talking kids crafts with leftover egg cartons. I mean repurposing and upcycling. Then as a last resort recycle whatever’s left.

Buy Secondhand

I’m known for being a big proponent for gently used fashion but my love for all things secondhand goes far beyond wearing it. Buying secondhand cars, home décor, and furniture can not only save you money but also reduce the quantity of items that have to be made to keep up with demand.

My logic is most definitely flawed but regardless I think of it like this: even if that Forever 21 top was made in a sweatshop, buying it secondhand instead of new, saves someone from having to produce one more top. It gives me more freedom in the thrift stores and my favorite online consignment shops like ThredUp.

Shop Local

I live in a city where local is a way of life. Big box stores and restaurants can’t touch our downtown because the city is committed to shopping at independent businesses. And for produce, the Saturday Morning Market is always packed.

Buying local means you can help more people without spending more money. Each dollar you spend returns 3 times more money into the local economy than one spent at a chain and almost 50 more than one at an online mega-retailer.

Pro tip: Be cautious at farmer’s markets to make sure the produce is actually local. Big agriculture farms will often outsource to dealers meaning you’ll buy from a 3rd party vs. buying from an actual local farm.

Buy Quality

Ask yourself: How long will this last? Will I still want to wear it in 3 years? A classic shirt that costs $35 but will last you twice as long as a $19.99 fast fashion shirt is actually a better deal. Things that can break easily or you know you replace often are worth the extra money for better quality.

Minimize Waste

I’m bringin it full circle for this last one, just to emphasize: use less, waste less. This trick not only saves your money from thoughtless buys but is the easiest way to be better to the environment. After all, you don’t have to think about the quality and source of your purchase if you just don’t purchase it.

Don’t feel overwhelmed by all the steps you need to take and money you need to spend to become the ultimate conscious consumer. Make small changes day to day and you’ll see that the more you ask yourself these questions, the more they’ll become a way of life. And your wallet and the earth will thank you.

5 Ways to be Better at Conscious Consumption

5 Ways to be Better at Conscious Consumption

<img data-attachment-id="4966" data-permalink="https://www.modernfrugality.com/save-money-online/mf-5-easy-ways-to-practice-conscious-consumption/" data-orig-file="https://i2.wp.com/www.modernfrugality.com/wp-content/uploads/2016/11/MF-5-Easy-Ways-to-Practice-Conscious-Consumption.png?fit=600%2C900&ssl=1" data-orig-size="600,900" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="Want to be a more conscious consumer?" data-image-description="

If you’re looking for easy ways to be a conscious consumer, read this. Tips and tricks to help you spend your money better. #consciousconsumer #consciousconsumption #spendbetter #wisespending

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Jen Smith is a personal finance expert, founder of Modern Frugality and co-host of the Frugal Friends Podcast. Her work has been featured in the Wall Street Journal, Lifehacker, Money Magazine, U.S. News and World Report, Business Insider, and more. She’s passionate about helping people gain control of their spending.

Source: modernfrugality.com

Pros and Cons of 0% Interest Balance Transfer Credit Cards

sWoman credit card

Woman credit card

Transferring your debt to 0% interest balance transfer credit cards seems like a no-brainer right?

You’ll pay no interest for a promotional period of time so 100% of your payment will go to the principal.

Sounds like a win to me.  And quite often it is a win.

But not always.

When you know all the pros and cons, you can accurately determine if transferring your debt to a balance transfer card makes sense for you.

With that in mind, I’ve put together this complete list of pros and cons to help you decide if you should transfer your balance.

Do your due diligence and weigh all the pros and cons of a balance transfer credit card to make sure it will really help you save money while paying off your debt faster.

Table of Contents

how you transfer your debt to a balance transfer credit card the right way.

A 0% balance transfer card can save you money

Clearly paying less interest on your credit card debt will save you money.

Just remember to run the numbers, taking into account the balance transfer fee and the promotional and standard interest rates.  I recommend using a good credit card payoff calculator.

Here’s an example of good balance transfer numbers:

Say you have $5000 in credit card debt which requires you to pay 30% interest.

If you pay $300 a month, you will pay off that card in 22 months.  It’ll cost you $1,549 in interest for a total of $6,549.

On the other hand, if you transfer that balance to an 18-month, 0% interest credit card your numbers would look like this:

You would pay the same $300 a month for only 17 months, paying $0 in interest for a total cost of $5,000.

Most credit card companies charge a 3% balance transfer fee, which in this example works out to $150.

That means you would save $1,549 dollars minus the $150 balance transfer fee for a total savings of 1,399 with the added benefit of paying off your debt 5 months sooner.

In the interest of balance, we’ll run the numbers on a balance transfer that doesn’t add up to such an obvious benefit once we take a look at the cons.

You can enjoy better terms and even get rewards

The credit card landscape is extremely competitive, and companies are trying harder than ever to capture your business.

Why does this matter?

If you have lousy terms with your current credit card, such as high fees or a short grace period, you can dump that credit card and enjoy better terms with someone else.

Shop for not only the best introductory interest rate but also for a better interest rate once the promotion period ends.  Also look for credit card rewards on new purchases.

Here’s the thing:

If you’re going to go through with a balance transfer, make sure the new company treats you better than your current one.

Consolidate your credit card debt to make your finances simpler

Consolidating your credit card debt makes budgeting a little easier and more convenient.  Just having all your debt in one place makes it easier to manage and pay down your debt. What’s more, transferring your balance to a 0% card can create space in your budget, which is ideal if you’re trying to stop living paycheck to paycheck.

The Cons of Balance Transfer Credit Cards You Need To Know

The APR is only temporary

Never forget, the banks are making a bet on you.

They are willing to give you an attractive promotional rate and they are counting on you not paying off your balance on time.

If you don’t pay off your debt before the promotional rate expires, you’ll be hit with the considerably higher revert rate.  Don’t be surprised if this rate is in the 25%-30% range.

But you don’t have to get stuck with this rate.  Instead, do your homework ahead of time and make sure the revert rate is not excessive.

Even better, only get a balance transfer rate if you know you can pay off the balance during the promotional period.

Balance transfer accounts can be very expensive

Typically banks charge a balance transfer fee of 1% to 3% as well as the annual service fee.

In the “Pros” section above, we showed you an example of a balance transfer credit card which saved you money.

Now let’s take a look at a balance transfer that’s not quite a slam dunk like before.

Let’s say you have a credit card with a $3,000 balance in which you are paying 20% interest.

If you are paying $140 per month, you will pay off the debt in 27 months, including $742 in interest.  In total, you will pay $3,780 in this scenario.

But what if you found a balance transfer credit card offering a 12-month promotional period with 0% interest and a standard 3% balance transfer fee.

You could transfer your balance for $90 and pay down $1,680 of your debt in the first 12 months.

Your balance (initial $3,000 plus the $90 transfer fee) of $3090 would be $1,320.

Now the bad news:

The promotional period ends and the bank pumps the interest up to 30%.

If you continued paying $140 per month, you would pay off the debt in a total of 23 months.  Your total out-of-pocket expenses would be $3,320, including only $204 in interest fees.

To recap this scenario:

Current credit card: You would pay a total of $3,780 over 27 months with your current credit card at 20% interest.

Balance transfer credit card:  Including the balance transfer fee, you would pay $3,320 over 23 months.  You would save 4 months payments and save $460 dollars.

Don’t get me wrong, $460 is a nice sum and at first glance, and it may seem worth it to do the transfer.

But when you consider all the potential cons we’ve mentioned, $460 may not be enough of a benefit to outweigh the other factors.

The point is, run the numbers and make sure the risk/reward ratio works in your favor.

Balance transfers are not always included.

Don’t assume every 0% APR offer is good for balance transfers.  Nearly all of these offers are good for new purchases made on the card.  But the same is not always true for balance transfers.

In other words, sometimes the 0% APR offer applies to balance transfers, sometimes it doesn’t.

I can’t emphasize this enough;

Before you consolidate your debt on a new card, check the terms and conditions carefully to ensure balance transfers are also eligible for the promotional rate.

Balance transfers can potentially hurt your credit score

Your credit score can take a hit when you open a new card.  Your score will drop if the balance of the new card is over 30% of the card’s limit.  Not to worry, making your payments on time will negate this penalty soon enough.

Here is another credit score consideration:

In order to minimize the risk of running up debt, many people close their old account after the balance transfer is completed.

This is wise and it is what we usually recommend.

But there is one exception:

If you’re going to be applying for a home loan in the near future, it’s probably smarter to keep the old account open because closing accounts usually hurt your credit score.

Final credit score consideration:

Closing accounts with zero balance will actually raise your credit utilization percentage, the amount of balance you carry versus the amount of credit you have available to you.

The truth is, the lower your credit utilization – the better your credit score will be.  So, closing your old card could hurt your credit score.

That’s not all.

Closing an old account may hurt your length of credit history, which can also negatively affect your score.

In other words, closing your first credit card account may hurt the length of credit history and, consequently, your score.  Conversely, closing a more recent account would not affect your score in this way.

Bottom line?

If you’re not getting a mortgage anytime soon, you probably shouldn’t worry about the credit hit too much.

Paying off debt, and staying out of debt, are the bigger, more important goals here.

Late payments can kill your APR

Sadly, that enticing 0% promotional interest rate can be lost in the blink of an eye.  All it takes is one late payment.

Read the disclosures carefully to make sure you understand the terms of a credit card offer.  The card issuers often have the sright, to not only end the introductory period but also to hit you with a hefty penalty APR, usually in the staggering neighborhood of 30%.

You are exposing yourself to potentially more debt

As I mentioned before, the banks are betting that you won’t be able to resist making more purchases and racking up more debt.

So if you’re going to do a balance transfer, vow to yourself that you are doing so strictly to help you pay off your debt.

Cut up your cards, or hide them in a safe place, so you won’t be tempted to use them for impulse buys.

Should you get a balance transfer credit card?

Transferring your debt to a 0% interest credit card only makes sense if the purpose is to pay down debt.

Even then, there are pros and cons to consider when deciding if you should or should not get a balance transfer credit card.

The Bottom Line About Balance Transfer Pros and Cons

The truth is, if you’re considering transferring a credit card balance for any other reasons besides saving money and getting out of debt faster, you probably should not do it.

Don’t fall into the trap of thinking the balance transfer is all that needs to be done to get your finances back on track.  If you don’t have a plan to pay down debt and stay out of debt, a balance transfer card will probably be counter-productive and lead to more debt.

But the bottom line is this:

When it’s done the right way as part of a debt reduction plan, and only after you have run the numbers and read the terms and disclosures, a balance transfer credit card can be a very effective tool to save money and pay off debt faster.

Like it?  Share it!

Was this article helpful?  If so, please consider sharing it so that others can benefit from it too.  Thanks!

Related: Busted! The Myths of Balance Transfer Credit Cards

Pay Off Credit Cards Sooner With Bi-Weekly Payments (Saves $1000’s)

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Source: incomist.com

The Frugal Mom’s Guide to Meal Planning on a Budget

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frugal mom guide to meal planning

Meal Planning Can Help Save You $1,600 a Year on Your Grocery Budget!

Hmmm… donuts, pizza & mojitos OH MY! Isn’t it amazing how one stray sentence can totally take over your mind! Food is tasty, a treat, and can be downright mesmerizing! It can also be one of our biggest budget busters! We want what we want and when we want it (sometimes we hate wanting it (I’m talking to you brownies!) This gets us into trouble with our waistline as well as our wallet!

I have my fingers crossed that one day there will be a resurgence in renaissance body love, all curvy & pale 🙂 Yet, I know that eating healthy needs to be a top priority. I know this because I tell myself this almost daily. You too? We want to do what’s best for our bodies and our wallet, yet sometimes those two things don’t always align. I mean, 1 lb organic strawberries in February can be $8.99! (don’t choke!)

So how do we align saving money on food while eating healthy? The answer is simple, yet kind of intimidating at first glance. It’s meal planning on a budget! DON’T WORRY and don’t get overwhelmed; it can be a lot easier than you imagine. I’m going to walk you through the main points to nail this piece of the grocery budget puzzle. So you never have to worry about hearing, “Mom, what’s for dinner?” ever again!

frugal mom guide to meal planning

This post may contain affiliate links. Please read my full disclosure for more info

Feeding our body healthy foods has been a long time passion of mine. Previous to Money for the Mamas, I taught kids how food grows at combo learning farm & CSA. For 90 minutes, we talked about soil, farm animals, water quality, and most importantly, how our food grows and why fruits & vegetables are so important. I also did a stint with the State of Oregon and the national level, Farm to School movement, which helps schools create programing around healthy foods. Fantastic work, which is both heartbreaking and hugely rewarding!

With that experience, I know that meal planning can be a great solution, as moms, I know how we want to do our best to provide healthy foods for our family. Yet, rising food costs do not make this easy for us.  

The Street reports that in 2018, the average American household spends $7,729 per year on food, which is about 12.8% of our after-tax income. Yet, with our current situation (August 2020), costs are rising. “April of this year food prices had the largest monthly increase in 46 years!” says ABC News.

There are many different ways that you can save money on groceries, but today we’re just going to talk about one specific element, meal planning on a budget! Which can still be healthy family meals, you just need to plan things out (and plan for the days when you “just can’t even” think of cooking)!

Now, I’m not going to say that an occasional frozen pizza doesn’t sneak into my freezer (and my belly), but I try really hard to balance those not so healthy items with better for you options.  

Meal planning to save money on groceries

Let’s get down to specifics on exactly how meal planning can save you money in your grocery budget.

Saving money by not buying foods that you won’t eat

I cannot even tell you how many times I’ve bought veggies with the best intentions of eating them! And then that sad and guilt-ridden sound of the “thunk” as the jicama falls into the trash. Arg!

When you meal plan, you decide what you are cooking and eating and when, there is a “plan”, not some vague intention. When you know that on Tuesday it’s spaghetti squash & meatball night, you can be dang sure that the veggies are getting eaten and will not go to waste!

Speaking of food waste, you all know the squishy, greeny brown scenario at the bottom of the produce drawer. But what does this look like to our wallet? According to Marketwatch, “As much as 40% of food goes uneaten in the U.S! Americans throw away $165 billion in wasted food every year.” According to Harvard Law School’s Food Law and Policy Clinic and the Natural Resources Defense Council, some 160 billion pounds of discarded food also clogs up landfills.

What that means is roughly, “219 lbs of food per person is wasted a year” quotes RTS (waste experts), and that’s $1,600 a year for a typical sized family!

Think of taking your grocery budget, pulling out 40% of the money, and just throwing it in the trash! Oh. Hell. No.

That’s crazy! Yet, we don’t intend to do; it just happens. And meal planning is one of the best ways to combat this by buying only what you know you will use for that week (or however often you go to the store).

meal planning is so you never hear "Mom what's for dinner?" again!

Know your food costs  

You can still buy most of the same foods but know which of your local stores have the best prices. For example, there are two stores of the same chain, maybe 4 miles apart, and one of them has consistently lower prices than the other. So I always go to the cheaper one.

Also, when you sit down to do your weekly menu, you can look at store flyers to see who might have chicken breasts on sale, or who has digital coupons for your favorite brand of cheese.

You may go to a Kroger store for chicken and then go to Target for sale on frozen burritos (a favorite late-night snack of my husband). Yet, for this to be a genuine savings, you need to consider the cost of your time & gas driving to multiple stores. If you’re spending 45 minutes driving to a store to save $.40 per pound on beef, that’s not saving! Your time is valuable, so absolutely count that into the equation.

Many times stores will have loss leaders (items they sell at a loss just to get people into their store”. Did I mention that I worked in a grocery store for six years? No? Well, I did. It is a fantastic, socially conscious store (B-Corp certified) that helped bring healthy and local food to the communities they serve.  

Yet, they weren’t cheap. Even with a staff member discount, I was paying a lot for my groceries. Yet I knew that certain times of the year, they would offer boneless skinless chicken breasts at $2 off the regular price (that was basically at cost for the store), $4.99 vs. $6.99. I bought enough chicken to last a long time. We’re talking like 20 breasts. Then I would take them home, portion two breasts into a freezer bag and boom, chicken for months!

I knew about these times, so I planned it into my budget. Other times of year stores have a sale is their anniversary day (or founder days), or holidays. Each chain is a little bit different, so don’t be shy. Ask them when their big sales are!

Go the extra mile and ask them which days they mark their items down. For example, canned goods may go on Tuesday, boxed goods on Wednesday. Or they may go by the department, dry grocery on Monday, and perishable grocery (dairy and such) on Friday. Ask them what time of day they start and when they finish. Then see if you can go in near to the time that they are wrapping up.

Meal planning saves you time

As a super duper busy mom (aren’t we all?), one of the things I hate most is standing in front of the fridge trying to decide what to fix. When this happens, my mind immediately goes blank; nothing in the refrigerator looks good to eat. In the past, I would waste maybe 10-30 minutes a day just trying to decide what to make. What a waste!

By meal planning, you always know because you posted the weekly menu on the fridge! And what’s better is that your family never needs to ask you, “what’s for dinner?”

free saving money printables

Resources to meal planning on a budget

Luckily, many women have masted the art of meal planning (hey, no reason that we need to reinvent the wheel!). So let’s dive in to see how others have meal planned on a budget.

The Healthy Meal Planning Bundle

If you’re a one-stop-shop kind of mom (me!), then you’re going to love this fantastic resource! It’s a bundle of 58 products all around meal planning, tied up in one neat package! You just buy it once (for a crazy low price), and you have access to all 58 items!  You need to act fast, as it’s only on sale for the week of August 17th – 21st!

There are 11 Cookbooks, 15 Meal Plans, 11 eBooks, 9 eCourses, 10 Printables, 1 Membership, and a Summit. (Plus some great free bonuses and an early bird buyer special thank you gift!)

health meal planning bundle

The Healthy Meal Planning Bundle is a great option because it’s all around this very specific topic of healthy meal planning (not all are low cost specific). Still, the bundle as a whole is very cost-effective, so you can meal plan on a budget (and there are a few resources around being budget-conscious).

Here are the main categories that the bundle covers…

  • Budgeting
  • How to get started meal planning
  • Kid-friendly
  • Meal organization
  • Quick & easy
  • Real food & nutrition
  • Specialty diets
  • Weight loss

Now, you may be wondering why you would ever need 58 items all around the same topic? Totally fair question by the way. Let’s just say it like it is; we won’t vibe with everyone we meet or learn effectively from one particular teaching style. So in the bundle, some information may overlap, but that’s a good thing!  

So many times, I read about a topic that I already know a lot about. Yet, one person says something in a specific way, or in a particular tone where it just “clicks” for me! The lightbulb goes off, and I suddenly “get it”! I am thrilled when this happens as it could have something that I didn’t quite understand, or never really knew why it was a big deal.

The great thing about this bundle is that they are giving everyone a free jumpstart by hosting a free Meal Planning Bootcamp starting August 11th. Yes, that’s coming up soon! Here, you can get a taste of some of the information, and get geared up to start your own meal planning journey.  

The best part is that it’s a challenge, so you are participating right alongside other women just like you! Going through things together, so you can bounce ideas off of each other, learn from those who tried XYZ, and help others with your own experiences. Don’t forget that it’s free! Yup, zero cost to join in and participate!

Now don’t worry, if you’re reading this after August 11th. The bundle still exists, but it’s only available for a limited time. However, they bring it back annually, and sometimes they even do a flash sale after a few months (no guarantees though). So still sign up with your name and email, and then you will be on the list to get notified once it becomes available again!

Ultimate Bundles also offers a phenomenal resource on learning about all things personal finance! Check out their Master Your Money Super Bundle right here!

Struggle Meals

If you haven’t watched Frankie work his magic in the kitchen, then you are missing out! He doesn’t do meal prep, per se, but his expertise is in cooking cheaply, using leftovers, AND he’s damn entertaining too! Check out one of my favorite video’s down below (hint – save this video for after Thanksgiving!)

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Grab some meal planning printables to help meal plan on a budget

Oh, organizing… did you ever know that you’re my hero? Everything that I would like to be? For you are the wind beneath my wings.  Or something like that. Yup, organizing makes my heart happy!

That’s why I am such a huge fan of my Organized Home printables, and I created one specifically for meal planning! This packet has…

  • weekly menu planner 
  • food inventory tracker (so you never lose steaks under the frozen spinach again!)
  • family favorite meals list (that are easy go to’s when short on time & energy)
  • grocery shopping list, broken up by department (no circling back to aisle 7 five different times!)
meal planning printables

This meal planner & grocery list is an instant download so you can print it in just 2 minutes from now! (save it to your hard drive so you can print as many copies as you want!)

Freezer meals are essential to meal planning on a budget

One of the very best things that you can do is plan on failing! 

What?

Yup, I freely admit that somedays I am a Hot Mess Mom! I am frazzled, I am running 54 errands, going to the eye doctor and end up getting my eyes dilated for what seems like forever, and on and on the tragedy of life turns into a comedy! And I am DONE!

That means I need to plan on things not going great, so on those days, I need something up my sleeve because I know that going to the drive-thru isn’t all that cheap, nor is it healthy!  

There are two options for us Hot Mess Moms…

One – Frozen Meals – pizza, burritos, corndogs & tater tots (yum), etc. Now, these aren’t the healthiest, but they are cheap. Besides, who doesn’t like tater tots! So I am fine with doing this a few nights here and there.  

Two – Freezer Meals! These are my secret weapon for when times are tough. For example, before I gave birth, I did a whole day of nothing but freezer meal prep, as I knew once the baby came, I would need all the help I could get!  

A great resource that I have found is My Freeze Easy! It’s a freezer meal planning & prep plan, where you get access to new monthly freezer recipes! There are some great customizations too; gluten-free, dairy-free, paleo, instant pot, etc.!

My Freeze Easy

Now not only are these designed to save time, but they stem from the $5 Meal Plan program, so all the recipes are budget-friendly!  

If you’re not quite sure about diving into freezer meals, Erin (the founder) has a great free workshop to introduce you to freezer cooking, so you can feel it out and see if it’s something you might like. Again don’t worry, it’s not a 90-minute life or death training. She’s a mom; she knows you’re busy! It’s three videos for a total of approx 20 minutes. easy peasy, right! (Pssst… you get three free recipes & shopping list, nice!)

Some of you may be a bit wary of freezing meals, especially produce. I mean, does freezing take away all the good vitamins & nutrients? Answer: Not at all! According to Healthline, “Frozen fruit and vegetables are generally picked at peak ripeness (while fresh is picked before it’s ripe). They are often washed, blanched, frozen, and packaged within a few hours of being harvested. Frozen produce is nutritionally, similar to fresh produce. When nutrient decreases are reported in frozen produce, they’re generally small.”  

They mentioned that most of the nutrient loss happens with extended periods of storage in the freezer, like two years or more. So generally speaking, frozen fruits & vegetables are a great way to get your vitamins!

The Healthy Meal Planning Bundle does have a freezer meal cookbook, but it’s not as customizable as My Freeze Easy plan! BUT, I know that the thought of buying 58 items, like the bundle, can cause your brain to shut down from overwhelm. So here’s one great resource. Easy Peasy!

Look to Pinterest for inspiration

So this is a love/hate relationship. Everything looks great, yet it can be overwhelming. Simply put in the search bar “Meal planning on a budget”, or “easy dinners”, “crockpot dinners,” or “frugal foods”. So many options will come up.  

I have a secret board just for “dinners to try”, and then maybe once a month I’ll go in and pick a few to try during the next month, and I work those into my meal plan. I may find a new favorite, or it may be a dud.

Oh, and don’t forget while you’re on Pinterest checking out meals, head on over here, and follow me for lots of budget-friendly inspiration!

Know your grocery budget (and stick to it)

If you want to do meal planning to save money, you need to know your grocery budget! Better yet, if you’re stocking up on things at a low price, then you need to know how much of your grocery budget is for regular food, and how much is for stocking up. You can’t blow everything on your stockpile, and you can’t spend every last dime on your weekly veg.

A good place to start is 75/25 split. So 75% of your grocery budget is for everyday shopping, while 25% of your grocery budget is for stocking up. Initially, you may find you’re spending a bit more on your stockpile, but it will taper down as you go on and build up your pantry.

Some things that I stockpile when the prices are good…

  • Cereal (I only buy if it’s $1 a box)
  • Granola bars
  • Frozen foods
  • Meat (buy in bulk and divide into 1 lb portions then freeze)
  • Canned goods
  • Paper goods (paper towels, TP)
  • Health & beauty – soap, shampoo, deodorant, etc

In talking about budgeting did your stomach do a little flip? I know you’ve been meaning to get back to budgeting, so here’s a great resource! It’s my Ultimate Guide on How to Budget Series, and it goes through everything you ever wanted to know about it!

Tip for Meal Planning on a Budget – Leftovers are your friend!

Don’t forget to plan on having a leftover day for dinners! Make it one day at the end of the week to clean out your fridge before the next week’s shopping trip.  

Make it easy!

Have Leftover Day be as easy as possible for your family by getting some great clear glass meal storage containers! That way, you can easily see what’s in there to eat, and by buying glass containers, you can reheat these directly in the microwave without worry. It’s known that microwaving food in plastic containers isn’t the best choice.  

Harvard Health states that “When food is wrapped in plastic or placed in a plastic container and microwaved, BPA and phthalates may leak into the food. BPA and phthalates are believed to be “endocrine disrupters.” These are substances that mimic human hormones, and not for the good.”

Now, I’m not a scientist, nor am I a fearmonger. But if I don’t need to take a risk, and can easily avoid it, I will. So I bought glass containers for my family. 

I love these Pyrex containers. They are a perfect size (3 cup) and stack great in the fridge! So after dinner is over, if there are leftovers, I immediately portion the items out into meals in the containers. So all my husband has to do is grab one, take off the lid and heat it up and BAM, full dinner/lunch!

Pyrex 3-Cup Rectangle Food Storage

  • pack of 4 or 6
  • Glass is pre-heated oven, microwave, fridge and freezer safe, & dishwasher safe
  • Non-porous glass won’t absorb stains or odors

Make leftovers new & different!  

If your family doesn’t love the idea of leftovers, then you can easily shake things up! All you need to do is change how it’s served. For example, get some tortillas to make items into a wrap, or add on soup & salad to make small amounts of leftovers stretch into a full meal.

Here are some other ideas to give your leftovers a makeover with a different presentation

  • make it a wrap
  • turn it into soup
  • add a grain and have a buddha bowl
  • make a frittata or an omelet
  • use leftovers as fillings for a quesadilla
  • or as a topping on pizza

Just Google “what to do with leftover ________”, and you should get some fun ideas! Or just go to Big Oven’s Use Up Leftovers feature! You add in your three main ingredients, and it gives you a bunch of tasty options!

At the end of the day

Our Mom List never seems to get shorter, does it? You cross four things off, and then two hours later, you add seven more things! ARG! Yet, there are some things (like meal planning) that can reduce your mental and physical load over time. Meal planning may take a few rounds for you to work out the kinks, but overall you will save so much time and money!

Imagine what you would do with 40% more of that grocery budget? (as you won’t be throwing away rotted out lettuce, or wait, was the broccoli? Yesh, it’s hard to tell now that it’s a squishy stinky blob.  

Meal planning on a budget can give you that 40% back! Remember, RTS estimated that it was $1,600 on average, a year per family! What would you do with an extra $1,600 a year? Use it to fund a family vacation? Revamp your back patio living space? Use it to help offset the cost of braces for your youngest? There are so many things!

saving money free templates

Tell me in the comments, If you started meal planning on a budget, what would you do with the $1,600 that’s back in your pocket?

Source: moneyforthemamas.com