Why is it Necessary to Budget? Download your FREE Spreadsheet.

Having a budget or living with a budget does not have to be as scary as it sounds. Neither does it mean taking the cheaper option, having to make do with lower quality things. It only means knowing how much money you have available to spend and this can only be a good thing.

A budget can be for a day if you are out for the day and have a certain amount of cash to spend. It can be for a week, or however long you want to make it.

The best thing about a long term budget is that you are not only in control of how much money you have now, but you are able to forecast how much money you will have in a year’s time, or five year’s time or longer, assuming that things stay the same.

The magic of this is that it allows you to see exactly what goes where. You can see where the little wormholes which suck up the cash for no reason and you can see work out your minimum monthly amount. That is what is the absolute minimum income you need to have to keep everything ticking along.

Then with the rest of the income, you are free to spend it however you like. You can pay off debts, you can save up to buy that special thing you have always wanted or go on that holiday of a lifetime.

Having a budget can actually free you to do more with your income.

And it is much better than living in the dark, not knowing how much money comes in, how much goes out.

I have put together an excel spreadsheet which can let someone manage their monthly budget over a year.
It is available as a FREE DOWNLOAD for anyone who wants to use it.

It can be downloaded from this page.

If you find it useful then please feel free to click one of the adverts on the right of this page.

There is a Microsoft Word document which explains how to use it.

To use it you will need to have Microsoft Excel.

 

Budget Food: Scrambled Egg on Toast

Carrying on my budget food theme, a quick and easy breakfast to make is scrambled egg on toast.

For one person:

1 egg             13p            My eggs are free range because I refuse to support caged hens. So they are 13p an egg.
Splash of milk if you like.    5p
Seasoning.          1p
1 slice of toast      5p
Knob of butter for the toast and to cook the egg.         10p

Toast the toast.
Whisk up the egg in a bowl and add seasoning and a splash of milk. This makes it much lighter. Leave out the milk if you are a purist. Cook in a frying pan and turn out on to the buttered toast.

Total cost of the breakfast: 34p

 

Budget Food: Tortilla – Spanish Omelette

Ingredients:
1       medium onion          6.5p
1       medium potatoes     10p
3       eggs                        39p
1       knob of butter           20p
seasoning to taste

Preparation:
Finely chop a medium onion and gently fry it in a frying pan. We want it to soften and not go brown.
Peel two small or one medium potato and slice it as thinly as possible. Add this to the onion in the pan and cook both of them gently until soft. Depending on the potato, this should take between 10-20 minutes. If the potato is not cooking, then add a splash of water and simmer with a cover until done.

In a bowl, break three eggs and beat together. Add seasoning to taste.

When the onions and potatoes are done, and slightly cool, transfer them to the egg and mix.

Wipe the pan and add some butter or oil. Add the whole egg, onion and potato mixture and cook gently for around 20 minutes. Turn the mixture over and cook on both sides until the egg is completely cooked.

Total cost 75.5p

 

Budget Food: Chewy Cookies

The first budget food recipe I have researched is those big fat chewy cookies which you can buy in supermarkets and from stalls. These can cost up to £1 each in some places, so I was wondering how much it costs to make them. The prices are from Aldi and are correct on the 10th of February 2012.

This is the recipe:
250g    self raising flour                     9p
125g    butter                                 59.5p
200g    sugar                                  47.5p
1         egg                                     13p

plus anything else you like such as chocolate chips, raisins, dried fruit, etc.

Preparation:
Preheat the oven to Gas mark 3/170 degrees C. Grease a baking sheet lightly.
Melt the butter and add the sugar. Stir until it is well mixed and begins to be a little lighter in colour. Wait until it is cool then add the egg and mix again until it is creamy and light. It does not look like cake mixture, just a little lighter. Then mix in all the flour until it is a smooth consistency.

Drop largeish amounts of the mixture onto the baking sheet with a tablespoon taking care to keep them around 5-6cm apart because they will spread out in the oven.

Bake for 15 minutes. The chewy, soft consistency comes from underbaking them slightly. They will be large, flat slightly sticky cookies when they come out, but when cool, they are fine.

Using this recipe, I made 17 medium sized cookies for £1.29.

That is 7.6p per cookie.
(Include energy costs if you can work them out for the length of time that the oven is switched on).

 

Budget Food

These times are very hard for a lot of people. Someone who is living on benefits must survive on around £60 a week. So, in this series on budget food, I have decided to see how to live on less.

All my prices are based on shopping at Aldi, which is the cheapest supermarket in this area. Once in a while I will also do a comparison with other supermarket prices.

The objective is to make more things at home, rather than buying things which have been ready made, like pre cooked meals, and just to see whether it is possible to have a happy variety of foods and how much they cost us to eat.

I don’t plan to preach about healthy eating or what you should or should not be giving to children. There are a lot of other websites like that around. We all live in the real world and do the best we can. We all eat chocolate and cake and unhealthy snacks from time to time because we enjoy them. This is meant to be purely an exercise in the cost of the food.