Reducing Expenses

This small statement over at Digerati Life really struck me, he said, “If you’re truly interested in building wealth, it’s not enough that you make money, it’s also about keeping that money and minimizing your costs, expenses and losses as much as you can. “

It’s something I’ve known inside for like, forever, but it really struck me this time. My business didn’t become profitable until we had minimized our costs and expenses. This seems natural to me in a business sense, but I don’t think I have really caught on to that in my personal finances and running my household. Seems like a no brainer, but then, I’m a little slow at times I guess.

So the question is how to reduce my costs and expenses at home. I'm sure I will spend a lot of time going over this around here.

I think the first one I'd like to tackle is the grocery budget. According to an article I read at The New York Times, they reported that grocery prices have risen 5.1% in the last 12 months.

According to the Labor Department milk has gone up 17%, dried beans, peas and lentils 17%, cheese 15%, rice and pasta 13%, bread 12%, but eggs went up a whopping 25% since February 2007 but up 62% for the past two years.

Holy cow! This must be the reason I can't keep my grocery bill to what it used to be!

I used to coupon a little. Maybe I will start couponing again. Stay tuned! I'm working on rounding up all my little sources for coupons, tips and bargains into one place so that I have a little manual so to speak.