With 2011 right around the corner we have come up with a new fun frugal challenge for ourselves, this one is going to be a challenge for me more so then my husband because I love to shop for clothes, shoes, ect. while I am always buying clothes on sale and getting them at a discount this year we are setting a yearly budget for clothing our family of 5. Keep in mind that I do have a stockpile of clothing for my children already read about it in the post here, as I buy ahead when I am shopping. My youngest daughter has a majority of her clothing already being that hers is passed down from my oldest daughter and friends along the way that have generously giving us clothing. Our budget goal for clothing for all of us is $1000 cash, that is giving me $200 roughly for each person for clothing that we will need through out the year and about $83 a month total. Gift cards that I earn or are given as gifts from people will not be counted as cash, they will be counted the sameway as with the grocery budget and it will be known that I paid for those items with a gift card.
If I do a mystery shop for clothing I will include my out of pocket cost and what type of item I bought, however due to the ways of mystery shopping I will not disclose where or what the actual retail price is before any reimbursement. For example I do a mystery shop at X store and I buy a shirt that costs $22 but I get a reimbursement of $20 I will list it as
shirt from mystery shop-$2
Included in our clothing budget is:
accessories (hair bows)
If I buy something that is for the next size up for the kids that is included in the budget for the year as well. I will track my spent/saved amount the same way I do our grocery/personal care budget.
Another change to our goals is I am uping our grocery/personal care budget up to $1500 for the year. With the addition of our youngest daughter and her now being almost 1 year old and eating “normal” food instead of just baby food a larger budget is necessary. Being at $1500 a year means we will be averaging $125 a month on groceries and personal care products for the 5 of us.
What goals are you setting for you and your family for 2011?
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