I know many of you have downloaded and have been using my Savings Tracker tool. I decided to continue to illustrate how to use it, along with how I'm shaping up budget-wise for the month. Here's my results.
If you notice the "At-a-Glance" section, you'll see I've set a monthly budget of $300. Of this amount, I've spent only $67.43 after you account for the $2 rebate I have coming. If you prefer to see how you're doing BEFORE rebates, notice the figure on the top right-hand column called "Amount Paid (exc. Rebates)." So far, I've saved $172.16 this month, and $73.67 of that has been coupons. This includes any manufacturer or store coupons I've redeemed, including Catalinas and Register Rewards.
I had a reader request to see one of my receipts for further illustration. This is the Rite Aid transaction noted in my second line entry. (Which is a good thing actually, because I realized I had made a couple errors!)
I'm going to do my best to break this down for you. To arrive at the shelf cost, I simply tallied the ENTIRE cost of this transaction before sales, coupons, rebates, etc. I included tax. Basically, I'm trying to determine the cost of this transaction had I paid full retail. Adding up the regular prices plus tax, I get a total of $31.18.
Next, coupons. I had two "buy one, get one free" Stayfree coupons and two $1/1 GE coupons. Since the Stayfree would've been $3.99 each, my total coupon savings was $9.98 (this is also noted at the bottom of the receipt).
Next, discounts. Rite Aid was running a buy one, get one free sale on the Stayfree, so that saved me $7.98. They also noted on the receipt that the regular price for the wipes was $3.29 and the lightbulbs was $5.29. I tally the difference between that and what I paid. My total store discounts? $15.35.
Finally, I have a $2 rebate coming on the GE.
So I entered in the $23.81, $9.98, $15.35, and $2 figures where appropriate. The "amount paid" is a formula and generated a figure of $3.85. I know this is correct since I paid $5.85 and the difference is the rebate. My savings rate was 87% for this particular transaction.
I understand not all stores give you a "discount" total. For instance, if you bought the $1 bags of salad at Fred Meyer this week, you're not going to see anywhere on the receipt that you saved $x.xx from the regular price. One thing I do in this instance is just estimate what the normal cost would've been. Or you could just leave it alone. Your choice.
Incidentally, I enjoy seeing what dollar amount of my savings is coming from coupons. There are folks out there that still maintain you can't save much from coupons. Check it out – so far this month, I've actually saved more money on coupons than I've spent on groceries!
This is why I LOVE tracking my spending and savings. You can be encouraged with the progress you are making and the results you are achieving. You can also use your results as benchmarks to reach for new goals.
If you're just joining me, it's not too late to get started! Go here to download your FREE Savings Tracker - the same one I'm using above. And go here for tips to see how I'm currently keeping organized in 2010. Given the tremendous response on this tool, I'm going to be periodically showing you how I'm doing with it. Please let me know if there are other questions I can address.
{ 13 comments… read them below or add one }
Did you not have a $5/20 or $25 to use? Your OOP could have been .85.
I have enjoyed using your savings tracker! Thanks for sharing it with us.
Nope…not true. While it is true that the shelf cost was over $30…this is what I would’ve paid had NOTHING been on sale. Remember that the sales saved me about $15 (the Stayfree BOGO sale, the discounts on GE and the wipes). So my total after sales but before coupons was $15. A no-go on the printable.
BTW, I *could’ve* brought this total to $20, used a $5-off-$20 and essentially gotten that $5 in product for free. In this particular instance, I was more concerned with getting what I needed to stock up on than finding the “perfect deal.” But this is an instance where you see that one can always improve, right?!
Thanks Christan.
I love your savings tracker!I keep recommending it! When I shop at Fred Meyer I write down the shelf price on my grocery list, so when I get home I can add up that total and plug it in. I love how Albies and Safeway do it for you, but Fred Meyer is my default store because of their everyday low prices.
Thanks for the detailed explanation!
Thanks for the updates. All the numbers can get confusing fast and it helps to see you walking through it. I started using your spreadsheet last week and it is way better than my own. Especially with the tricky rebates.
Kim, thank you so much!
BTW, readers – Kim runs an awesome blog called Puget Sound Prudence. She’s on my blogroll – check it out – especially if you like to shop at Fred Meyer. I recently found her and am lovin’ her site!
I get it! Since I couldn’t see the rest of your receipt I was running off your numbers. Those BOGOs do throw a change into the end. I rarely do any transaction at RA that doesn’t let me use that coupon. Thanks for explaining it! I only recently started couponing at RA. I now prefer them over Wags. Way less confusing for me.
Christan, ITA on the Rite Aid vs. WAGS!
I really like your savings tracker! This month has been a big big shopping month for me because I’m trying to stockpile ahead of my impending baby, on the assumption that I’m not going to have much time to shop for the next little while. =) Being able to see how much I’ve saved has been really rewarding, and it’s inspired me to look at items and stores where I save little or nothing and figure out how to improve!
I wish you could mentor me!! I started couponing last May, and I’m saving what I think is a lot of money, but you’re still spending way less than me. There’s no reason I should be paying more than you because it’s just me, my hubby, and our 2-yr. old son. I have a coupon organizer, a file folder with all the inserts in it, I use coupon matchups, etc. and I just can’t seem to pull it all together to maximize my savings! Do you have any tips?
Lori, I should probably mention that at least once per month I do a big trip where I do spend closer to $100 and just stock us up for the month on a bunch of need-based things. I also use this trip to buy a bunch of food for freezer meals. I ended up making a fair amount of freezer meals in December (and spending more) so we’ve been eating some of that so my trips in January so far have mostly been for stockpiling stuff (i.e. cheap & free items). Come back and see this at the end of the month. Maybe you’ll feel a bit differently.
Thanks, Angela! I have been using your savings tracker since the beginning of the month and I am saving money, (especially from what I was spending a year ago – yikes!) but I just want to maximize my savings. I’ll definitely keep coming back!
Thank you so much for your savings tracker tool! I am such a nerd that I get excited to plug in my numbers when I get home from the store! I have been telling all my friends about this amazing spreadsheet and have been linking them to your site. I appreciate all of your hard work!