Money can cause a major source of stress in our lives. With rents getting higher and higher each year, buying groceries, paying utilities, does it surprise us that we get stressed out? Living on a tight budget isn’t easy, but it can certainly have some perks to it.
1. Know Where Money Goes.
One of the biggest things that we see is that many people have no idea where their money goes. They will be out and about and stop by the local coffee shop. Then we go about our week and maybe stop in for a few more coffees.
Many people will buy small priced items and then realize they have spent most of the money on little trinkets. Having the cash on hand would be better than having a bunch of small toys that we cannot do anything with.
If we want to know where all of our money is going, it is best to start writing down any spending. Keep spending records for a couple of months and then review. After going through the lists, we are usually surprised at just how much money is wasted.
2. Tips for Saving Money on the Budget.
There are so many ways to be able to save money. The great thing is we are always finding new ways to save a few pennies.
Make your coffee at home.
Even if you do not own a coffee maker, it is time to go out and invest in one. Saving on buying those $4.00 cups of coffee at the national coffee chains. Coffeemakers come in so many sizes and styles that one is available to go with just about any décor. When the larger cans of coffee go on sale be sure to buy a couple of extras. By stocking up when something is on sale, we are savings money on each can purchased.
Make your lunch instead of ordering out.
Of course, this advice could also be used for breakfast and dinner. Going out to eat most of the week can put a real drain on any budget. Even if we do not like to cook, there are enough food choices for every taste.
Purchase store brands.
There are those consumers who will only use the name brand products, but we do not have to fall into that category. Store brands can save a shopper quite a bit of money.
Purchase products in bulk when available.
Often, the more of a product that is purchased will cost less. Be sure to check the prices and scoop up the deals when possible. Meats can be frozen along with vegetables.
Bake our own pastries.
The price of sweets and pastries can help to send the budget spinning. For those who enjoy baking, this is your time to shine. For a fraction of the cost, boxed ingredients can be just as tasty.
Get rid of the paper towels and use washable cloths.
We spend a lot more money than we think by purchasing paper products that we really do not need to.
Use manufacturers coupons when you are shopping.
Plan your meals according to what is on sale each week and stick to your plan. Use coupons to save whenever possible. A small note on using coupons, be sure you are only buying what you need at the time. Do not use a coupon for a product that you would not normally buy. Always check the store brand to be sure we are getting the best bargains.
3. Budgeting Around the Home.
Make sure your home is fully insulated.
Oil and gas to heat a house can become very expensive. We want to be able to keep those heating bills down and do not need the surprise of a large bill we were not expecting.
Keep heat at a comfortable range and not hot.
If the family is comfortable with the heat set at a lower temperature, there is no need to turn it up. Sleeping is easier when the heat is turned down at night.
Energy efficient appliances make for great savings.
Of course, we cannot just run out and replace all of our appliances in one shot. Knowing that we must invest in a dryer soon allows us to be able to research and make an informed decision.
Switch over to LED or CFL light bulbs.
The new bulbs save four times as much electricity than the older bulbs.
Turn the water heater temperature down.
By turning the temperature back, we save on both electricity and gas or oil.
When it comes to any insurance make sure to shop around.
We can save thousands of dollars a year by shopping wisely.
4. Entertainment Budgeting.
Set a budget for eating out and stick to it.
This can be hard at first, but it does get easier when you see how much we can save.
Cable is expensive!
This is something that we hear about all of the time. Do you have a package with 500 channels that you never watch? It may be a chance to take a good look at what we are paying just to be able to watch television.
Do not buy things that are not needed.
Sometimes we can shop and make impulse purchases. Think twice before making any purchase and ask if the purchase is really needed.
Leave the credit cards at home.
By leaving the credit card at home, we are less able to make those purchases on a whim.
Living on a tight budget does take the time to master, but it can be done. What are some ways that you save money?