How to save money with the dreaded “b” word.
Instead, a sound budget can free up money to allow you to pursue those things you want above the things that you need.
Let’s take a look at seven home budgeting tips:
1. Pay with cash — Using a credit card will get you in debt, but using a debit card can lull you into thinking you have more money available to you than you do. Pay with cash always.
2. Set aside money for special occasions and events — One way to ensure that you’re not constantly going into debt is to set up and fund separate accounts for those important events in your life. For example, you can set up accounts for vacation and for Christmas, putting in the money you need in advance instead of relying on credit cards to pay for your expenses later.
3. Carefully consolidate debt — Debt consolidation can help you overcome debt, but it must be tackled carefully. If you are moving money between credit cards, avoid balance transfer fees and don’t take on additional debt when making your move. Consider NOT putting your house at risk by consolidating debt with a home equity loan.
4. Track your spending — Make a point to update your checkbook immediately and to review your expenses. Cut out the fluff and review your utilities, combining your phone, television and Internet provider to one account, saving you money.
5. Negotiate with your dentist — Dental insurance usually falls woefully short in helping families keep their teeth maintained. Instead, negotiate pricing with your dentist before you get any work done. He may simply offer you a discount, matching what your insurance provider would pay. In that case you may be able to cancel your dental insurance. Keep your health insurance, however.
6. Stick with allowances — Determine a weekly allowance amount your offspring should receive and stick with that figure. Beyond essential chores, consider paying for special projects. Teach your children the value of money. Let them learn at a young age that money their money is gone it is gone.
7. Eat out, but only on special occasions — If your family eats out frequently, this could be the number source of your present budget woes. Instead of eating out frequently, cut back to eating out on special occasions. Make preparing and eating meals at home fun, allowing everyone to chip in with ideas. Create theme night menus to spark interest in younger family members. For example, Mexican night can mean that tacos will be served — have your children make maracas to add a festive touch.
Now that you’ve begun to put the family’s budget in order, things were so bad — right? You’ll still need to monitor everything and make some adjustments along the way. Lastly, set aside an emergency fund to cover those expenses that weren’t expected and have the potential to bust your budget.
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- BUDGET INCOME AND EXPENSES WITH EASE
- TRACK EVERY ACCOUNT
- USE ADVANTAGES OF THE INTEGRATED APPROACH
- Unpaid Bill Notifications
- Optional "Easy Mode" that does not use Bank Accounts
- No Decimal Points makes managing things simple and clean
- Simple and intuitive user interface
- Overview of your current spending progress
- Log Expense and Income quickly and easily
Last update on 2020-03-19 / Affiliate links / Images from Amazon Product Advertising API
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