5 Budget Tips To Help You Survive The Month

Budgeting isn’t easy especially if you have a house to run and mouths to feed. It is a skill that we all have to learn so here are some tips to help you survive this month without borrowing money:

Budget Planning – I know the feeling of receiving a salary and thinking to yourself how on earth will you stretch it to reach the next payday. I get nervous just thinking about it. But I have learned that planning eases my worries and actually helps in stretching that budget. Planning really works no matter the situation.

1. List the expenses you expect to be paying for the next month such as electricity bills, telephone bills, and all other important expenses you will have to make. Set aside money to pay for these important ones. When you do this, you will see how much or how little money you have left. This should also dictate how much you will be spending on other stuff that you don’t really need.

2. Prioritize – Know your priorities. When you have done step 1, you will know how much money you will have left for groceries which should be at the top of your priority. When I say grocery, I mean essential foods and items for you and your family.

How many times do you do your grocery in a month? Divide the money that’s left for each grocery shopping. Buy only what you need. You don’t really need that expensive shampoo, you can do away with a more affordable one. Same goes for clothes, you don’t have to have a new blouse every month.

3. Cut corners – One very good example where you can cut corners is the electricity bills. Make sure you turn off the light if you’re not using it. If you live in a hot city or state and you always use the air-conditioner, try to cut down on it.

Turning it off an hour before you usually do can significantly lessen your electricity bills. When you turn on the AC or heater, make sure that the doors and windows are closed so as not to waste it.

Cable television is another service you can cut down out. No, don’t let it go completely but you can let the premium features go. Just stick to the basic channels, it’s much cheaper.

4. Discount and coupons and bulk buying – these three things are more way to save. Watch out for discounts on your essentials and take advantage of it. Buying in bulk is also always cheaper. Don’t make it an excuse to buy something that you don’t really need though.

Couponing is also key in saving money. These three buying tips don’t seem too significant at first because you will only get to save a few dollars at a time but if you tally it to the number of times you have used it in a year, you just might be surprised.

5. Save – If you still have money left after all the bills, groceries and other essential expenses, the thing that comes to mind is to reward yourself with some nice shoes right? Wrong. The best thing for you to do is to save that money. You will need it in the future, trust me.