Times are tight and many people are buckling down. You are in a need to budget, but you’re not quite sure where to start. Here are some nifty ideas that will have you on the way to saving money in no time at all:
- Envelope Budgeting – Each month, create an envelope for each individual bill. Write the amount of your monthly bill on the front and divide this into either two equal installments (if you get paid bi-weekly) or four weekly installments (if you get paid weekly). Each pay period, put the specified amount in each bill envelope and the leftover money can be used to do a tiny splurge – maybe that hot latte you’ve been craving for the last week! Or even a nice massage at your favourite spa?
- Cut out all Corners – This might seem harsh, but do you really need to eat at that local bistro every day for lunch? Even if it is the most delicious meal, you would be amazed at how much you save if you bring your lunch and coffee, even if only for a week. Keep a journal of every penny you spend (that candy bar you just picked up counts too!) and prepare to be amazed at just how much you spend on items you don’t need. Do you really need to play roulette at that online casino? We know we told you to try online casinos before, but be sure to choose the right ones, and set yourself a budget so you don’t loose track of your spending. If you are only walking out a looser, it is time to quit!
- Cut down on Expenses – Okay, maybe this one perplexes you, but if you turn off the lights each time you leave a room, rather than leave them running for hours on end, you will see a drastic decrease in your utility bills. Want a bigger bang for your buck? Unplug appliances you aren’t using and eliminate the vampire electricity expense.
- Have a spare-change-jar – Throw all spare change in a jar once you get home and get rid of the balast of those heavy coins! You’ll have saved quite a nice amount at the end of the month.