When you’re saving money there are several steps you can take to help cut your expenses. Many people have found big box stores that sell bulk items or the clever use of coupons can help them save a bundle in the long run. Continue reading
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When looking for ways to save money, many consumers immediately start wondering which bills can be eliminated. While these are important considerations, if you’re looking to save money, simplifying your budget can offer an even better look at how to save money.
Likewise, we are often taught to save money by creating highly detailed budgets. However, instead of detailed budgets that track down every expense in your life, a simplified budget could provide an even better solution. Here’s how.
Simplifying Your Budget – The Concept
For starters, it’s important to understand the concept behind simplifying your budget. Essentially, simplifying your budget boils down to consolidating all similar expenses. So instead of an individual entry for each credit card bill, how about combining them all into a single ‘credit cards’ category.
You can do the same for utilities – just list them together instead of separating each of them. This gives you a better idea of where all your money is going. Four or five credit card payments for twenty bucks a month may look small, but combining them will show you they’re more than you think and give you a better idea of what to cut.
Next Step to Simplifying Your Budget
Now that you’ve taken the time to simplify your budget let’s look at where you’re spending the most money. You can identify these areas by using the “grouping” technique that we mentioned above. After identifying them you can ‘zoom in’ for a more detailed line item by line item examination.
Time to Make a Decision
Now the only thing left to do is to decide what you want you want to do with the items eating up your savings. Can you cancel a credit card or two? What’s the biggest bill in your utilities category, and is it possible for you to reduce it or even eliminate it?
Starting with the simpler view lets you see where you’re really losing money so you can more closely review only the items that need your attention.
Choosing to simplify your budget is only the beginning. Saving money isn’t always easy, but having an idea where your money goes certainly helps. Also, be prepared because it might take an hour or two to really crunch all the numbers, but just remember that it’s time well spent.
You can also use one of the free online budget websites to help you plan out all of your options and figure out what’s working.
Do you prefer a more detailed budget or a simplified budget? Let us know by commenting below.
Craft projects offer a tremendous opportunity to put your creativity to work. And while craft projects generally tend to be really affordable, once you start doing enough of them you’ll notice that costs can mount quickly.
Fortunately, there are several things that you can incorporate into your crafting regimen that can help you reduce costs. We’re going to be sharing some of them in this post.
Cutting entertainment costs doesn’t have to translate into sitting around with nothing to do.
As a matter of fact, many people find that the creativity that goes into finding ways to lower your entertainment expenses without sacrificing your fun is entertainment in and of itself.
Continue reading as we share fifteen tips, with you, on how you can cut costs without sacrificing fun in the process.
When you decide you are going to make an effort to start saving money, one of the best things to do is take advantage of free deals. You can find free deals almost anywhere, for anything you can imagine.
All it takes to begin reaping the savings is you becoming a vigilant deal shopper. Continue reading as we show you five ways to spot free deals. Continue reading
Guest post Written by Amy Fowler
Have you ever noticed how when you go to the supermarket for a gallon of milk you always come back with a shopping cart full of food? Do you always spend more than you intended when you go clothes shopping?
If so, you could be falling victim to the spending tricks that so many grocery stores love using, to persuade you to part with more of your money than you intended. Most of those spending tricks are easy to combat once you know that they’re being used on you.
So the next time you head out to your local retailer, keep an eye out for the following secret tactics.
Guest Post Written by Sam Phillips
Saving money is becoming more and more important as many people are looking at ways to invest for the future. One option is to use a tax-free ISA. With the start of a new financial year, it’s important to make full use of the ISA allowance 2012.
However, in times of economic hardship, putting away savings can be difficult as the cost of living is constantly increasing. People are looking for ways to save money, whether it’s utility and household bills or everyday items such as groceries and clothing. Continue reading