Keeping in shape is not only good for your ego; it is also good for your health and longevity. Many people join a gym to stay fit, but not everyone can afford to do so - especially when some of them can be a bit pricey. In addition to working out regularly, eating healthy is essential to staying in shape. There are several ways to get in and subsequently stay in shape without breaking the bank.
1. Buy healthy foods.
Staying away from the junk food will help to save you money in the long run. The best way to stick to a healthy diet when shopping is to shop the perimeter of the supermarket. Around the perimeter is where you will find the produce, dairy and meats; all of the stuff on the food pyramid. You will have to delve into the aisles for dairy and cereals, but keep them on the healthy side by buying whole grain.
2. Instead of joining the local gym, invest in buying equipment for your house.
You do not have to purchase the equipment brand new. Check your local newspaper or Craigslist where you will find people trying to get rid of stuff that they no longer use or want. Oftentimes you can find gym equipment at a deeply discounted price.
3. If you do not have room in your house for equipment, then take up an activity that does not require any equipment.
Walking, for example, is an excellent exercise that will work out most of your body. If you’re able to, running is a great way to boost up your cardio activity. Walking or jogging a few times a week is a great way to shape up your body and keep it fit. Enlist a buddy to help keep you on track toward achieving your goal.
4. Buy fitness DVDs if you have trouble establishing a workout.
There are several different types of workout programs available wherever you can buy movies. For best results, buy a variety of workout programs so you can change it up and keep your workouts fresh.
Working out and staying fit does not have to be a budget breaker. If you cannot afford to go to the gym, bring the gym home to you. If you do not have space in your home for gym equipment, there are several ways to work out without using specialized equipment. Enlisting the aid of a friend or family member will go a long way in assisting you in your goal – to get and stay fit.
Showing posts with label Saving Money. Show all posts
Showing posts with label Saving Money. Show all posts
Tuesday, August 31, 2010
Monday, August 30, 2010
Smarter Driving Saves Fuel
Whether you are planning on a cross-country road trip or just driving a few miles for groceries, the rising cost of fuel, the dependency on foreign oil and the damage fuel production and usage causes to our environment is something to think about. There is no way to completely reduce these problems, at least while still owning and using a fuel-burning vehicle, but there are many ways to minimize them.
* Top running condition - If your car is maintained at its optimum condition, including frequent oil changes, tune-ups and any necessary repairs, it will burn less fuel. Make sure the fuel cap is always tightly sealed and external trim is properly secured. The cost of these items could even be balanced out by the savings in fuel cost if you drive a great deal.
* Good tires - Monitor the condition of your tires and replace them when they are starting to show wear. Even if they don’t show any problems, they should be replaced on a regular basis, depending upon the specifications of the tire. Make sure to maintain proper tire pressure as well; underinflated tires cause a huge waste of fuel.
* Proper speed - Maintaining the speed limit is not only good for your safety, it’s good for your fuel efficiency as well. The optimum driving speed is around 55 mph, and every mile above 60 mph costs you.
* Slow your stops and starts - Gunning the engine to hit 60 like a race car wastes fuel, and waiting until you are upon a stop sign to stop pressing on the fuel is not only dangerous but a waste as well. Always accelerate at a slow, even pace and anticipate stops by letting your car coast a while before you need to start braking.
* Air conditioning - Whether or not to use the AC in your car should be dictated by the speed you are driving. When driving in town and making frequent stops, running the AC gets expensive due to the higher idling of your engine, so opt for windows down if possible. On the highway, however, having the windows down will create a wind-drag on your vehicle and have the opposite effect. It is best to keep all windows shut tightly and the AC running as low as is comfortable when driving at higher speeds.
* Lighten up - Reduce the amount of weight in your trunk and on top of your car to reduce drag. Non-essential items in the trunk, such as sandbags, an old flat tire, canned goods or tools cause your engine to work harder and use more fuel. If you aren’t specifically transporting the heavy items somewhere, then take them out. The same goes for items on top of your car. Remove luggage racks if possible, and do not use them to carry items unless there is no room elsewhere for them. Modern vehicles are designed to let the air flow smoothly over the car, but having items on top interrupts that flow creating a drag on the engine.
These are just a handful of the top things you can do to reduce your fuel mileage. You can test out a variety of options for your car by keeping track of your habits and fuel mileage or by installing a mileage meter. Learn more about ways to reduce your fuel consumption through educational websites such as EcoDrivingUSA.com and DriveSmarterChallenge.org.
* Top running condition - If your car is maintained at its optimum condition, including frequent oil changes, tune-ups and any necessary repairs, it will burn less fuel. Make sure the fuel cap is always tightly sealed and external trim is properly secured. The cost of these items could even be balanced out by the savings in fuel cost if you drive a great deal.
* Good tires - Monitor the condition of your tires and replace them when they are starting to show wear. Even if they don’t show any problems, they should be replaced on a regular basis, depending upon the specifications of the tire. Make sure to maintain proper tire pressure as well; underinflated tires cause a huge waste of fuel.
* Proper speed - Maintaining the speed limit is not only good for your safety, it’s good for your fuel efficiency as well. The optimum driving speed is around 55 mph, and every mile above 60 mph costs you.
* Slow your stops and starts - Gunning the engine to hit 60 like a race car wastes fuel, and waiting until you are upon a stop sign to stop pressing on the fuel is not only dangerous but a waste as well. Always accelerate at a slow, even pace and anticipate stops by letting your car coast a while before you need to start braking.
* Air conditioning - Whether or not to use the AC in your car should be dictated by the speed you are driving. When driving in town and making frequent stops, running the AC gets expensive due to the higher idling of your engine, so opt for windows down if possible. On the highway, however, having the windows down will create a wind-drag on your vehicle and have the opposite effect. It is best to keep all windows shut tightly and the AC running as low as is comfortable when driving at higher speeds.
* Lighten up - Reduce the amount of weight in your trunk and on top of your car to reduce drag. Non-essential items in the trunk, such as sandbags, an old flat tire, canned goods or tools cause your engine to work harder and use more fuel. If you aren’t specifically transporting the heavy items somewhere, then take them out. The same goes for items on top of your car. Remove luggage racks if possible, and do not use them to carry items unless there is no room elsewhere for them. Modern vehicles are designed to let the air flow smoothly over the car, but having items on top interrupts that flow creating a drag on the engine.
These are just a handful of the top things you can do to reduce your fuel mileage. You can test out a variety of options for your car by keeping track of your habits and fuel mileage or by installing a mileage meter. Learn more about ways to reduce your fuel consumption through educational websites such as EcoDrivingUSA.com and DriveSmarterChallenge.org.
Saturday, August 28, 2010
Easy Ways to Get into the Money Saving Habit
Deciding to practice self-discipline and be frugal in your spending is one thing. Actually doing so is often quite another. Our old habits are hard to break. However, if you apply strategies to your spending, you will find it easier to practice self-discipline and frugality. Here are some easy strategies to get you started.
* Change your attitude about money. How you think about money determines the role it plays in your life. Stop thinking that you have to have the same things as everyone else. Instead, focus on what you really need instead of what you just want.
* Recognize and be grateful for all the positives in your life. Changing your perspective can help you see the abundance you already enjoy, regardless of how much money you have to spend.
* Take positive action. It can be tempting to make excuses about why you can never save any money, or why you can't spend less than you already do. Instead of wasting energy complaining about it, focus on positive steps you can take. Can you do something to bring in some extra income? Do you have any unneeded items you can sell on eBay or Craigslist? This can give you a sense of control over your finances and a more positive outlook.
* Learn to make and fix things yourself. Packaged foods and restaurant meals are convenient. However, they are an unnecessary expense. You can learn how to make them yourself. You can also save money by making your own home-made cleaning supplies, specialty coffees, and many other things you buy. As well, learn to fix things around the house instead of replacing them when they break.
* Comparison shop. If you've always shopped at one particular store for your favorite products, it may be time to do a little comparison shopping. Shop around for better deals. You may even want to check online and see if you can order your items for a better price. It might be time to try a less expensive brand as well.
* Track your spending. Knowing exactly where your money is going will help you keep on top of your spending. Even small expenditures can add up over time. Track every purchase you make, no matter how small. You might be surprised to find how much money is really slipping through your fingers. Having to record each purchase will also help you maintain self-discipline in your spending.
* Explore other options. Just because you've always done something one way, it doesn't mean you can't change your patterns. Do you need to drive to work, or could you save money by carpooling instead? Do you need the full cable package for your TV, or is this a good time to turn off the television and get the family outdoors? Looking at all your options will help you decide which are the best for you and will help you save money.
If you've decided to practice self-discipline and frugality in your spending, you will have many challenges to overcome. However, by applying some of the above strategies to your spending habits, you will find it much easier to follow through.
* Change your attitude about money. How you think about money determines the role it plays in your life. Stop thinking that you have to have the same things as everyone else. Instead, focus on what you really need instead of what you just want.
* Recognize and be grateful for all the positives in your life. Changing your perspective can help you see the abundance you already enjoy, regardless of how much money you have to spend.
* Take positive action. It can be tempting to make excuses about why you can never save any money, or why you can't spend less than you already do. Instead of wasting energy complaining about it, focus on positive steps you can take. Can you do something to bring in some extra income? Do you have any unneeded items you can sell on eBay or Craigslist? This can give you a sense of control over your finances and a more positive outlook.
* Learn to make and fix things yourself. Packaged foods and restaurant meals are convenient. However, they are an unnecessary expense. You can learn how to make them yourself. You can also save money by making your own home-made cleaning supplies, specialty coffees, and many other things you buy. As well, learn to fix things around the house instead of replacing them when they break.
* Comparison shop. If you've always shopped at one particular store for your favorite products, it may be time to do a little comparison shopping. Shop around for better deals. You may even want to check online and see if you can order your items for a better price. It might be time to try a less expensive brand as well.
* Track your spending. Knowing exactly where your money is going will help you keep on top of your spending. Even small expenditures can add up over time. Track every purchase you make, no matter how small. You might be surprised to find how much money is really slipping through your fingers. Having to record each purchase will also help you maintain self-discipline in your spending.
* Explore other options. Just because you've always done something one way, it doesn't mean you can't change your patterns. Do you need to drive to work, or could you save money by carpooling instead? Do you need the full cable package for your TV, or is this a good time to turn off the television and get the family outdoors? Looking at all your options will help you decide which are the best for you and will help you save money.
If you've decided to practice self-discipline and frugality in your spending, you will have many challenges to overcome. However, by applying some of the above strategies to your spending habits, you will find it much easier to follow through.
Friday, August 27, 2010
Healthy Back-to-School Lunchbox Ideas
It’s that time of year again, and the age-old question of what to feed your children for lunch while they at school is upon you once again. With all of the talk about the poor quality of school lunches, you may decide to start sending a lunch with your children. But if they are like most kids, their first choices may not be the healthiest or the least expensive.
To recharge them after a long morning and get them through the day, avoid sugary foods and provide at least one source of protein. Remember to pack a dairy product, use whole grains, and give them at least two veggie or fruit items.
Here are some simple ideas for keeping them healthy and strong while keeping your budget under control.
* Sandwiches - Peanut butter, deli slices, cheese, or even leftover meat loaf or roast beef all make great sandwich fixings. Pair them with whole grain bread, pitas or tortillas. Add the complimentary condiments in separate containers to keep the bread from getting soggy, and include a plastic knife for preparation.
* Jello - Most children adore a Jello snack in their lunch box, but purchasing these pre-made can get pricey. Instead, buy boxes of Jello powder and mix it up over the weekend to dole out each day. Use fruit juice in place of water or add canned fruit to the mix to take care of one of your daily servings of fruit. Invest in some small plastic containers that are about the size of the pre-made Jello cups to make it easier.
* Fresh fruit - Toss an apple, orange or banana into the lunch box each day. If it isn’t eaten at lunch, chances are it will get eaten after school. Fresh fruit is better than canned fruit and if sent whole it doesn’t require a special container of its own.
* Fresh vegetables - Baby carrots, celery slices, broccoli pieces, cherry tomatoes and even salad are easy to carry in a lunch box and can stand alone or go well paired with dip or dressing in a separate container.
* Soup - Mix up a batch of home-made soup or stew over the weekend or open a can of soup and heat it up to boiling before school. Pour it into a thermos and it should still be safely hot by lunchtime. Pair it with items that do not need to be cold to ensure everything in the lunch box remains at a safe temperature.
* Chips - You can avoid regular potato chips and still have a cheap, healthy addition to your child’s meal. While pricier, whole grain and baked chips will provide a nutritional advantage over the white flour and fried varieties. Purchase large bags of chips and dole them out in baggies or washable plastic containers each day to keep costs down.
* Milk or yogurt - Many schools will allow your child to purchase a container of milk, or you can send along a thermos of ice-cold milk. Send a container of yogurt; if frozen overnight it should be nicely thawed by lunch time and will help keep other items cold during the morning.
With many of these options, refrigeration or heating is required but probably not allowed. Investing in a good quality thermal lunch box, a freezer pack and a thermos to keep items hot or cold is well worth it. Use washable containers for each item instead of disposable baggies to keep your long-term expense down.
Making wise choices for your children’s lunches this school year will keep both them and your bank account healthy and strong.
To recharge them after a long morning and get them through the day, avoid sugary foods and provide at least one source of protein. Remember to pack a dairy product, use whole grains, and give them at least two veggie or fruit items.
Here are some simple ideas for keeping them healthy and strong while keeping your budget under control.
* Sandwiches - Peanut butter, deli slices, cheese, or even leftover meat loaf or roast beef all make great sandwich fixings. Pair them with whole grain bread, pitas or tortillas. Add the complimentary condiments in separate containers to keep the bread from getting soggy, and include a plastic knife for preparation.
* Jello - Most children adore a Jello snack in their lunch box, but purchasing these pre-made can get pricey. Instead, buy boxes of Jello powder and mix it up over the weekend to dole out each day. Use fruit juice in place of water or add canned fruit to the mix to take care of one of your daily servings of fruit. Invest in some small plastic containers that are about the size of the pre-made Jello cups to make it easier.
* Fresh fruit - Toss an apple, orange or banana into the lunch box each day. If it isn’t eaten at lunch, chances are it will get eaten after school. Fresh fruit is better than canned fruit and if sent whole it doesn’t require a special container of its own.
* Fresh vegetables - Baby carrots, celery slices, broccoli pieces, cherry tomatoes and even salad are easy to carry in a lunch box and can stand alone or go well paired with dip or dressing in a separate container.
* Soup - Mix up a batch of home-made soup or stew over the weekend or open a can of soup and heat it up to boiling before school. Pour it into a thermos and it should still be safely hot by lunchtime. Pair it with items that do not need to be cold to ensure everything in the lunch box remains at a safe temperature.
* Chips - You can avoid regular potato chips and still have a cheap, healthy addition to your child’s meal. While pricier, whole grain and baked chips will provide a nutritional advantage over the white flour and fried varieties. Purchase large bags of chips and dole them out in baggies or washable plastic containers each day to keep costs down.
* Milk or yogurt - Many schools will allow your child to purchase a container of milk, or you can send along a thermos of ice-cold milk. Send a container of yogurt; if frozen overnight it should be nicely thawed by lunch time and will help keep other items cold during the morning.
With many of these options, refrigeration or heating is required but probably not allowed. Investing in a good quality thermal lunch box, a freezer pack and a thermos to keep items hot or cold is well worth it. Use washable containers for each item instead of disposable baggies to keep your long-term expense down.
Making wise choices for your children’s lunches this school year will keep both them and your bank account healthy and strong.
Thursday, August 26, 2010
Easy Ways to Save Money on Back-to-School Clothes
One of the best things about heading back to school is the shopping spree a few weeks before. Unfortunately, with many families struggling to make ends meet, this may be a pleasure for more prosperous times. What can you do to make sure your child is well dressed while not busting your budget this fall? Here are a few tips.
* Sort through last year’s items - Pull out all of your child’s clothes and go through them. Items that still fit and are free from stains and tears can be repurposed for this year. Basic items are almost always in fashion and go well with newer updated items.
* Use hand-me-downs - If you have an older child of the same sex, pass their clothing along to the younger sibling instead of tossing them out. Just like last-seasons items, keep only those pieces that are timeless, fit well, and are free from stains and tears. Make sure that the younger child doesn’t feel like they only get their siblings cast-offs, though. Take him or her for a special shopping trip to get a couple of extra-special pieces.
* Bargain shop - From outlet stores to seasonal sales, there are always bargains to be had. Watch your local ads and sign up online for newsletters from your favorite stores so you will know when the sales are. You might even get some coupons out of it!
* Plan ahead - Begin planning for your child’s school year clothing the winter before and it will be much less expensive to send them off with a full new wardrobe. Styles really don’t change too much from one season to the next, so if you purchase from end-of-season sales you could get three or four outfits for the price of one.
* Buy used clothing - While your child might act like they are dying of embarrassment if they knew it, you can usually find some great pieces at second-hand stores and clothing trades. You might have to weed through a number of torn, stained or horribly-out-of-fashion items, but you are sure to find things like basic jeans, tank tops, t-shirts, turtlenecks, belts and possibly even barely-worn shoes.
* Learn how to sew - Unlike many years ago, it is rarely cost-effective to purchase new fabric and create items from scratch. However, it is useful to have sewing skills for making alterations to good used clothing. It is even possible to convert a larger item into an entirely different garment if the fabric is good. It’s also fun to add whatever embellishment is the latest trend. From patches to sequins, a needle and thread can go a long way.
* Splurge a little - If you can afford it, allow your child a set dollar amount, even as little as $20, to purchase one or two items that they adore and they consider “must-haves” for this year’s little fashionistas. This small splurge can make the entire back-to-school bargain hunting effort go much smoother and helps your child with their fashion self-esteem.
The bargain-conscious parent can be at peace with fashion-conscious kids with some planning and extra effort. It’s as simple as reusing items, buying bargains, and accessorizing with a few of the latest fashions. Your kids may not be ready for a runway, but they will be ready for the first day of school.
* Sort through last year’s items - Pull out all of your child’s clothes and go through them. Items that still fit and are free from stains and tears can be repurposed for this year. Basic items are almost always in fashion and go well with newer updated items.
* Use hand-me-downs - If you have an older child of the same sex, pass their clothing along to the younger sibling instead of tossing them out. Just like last-seasons items, keep only those pieces that are timeless, fit well, and are free from stains and tears. Make sure that the younger child doesn’t feel like they only get their siblings cast-offs, though. Take him or her for a special shopping trip to get a couple of extra-special pieces.
* Bargain shop - From outlet stores to seasonal sales, there are always bargains to be had. Watch your local ads and sign up online for newsletters from your favorite stores so you will know when the sales are. You might even get some coupons out of it!
* Plan ahead - Begin planning for your child’s school year clothing the winter before and it will be much less expensive to send them off with a full new wardrobe. Styles really don’t change too much from one season to the next, so if you purchase from end-of-season sales you could get three or four outfits for the price of one.
* Buy used clothing - While your child might act like they are dying of embarrassment if they knew it, you can usually find some great pieces at second-hand stores and clothing trades. You might have to weed through a number of torn, stained or horribly-out-of-fashion items, but you are sure to find things like basic jeans, tank tops, t-shirts, turtlenecks, belts and possibly even barely-worn shoes.
* Learn how to sew - Unlike many years ago, it is rarely cost-effective to purchase new fabric and create items from scratch. However, it is useful to have sewing skills for making alterations to good used clothing. It is even possible to convert a larger item into an entirely different garment if the fabric is good. It’s also fun to add whatever embellishment is the latest trend. From patches to sequins, a needle and thread can go a long way.
* Splurge a little - If you can afford it, allow your child a set dollar amount, even as little as $20, to purchase one or two items that they adore and they consider “must-haves” for this year’s little fashionistas. This small splurge can make the entire back-to-school bargain hunting effort go much smoother and helps your child with their fashion self-esteem.
The bargain-conscious parent can be at peace with fashion-conscious kids with some planning and extra effort. It’s as simple as reusing items, buying bargains, and accessorizing with a few of the latest fashions. Your kids may not be ready for a runway, but they will be ready for the first day of school.
Monday, August 23, 2010
Give Your Family a Money Makeover
Families need to make money stretch as far as it possibly can. This can mean doing without unnecessary purchases, or budgeting for monthly expenses. If you find yourself struggling each month or living paycheck to paycheck, it may be time to give your family a money makeover. Giving your family a money makeover means finding the best deals for your money to make it stretch further. Here are some tips that will yield an effective money makeover.
* Find better deals on insurance policies. If you feel like you are paying too much for car insurance or health insurance, do some comparison shopping. Oftentimes people do not think that they can save, so they do not look for better deals.
Being comfortable with your current insurance agent is also a factor as to why people do not shop elsewhere. If you find a better deal with another insurance company, check with your current insurance holder and see if they will match the price. In a competitive market such as today’s, people are more likely to match prices to keep the business.
* If you do not already have a savings plan, it is time to start thinking about one. It's a good idea to have a savings account that will sustain the household for three to six months if the unthinkable were to happen. You can build up your savings over time by putting a little of your paycheck away each pay period. Once you have your emergency fund, then you can focus on building upon that savings even more.
* Having a retirement plan is important because it is not feasible to work until death. Social security programs are running out of funds and may not be around when it comes time for you to retire. This is why it is especially important to plan ahead. Look into IRAs or other interest-yielding accounts to build up enough money to retire on. The sooner you start building up your retirement, the better.
You and your family stand to gain a lot by giving yourselves a money makeover. By shopping around for better insurance policies and building up a savings account for retirement and family emergencies, you are helping to ensure that your family is prepared for the future. Implement money-saving methods where possible and watch your nest egg grow.
* Find better deals on insurance policies. If you feel like you are paying too much for car insurance or health insurance, do some comparison shopping. Oftentimes people do not think that they can save, so they do not look for better deals.
Being comfortable with your current insurance agent is also a factor as to why people do not shop elsewhere. If you find a better deal with another insurance company, check with your current insurance holder and see if they will match the price. In a competitive market such as today’s, people are more likely to match prices to keep the business.
* If you do not already have a savings plan, it is time to start thinking about one. It's a good idea to have a savings account that will sustain the household for three to six months if the unthinkable were to happen. You can build up your savings over time by putting a little of your paycheck away each pay period. Once you have your emergency fund, then you can focus on building upon that savings even more.
* Having a retirement plan is important because it is not feasible to work until death. Social security programs are running out of funds and may not be around when it comes time for you to retire. This is why it is especially important to plan ahead. Look into IRAs or other interest-yielding accounts to build up enough money to retire on. The sooner you start building up your retirement, the better.
You and your family stand to gain a lot by giving yourselves a money makeover. By shopping around for better insurance policies and building up a savings account for retirement and family emergencies, you are helping to ensure that your family is prepared for the future. Implement money-saving methods where possible and watch your nest egg grow.
Saturday, August 21, 2010
Cheap Party Ideas
Everyone loves to attend a good party. The costs, however, can be a deterrent to throwing one of your own. Throwing a good party does not have to cost an arm and a leg, however. There are several cost-effective ways to throw a cheap, but great, party. Utilize the following tips to keep your money and your sanity.
* Instead of renting out a hall or a venue for your party, consider having it at the park. Some parks will charge a deposit or a small fee to rent the park area for the day while others require a permit for parties, so be sure to check the local regulations.
* It can be tempting to want to hire a caterer or to order food for the party, but your budget could be better served if you made your own food. You can also hold a pot-luck where all guests are responsible for bringing one food or drink item. This can help to ease the cost on a tight budget. For birthday parties, instead of buying a cake, bake one yourself or have a family member or friend bake the cake for you. This will save money and you can have fun decorating the cake yourself.
* Planning ahead always helps to ease the budget as well. Decorations and such can be purchased beforehand so that all expenses are not paid for at once. Sometimes putting items on layaway can be a big help as well.
* Instead of buying favors at the store, consider making them yourself and involving your family, including children, in the process. Making handmade favors or paper goods can be a great bonding activity. So, in addition to getting a task accomplished, you will be enjoying some family quality time as well.
* Bring your own music. Some events may call for music, but skip the DJ – instead bring a stereo with CDs or even an iPod with songs pre-loaded. DJs can cost several hundreds of dollars but a stereo will keep playing music long after your guests are gone.
Planning a party is a fun endeavor, but not budgeting properly can make the party cost a lot more than planned. Consider having your party in a park atmosphere and providing the food and music yourself. You can enjoy family quality time if you make your own party favors and enlist the family help while doing so. Remember, it’s not the amount of money spent that makes a good party, it’s the company.
* Instead of renting out a hall or a venue for your party, consider having it at the park. Some parks will charge a deposit or a small fee to rent the park area for the day while others require a permit for parties, so be sure to check the local regulations.
* It can be tempting to want to hire a caterer or to order food for the party, but your budget could be better served if you made your own food. You can also hold a pot-luck where all guests are responsible for bringing one food or drink item. This can help to ease the cost on a tight budget. For birthday parties, instead of buying a cake, bake one yourself or have a family member or friend bake the cake for you. This will save money and you can have fun decorating the cake yourself.
* Planning ahead always helps to ease the budget as well. Decorations and such can be purchased beforehand so that all expenses are not paid for at once. Sometimes putting items on layaway can be a big help as well.
* Instead of buying favors at the store, consider making them yourself and involving your family, including children, in the process. Making handmade favors or paper goods can be a great bonding activity. So, in addition to getting a task accomplished, you will be enjoying some family quality time as well.
* Bring your own music. Some events may call for music, but skip the DJ – instead bring a stereo with CDs or even an iPod with songs pre-loaded. DJs can cost several hundreds of dollars but a stereo will keep playing music long after your guests are gone.
Planning a party is a fun endeavor, but not budgeting properly can make the party cost a lot more than planned. Consider having your party in a park atmosphere and providing the food and music yourself. You can enjoy family quality time if you make your own party favors and enlist the family help while doing so. Remember, it’s not the amount of money spent that makes a good party, it’s the company.
Friday, August 20, 2010
Kitchen Tips for the Frugal Family
If you have a family to care for, you already know how much of your budget gets spent on food and cooking. In fact, this may be one of the biggest items in your budget. So, when it's time to cut back on expenses, the kitchen is the first place many moms look to save money. Here are some kitchen tips to help frugal moms keep their budgets under control.
* Don't let food go bad. If you're like most families, when you clean out your fridge and your cupboards, you probably end up throwing a lot of food away. It might be past its expiry date or already transforming into a different life form. This is a waste of food and money and it is easy to avoid.
If you keep your fridge and cupboards organized, you should be able to easily see what you have in stock. That will remind you to use it before it goes bad. As well, review expiry dates regularly. Then you can remember to use the item before it expires.
* Don't buy too much food. Some grocery stores will offer you discounts if you buy in bulk. However, that's only a good deal if you're actually going to use all the food you purchase. It is a common mistake to buy too much because it looks like you're saving a lot of money. In the long run, you may be spending more than you need to on food you won't use.
* Make your own condiments. Condiments like salad dressings, seasonings, and sauces can easily be made at home. That can cut a lot out of your grocery bill. Look for recipes for dressings, salsas, chilli sauces, vinegar, marinades, and so on. They will probably be a lot healthier for you than store-bought ones as well.
* Cook from scratch. There are many convenience items available in the grocery store. However, you can cut down on expenses by cooking from scratch. Instead of relying on high-priced convenience items to save you time, you can manage your time in the kitchen better by planning ahead and cooking more than one meal at a time.
* Eat what is in season. You can save money by choosing fruits and vegetables that are in season. They will be lower priced than other, off season, items. If you're not sure what is in season, you can do some research or ask your grocer.
* Eat what is grown locally. Because locally grown foods don't have to be shipped, they cost less once they reach the store. You can even buy directly from local growers at farmers markets.
* Try cooking vegetarian meals. Meats are often very expensive. One way to save money is by trying to cook more meatless meals. If your family isn’t ready to go vegetarian, you can start by having a meatless night once a week. Even that small step will cut down on your kitchen spending.
The kitchen is full of opportunities to cut back and save money. Following the above tips will help frugal moms keep their kitchen spending under control.
* Don't let food go bad. If you're like most families, when you clean out your fridge and your cupboards, you probably end up throwing a lot of food away. It might be past its expiry date or already transforming into a different life form. This is a waste of food and money and it is easy to avoid.
If you keep your fridge and cupboards organized, you should be able to easily see what you have in stock. That will remind you to use it before it goes bad. As well, review expiry dates regularly. Then you can remember to use the item before it expires.
* Don't buy too much food. Some grocery stores will offer you discounts if you buy in bulk. However, that's only a good deal if you're actually going to use all the food you purchase. It is a common mistake to buy too much because it looks like you're saving a lot of money. In the long run, you may be spending more than you need to on food you won't use.
* Make your own condiments. Condiments like salad dressings, seasonings, and sauces can easily be made at home. That can cut a lot out of your grocery bill. Look for recipes for dressings, salsas, chilli sauces, vinegar, marinades, and so on. They will probably be a lot healthier for you than store-bought ones as well.
* Cook from scratch. There are many convenience items available in the grocery store. However, you can cut down on expenses by cooking from scratch. Instead of relying on high-priced convenience items to save you time, you can manage your time in the kitchen better by planning ahead and cooking more than one meal at a time.
* Eat what is in season. You can save money by choosing fruits and vegetables that are in season. They will be lower priced than other, off season, items. If you're not sure what is in season, you can do some research or ask your grocer.
* Eat what is grown locally. Because locally grown foods don't have to be shipped, they cost less once they reach the store. You can even buy directly from local growers at farmers markets.
* Try cooking vegetarian meals. Meats are often very expensive. One way to save money is by trying to cook more meatless meals. If your family isn’t ready to go vegetarian, you can start by having a meatless night once a week. Even that small step will cut down on your kitchen spending.
The kitchen is full of opportunities to cut back and save money. Following the above tips will help frugal moms keep their kitchen spending under control.
Thursday, August 19, 2010
Car Repairs
For many families, owning a car is not a luxury but an important necessity. However, there are a lot of costs associated with owning a car. There is the cost of fuel and regular maintenance. There is also the cost of car repairs. No matter how well you care for your car, there will be times when it needs to be repaired.
If you don't know a lot about cars, you may feel that you're at the mercy of the repair shop and have to spend whatever they tell you it will cost. However, there are steps you can take to make sure you're saving as much money as possible on your next car repair.
* Call independent repair shops instead of dealerships - Dealerships often recommend you call them first about your car repair, since they are most familiar with your vehicle and have the same brand of parts in stock. However, this is often the most expensive route to go. Instead of calling dealerships, call independent repair shops and see if they can give you a better deal.
* Buy your own replacement parts - There is always a cost for labor and parts. When the car repair shop shops for replacement parts for your vehicle, they are not looking for the best deal for you. They are probably thinking more about their convenience. You can save money by shopping around for your own replacement parts. Then your only other cost will be the labor.
* Try to repair it yourself - Some car repairs are minor and can easily be accomplished on your own. Research online to find out what the problem with your car is. You can also get a repair manual for your car. Use what you learn to find the correct parts to repair it and fix it yourself. Not only will you save money, you will gain new knowledge and confidence about repairing your car.
* Perform regular maintenance - Sometimes, major repair jobs can be avoided all together simply by following the recommended maintenance routine for your vehicle. For example, the cost of having your engine cooling system repaired on time will be much less than the possible repair bill for an overheated engine if you don't.
* Get a second opinion - Some repair shops will recommend that you make other repairs that aren't really necessary at that time, and that you can't afford. To make sure you're getting the real story on what's wrong with your car, take it to another repair shop and see what they say. If the two opinions are vastly different, you know you have some more research to do and that one of them may be trying to take advantage of you.
Car repairs are an unavoidable expense of owning a car. However, with the proper maintenance, some research and creativity, you can keep this expense under control.
If you don't know a lot about cars, you may feel that you're at the mercy of the repair shop and have to spend whatever they tell you it will cost. However, there are steps you can take to make sure you're saving as much money as possible on your next car repair.
* Call independent repair shops instead of dealerships - Dealerships often recommend you call them first about your car repair, since they are most familiar with your vehicle and have the same brand of parts in stock. However, this is often the most expensive route to go. Instead of calling dealerships, call independent repair shops and see if they can give you a better deal.
* Buy your own replacement parts - There is always a cost for labor and parts. When the car repair shop shops for replacement parts for your vehicle, they are not looking for the best deal for you. They are probably thinking more about their convenience. You can save money by shopping around for your own replacement parts. Then your only other cost will be the labor.
* Try to repair it yourself - Some car repairs are minor and can easily be accomplished on your own. Research online to find out what the problem with your car is. You can also get a repair manual for your car. Use what you learn to find the correct parts to repair it and fix it yourself. Not only will you save money, you will gain new knowledge and confidence about repairing your car.
* Perform regular maintenance - Sometimes, major repair jobs can be avoided all together simply by following the recommended maintenance routine for your vehicle. For example, the cost of having your engine cooling system repaired on time will be much less than the possible repair bill for an overheated engine if you don't.
* Get a second opinion - Some repair shops will recommend that you make other repairs that aren't really necessary at that time, and that you can't afford. To make sure you're getting the real story on what's wrong with your car, take it to another repair shop and see what they say. If the two opinions are vastly different, you know you have some more research to do and that one of them may be trying to take advantage of you.
Car repairs are an unavoidable expense of owning a car. However, with the proper maintenance, some research and creativity, you can keep this expense under control.
Wednesday, August 11, 2010
Save Money on Clothes
How do you save money when looking for clothes? It’s not as hard as you think. Here are six ways to conserve cash:
1. Buy only what you need
Before you shop, evaluate what you already have. Many people already have closets full of clothes they aren’t wearing.
If you have five pairs of shirts you are not wearing, don’t go looking for new ones. Wear what you already own! Many people just get into the habit of wearing the same clothes again and again without thinking about other items.
2. Go with a budget
If you’ve done the first step, and determined you genuinely need new clothes, make sure to have a budget when shopping. Do not go over that limit.
This will discourage you from buying unnecessary items just because they are on sale. Often times stores mark down clothes just to encourage impulse buying. This is how you end up walking out with items you never intended to get. Stick with what you came to buy.
You might also want to bring cash. Using a credit card might cause you to spend more than you really have.
3. Do not buy top brands
Everyone wants the big brand names. That’s no secret. However, you can really get great deals on clothes that are not as famous but are still just as high quality.
Let’s face it: the only advantage of the more expensive clothes is the name. The cheaper clothes often look just as good, but cost much less.
4. Do a clothes swap
This is a great way to save money. And almost no one does it! If you have a number of friends or family who tend to wear the same styles and sizes, consider exchanging clothes. This way you all get what you want for free. This is simple but very effective.
5. Shop online
Buying on the internet can really save you money, because the online stores do not have to pay for the upkeep of a physical store. Therefore, they can pass savings on to you. This is an excellent method to save cash.
6. Buy during clearance sales
The best time to buy is at the end of the season, when the stores are getting in their clothes for the next season. They will be in a big hurry to get rid of their old clothes, which means the prices will be marked down severely.
The bottom line is, you can conserve a lot of money when you take a few simple steps. Implement these six tips, and you will be amazed at how low your next shopping bill will be.
1. Buy only what you need
Before you shop, evaluate what you already have. Many people already have closets full of clothes they aren’t wearing.
If you have five pairs of shirts you are not wearing, don’t go looking for new ones. Wear what you already own! Many people just get into the habit of wearing the same clothes again and again without thinking about other items.
2. Go with a budget
If you’ve done the first step, and determined you genuinely need new clothes, make sure to have a budget when shopping. Do not go over that limit.
This will discourage you from buying unnecessary items just because they are on sale. Often times stores mark down clothes just to encourage impulse buying. This is how you end up walking out with items you never intended to get. Stick with what you came to buy.
You might also want to bring cash. Using a credit card might cause you to spend more than you really have.
3. Do not buy top brands
Everyone wants the big brand names. That’s no secret. However, you can really get great deals on clothes that are not as famous but are still just as high quality.
Let’s face it: the only advantage of the more expensive clothes is the name. The cheaper clothes often look just as good, but cost much less.
4. Do a clothes swap
This is a great way to save money. And almost no one does it! If you have a number of friends or family who tend to wear the same styles and sizes, consider exchanging clothes. This way you all get what you want for free. This is simple but very effective.
5. Shop online
Buying on the internet can really save you money, because the online stores do not have to pay for the upkeep of a physical store. Therefore, they can pass savings on to you. This is an excellent method to save cash.
6. Buy during clearance sales
The best time to buy is at the end of the season, when the stores are getting in their clothes for the next season. They will be in a big hurry to get rid of their old clothes, which means the prices will be marked down severely.
The bottom line is, you can conserve a lot of money when you take a few simple steps. Implement these six tips, and you will be amazed at how low your next shopping bill will be.
Monday, August 9, 2010
Save Money on Baby Care
How do you save money on baby care? The average yearly expense for a baby is around twelve thousand dollars, so saving money is very important. Here are four of the best ways to do so:
1. Make your own wipes
This popular strategy can save you a huge amount of money. Instead of getting store bought wipes, making your own will save you a lot of money. They are healthier as well, because there is no harmful alcohol or chemicals.
Make your own wipes from old pieces of soft cloth cut into pieces. Add a few drops of essential oil to a small bowl of water: lavender, tea tree, or eucalyptus oils are all excellent anti-bacterial agents.
Soak enough wipes for a couple of changing sessions. Wring them out lightly and store in an air tight container. It's up to you whether you dispose of your wipes or wash them and reuse them.
2. Breastfeed
Not only is artificial baby milk ("formula") extremely expensive, it also puts your baby's health at risk and is a nutritionally poor and inadequate way of feeding a baby that should only be used in emergencies.
3. Feed your older baby the same food you eat
"Baby Led Solids" is concept that babies do not need their food to be pureed and they can safely explore most of the foods that the rest of the family eat as long as it's healthy and non-allergic. Babies should not start solids before six months as enzymes can pass into the bloodstream up until this age. Fully breastfed babies older than six months should be offered foods to explore for a social learning purpose as all their nutritional requirements are filled by breastmilk at this age.
4. Use pet gates
They are much cheaper than baby gates, and just as effective.
5. Get used clothes
Avoid buying new things when at all possible. If you have any friends who’ve had babies, you may be able to use clothes their babies have grown out of.
Also, try shopping online for used clothes. As long as you clean them out well before using them, they are perfectly fine. Just make sure to look on the Consumer Product Safety Commission website, and be certain you are not getting clothes that were involved in a recall.
The bottom line is, you do not have to break the bank when raising a baby. Just implement these ips, and you will save a lot of money.
1. Make your own wipes
This popular strategy can save you a huge amount of money. Instead of getting store bought wipes, making your own will save you a lot of money. They are healthier as well, because there is no harmful alcohol or chemicals.
Make your own wipes from old pieces of soft cloth cut into pieces. Add a few drops of essential oil to a small bowl of water: lavender, tea tree, or eucalyptus oils are all excellent anti-bacterial agents.
Soak enough wipes for a couple of changing sessions. Wring them out lightly and store in an air tight container. It's up to you whether you dispose of your wipes or wash them and reuse them.
2. Breastfeed
Not only is artificial baby milk ("formula") extremely expensive, it also puts your baby's health at risk and is a nutritionally poor and inadequate way of feeding a baby that should only be used in emergencies.
3. Feed your older baby the same food you eat
"Baby Led Solids" is concept that babies do not need their food to be pureed and they can safely explore most of the foods that the rest of the family eat as long as it's healthy and non-allergic. Babies should not start solids before six months as enzymes can pass into the bloodstream up until this age. Fully breastfed babies older than six months should be offered foods to explore for a social learning purpose as all their nutritional requirements are filled by breastmilk at this age.
4. Use pet gates
They are much cheaper than baby gates, and just as effective.
5. Get used clothes
Avoid buying new things when at all possible. If you have any friends who’ve had babies, you may be able to use clothes their babies have grown out of.
Also, try shopping online for used clothes. As long as you clean them out well before using them, they are perfectly fine. Just make sure to look on the Consumer Product Safety Commission website, and be certain you are not getting clothes that were involved in a recall.
The bottom line is, you do not have to break the bank when raising a baby. Just implement these ips, and you will save a lot of money.
Thursday, August 5, 2010
Frugal Outdoor Cooking
How do you save money on outdoor cooking? Here are nine of the best strategies:
1. Have everyone bring their own meat
If you are having a party, this is the best strategy for conserving cash. This prevents you from having to shoulder all the expenses yourself. Also, it allows everyone to bring their favorite meat, and saves you the headache of trying to find something each person likes.
2. Buy beef and sausage
These tend to be the least expensive kinds of meats. If you like them, they can save you a lot.
3. Get meat on sale
If you are flexible about what to eat, then just buying whatever is the lowest price can be an excellent strategy. Also, be on the lookout for coupons in the paper. This is the best way to find top deals.
4. Do not get pre-cut meat
Obviously this is more convenient, but is likewise a lot pricier. Cutting your own can save you a lot of money. It also gives you more flexibility, because you can cut it the way you want it.
5. Stay away from “boneless meat”
Meat with the bones in it is cheaper then boneless, and tends to stay juicier when cooking. Of course, this won’t work for the traditional hamburgers and hot dogs. However, for a lot of meat it will save you money. In some instances it’s twice as expensive to get boneless meat.
6. Use corn and other vegetables on a kabob
These are among the cheapest items to barbeque.
7. Get on sale charcoal
If you have a charcoal grill, consider getting on sale charcoal. Since it lasts a long time, you might as well wait until you find it on sale, and then purchase it. You can even buy it twelve months or longer in advance.
8. Use your own plates
If you are having a party, this again can save you money. Purchasing paper plates is quite expensive.
And if you do purchase paper plates, then do not get the ones with the fancy designs. Getting Fourth of July napkins might be cool, but it’s a lot more expensive.
9. Get barbeque equipment in winter
It is cheaper when less people are buying it. Also, like just about every other product today, look online for further savings. Since online stores don’t have to pay for the upkeep of a physical store, this can save you some good money.
The bottom line is, you can save a lot of money when you are careful. Outdoor cooking doesn’t have to break the bank. Implement these nine tips, and your next cookout will be much easier on the wallet.
1. Have everyone bring their own meat
If you are having a party, this is the best strategy for conserving cash. This prevents you from having to shoulder all the expenses yourself. Also, it allows everyone to bring their favorite meat, and saves you the headache of trying to find something each person likes.
2. Buy beef and sausage
These tend to be the least expensive kinds of meats. If you like them, they can save you a lot.
3. Get meat on sale
If you are flexible about what to eat, then just buying whatever is the lowest price can be an excellent strategy. Also, be on the lookout for coupons in the paper. This is the best way to find top deals.
4. Do not get pre-cut meat
Obviously this is more convenient, but is likewise a lot pricier. Cutting your own can save you a lot of money. It also gives you more flexibility, because you can cut it the way you want it.
5. Stay away from “boneless meat”
Meat with the bones in it is cheaper then boneless, and tends to stay juicier when cooking. Of course, this won’t work for the traditional hamburgers and hot dogs. However, for a lot of meat it will save you money. In some instances it’s twice as expensive to get boneless meat.
6. Use corn and other vegetables on a kabob
These are among the cheapest items to barbeque.
7. Get on sale charcoal
If you have a charcoal grill, consider getting on sale charcoal. Since it lasts a long time, you might as well wait until you find it on sale, and then purchase it. You can even buy it twelve months or longer in advance.
8. Use your own plates
If you are having a party, this again can save you money. Purchasing paper plates is quite expensive.
And if you do purchase paper plates, then do not get the ones with the fancy designs. Getting Fourth of July napkins might be cool, but it’s a lot more expensive.
9. Get barbeque equipment in winter
It is cheaper when less people are buying it. Also, like just about every other product today, look online for further savings. Since online stores don’t have to pay for the upkeep of a physical store, this can save you some good money.
The bottom line is, you can save a lot of money when you are careful. Outdoor cooking doesn’t have to break the bank. Implement these nine tips, and your next cookout will be much easier on the wallet.
Friday, June 18, 2010
Fun and Frugal Family Outings
The time we spend with our families is priceless. But most popular family activities are quite expensive. Even a simple night at the movies can put a serious dent in the budget by the time you buy tickets, popcorn and drinks for everyone.Fortunately, there are cheaper alternatives to expensive family outings. They provide the opportunity to have just as much fun at a fraction of the cost. Some are even free.
Movies and MusicKids are often itching to see the newest releases at the movie theater. Doing so even once a month, however, can get pricey. One alternative in some areas is the drive-in. Admission is usually much cheaper than it is at a regular theater, and some let you bring your own drinks and snacks. Drive-ins usually show fairly new releases, so the kids can say they saw something that's not out on DVD yet.
Some theaters offer reduced-price matinees during the day. Some even have free kid-oriented movies on weekend days. These options offer the theater experience without the outrageous cost.
Kids often want to go to concerts, but tickets to see the most famous bands are far from cheap. Check your local paper for free concerts in the park. Many areas have them during the warm months. Young children can enjoy the music without the huge crowds and deafening sound systems, and older children might gain an appreciation for less well-known bands.The Great Outdoors
Nature offers a wealth of possibilities for family outings. Camping is a wonderful activity for families, and it doesn't have to be expensive. It can be as simple as pitching a tent in the back yard, or you can spring for a camper and rent space at a campground. Bring the grill and some hamburgers or hot dogs, or catch some fish to fry.
Parks are great for day trips. Those with playground equipment can keep youngsters entertained for hours on end. Hiking trails offer opportunities for exercise and exploration. Most parks have picnic facilities, so you can pack a lunch instead of eating out.
Other IdeasHere are some more inexpensive family activities to consider:
* Play miniature golf. Admission is usually quite reasonable, and it provides the opportunity for relaxed yet engaging family competition.
* Visit a petting zoo. These small zoos do not have the exotic animals you see at larger ones, but kids can feed and pet the animals.
* Go to a museum. Some offer cheap or free admission, while others cost more. But the larger and more expensive ones often sell season passes, so if you live close by, you can visit numerous times for one low price.
* Go boating. If you're fortunate enough to live near a body of water, boating is fun and relaxing. Canoe and paddleboat rentals are inexpensive, and when you're done boating there are usually other cheap or free activities in the area.* Attend events at a nearby college. These may include plays, concerts, dance recitals and movie showings. Prices are low, and student discounts usually apply to kids, too.
Having fun as a family doesn't require a six-figure income. If you look hard enough, you can find lots of free or cheap activities that parents and kids can enjoy just about anywhere.
Saturday, May 29, 2010
Every Little Bit of Saving Adds Up
Living on a budget is the key to financial freedom, but getting started can be frustrating. When we look at our expenses and see all of those bills we're paying every month, it's easy to throw our hands up in disgust. But what about all those little expenses we incur? You might be surprised to find out just how much they amount to.
It's easy to dismiss cutting back on little things. A few dollars a month won't make a significant difference in the big picture. But a few dollars here and a few dollars there adds up to a few more dollars. When you cut back in a lot of small ways, you could end up with a lot more money at the end of the month.Waste Not, Want Not
One thing we can do that is good for the budget is stop wasting so much. This can apply to many areas in our lives. From eating to home heating, waste equals money going down the drain unnecessarily.
Cooking for the family instead of eating takeout or dining out is a great way to save money. But if you're throwing food out, the benefit is reduced. So if you have leftovers, don't let them end up in the trash. Some dishes freeze well, and this makes for easy dinners when you don't have time to cook. You could also eat dinner leftovers for lunch the following day.
If your home is not well insulated, you're probably wasting lots of money on home heating and cooling. Insulating will cost some money up front, but it will pay for itself quickly. If you have drafts around windows and doors, weatherstripping can help maintain the temperature of your home.Most households waste an unbelievable amount of electricity. This can be prevented in part by using energy efficient appliances and light bulbs. Turn lights, televisions, computers and other devices off when you're not using them, and open blinds to take advantage of the sun's light during the day.
Do Yourself a Favor: Do It Yourself
Any time you pay someone else to do something that you could do yourself, you're spending money unnecessarily. This applies to little things like buying coffee instead of making your own, as well as to larger expenses such as home repairs.
Many of us buy coffee or a soft drink from a convenience store or coffee shop on the way to work in the morning. This can really add up over time. Instead, make your own coffee, or buy soda in 2-liter bottles and pour some into a smaller bottle or cup to take with you. The same applies to lunches. Instead of springing for fast food, take a sandwich or something microwavable to work.While we're not all good at all types of repairs and maintenance, most of us can do some things for ourselves. Maybe you could change your own oil instead of paying someone else to do it. If the walls need painting, consider getting friends and family to help you do it instead of hiring a painter. Things like these can save us a noticeable amount of money right away.
When you add up the savings, little things can make a big difference to the budget. So take a close look at your budget and see what small expenses are lurking there. If you can eliminate or reduce them, it could positively impact your bottom line.
Thursday, May 20, 2010
How to Create a Family Budget
For singles, creating a budget is relatively easy. They tend to have a good handle on how much money they have coming in, and when tracking expenses, they only have their own to think about. But creating a family budget is a whole new ball game.
Most families have multiple sources of income. And when there are multiple spenders, that makes things much more confusing. This is one of the main reasons that families lack a formal budget. But having a budget and sticking to it can greatly improve a family's financial outlook.
Making a family budget may be tricky, but it can be done. Here's how.
1. Take inventory of all income.
If a certain source of income fluctuates from month to month, use the lowest amount or average it out.
2. Keep track of all expenses for a month or so.
Keep all of your receipts, and ask all family members to turn theirs in to you each day.
3. Add up your monthly expenses.
Be sure to include bills, debt payments, groceries, and everyday expenses such as lunch money and transportation costs.
4. Trim the budget.
Get the family together and discuss ways you can trim the budget. Getting input from other family members will help you determine which expenses are necessary and which ones could be cut down or eliminated. Maybe you or your spouse could start taking lunch to work instead of eating out, or maybe the kids can drop an extracurricular activity.
5. Cut down expenses.
In addition to individual expenses, discuss how you can cut down on the electric bill, groceries and other necessary family expenses. Consider such things as carpooling or taking public transportation, buying more generic foods and adjusting the thermostat.
6. Cut unnecessary items.
Estimate how much you can save on regular expenses, and cut the completely unnecessary items out of the budget. Then refigure it and see where you stand.
7. Save.
If you end up with a surplus, allocate a portion of it to savings. If you're in the red, go back and rework the budget until you have more income than expenses.
8. Be Realistic.
One reason that family budgets often fail is because they're just not realistic. It's great to cut down on expenses, but sometimes we tend to go too far. For example, cutting entertainment out of the budget completely might look good on paper, but we all need a little diversion every now and then.
Instead of cutting such things out of the budget completely, consider finding ways to lower the cost. Going back to the entertainment example, maybe you've been going to dinner and a movie as a family twice a month. But eating in and renting a new release would be much cheaper, and you would still get to spend quality time together.
Individual expenses can also be tricky. This can be resolved by allocating a certain amount for each family member to spend each week. If someone spends his entire amount before the week is up, reevaluate his expenses and adjust if necessary.
Creating a family budget can help keep spending under control, leaving more money to pay off debts and save for future goals. But in order to succeed, close monitoring is essential. Your efforts will be rewarded, however, with less financial stress and more money in the long run.
Most families have multiple sources of income. And when there are multiple spenders, that makes things much more confusing. This is one of the main reasons that families lack a formal budget. But having a budget and sticking to it can greatly improve a family's financial outlook.
Making a family budget may be tricky, but it can be done. Here's how.1. Take inventory of all income.
If a certain source of income fluctuates from month to month, use the lowest amount or average it out.
2. Keep track of all expenses for a month or so.
Keep all of your receipts, and ask all family members to turn theirs in to you each day.
3. Add up your monthly expenses.
Be sure to include bills, debt payments, groceries, and everyday expenses such as lunch money and transportation costs.
4. Trim the budget.
Get the family together and discuss ways you can trim the budget. Getting input from other family members will help you determine which expenses are necessary and which ones could be cut down or eliminated. Maybe you or your spouse could start taking lunch to work instead of eating out, or maybe the kids can drop an extracurricular activity.
5. Cut down expenses.
In addition to individual expenses, discuss how you can cut down on the electric bill, groceries and other necessary family expenses. Consider such things as carpooling or taking public transportation, buying more generic foods and adjusting the thermostat.
6. Cut unnecessary items.
Estimate how much you can save on regular expenses, and cut the completely unnecessary items out of the budget. Then refigure it and see where you stand.
7. Save.
If you end up with a surplus, allocate a portion of it to savings. If you're in the red, go back and rework the budget until you have more income than expenses.
8. Be Realistic.One reason that family budgets often fail is because they're just not realistic. It's great to cut down on expenses, but sometimes we tend to go too far. For example, cutting entertainment out of the budget completely might look good on paper, but we all need a little diversion every now and then.
Instead of cutting such things out of the budget completely, consider finding ways to lower the cost. Going back to the entertainment example, maybe you've been going to dinner and a movie as a family twice a month. But eating in and renting a new release would be much cheaper, and you would still get to spend quality time together.
Individual expenses can also be tricky. This can be resolved by allocating a certain amount for each family member to spend each week. If someone spends his entire amount before the week is up, reevaluate his expenses and adjust if necessary.
Creating a family budget can help keep spending under control, leaving more money to pay off debts and save for future goals. But in order to succeed, close monitoring is essential. Your efforts will be rewarded, however, with less financial stress and more money in the long run.
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