One of the biggest bugbears at the end of the month is payday. Payday brings around all those due and overdue bills and if you live your life month to month, you could find yourself in a situation where you have far too much month at the end of your money. Everyone would prefer to be in the position where they have too much money at the end of the month instead, but sometimes that’s not possible.
Learning how to put yourself on a budget is difficult, especially if you are already living with one. While unemployment rates are so high it’s easy to take for granted the fact you have a job, even if it isn’t the highest paid one in the world. Perhaps you’re trying to save for a deposit on a house and have made your budget as small as possible to live on while you do so. Maybe you are aiming to have an emergency fund readily available for those ‘just in case’ situations. Understanding how to shrink an already tiny budget is not easy, but with these tips you can hopefully make life a little easier for yourself.
- Cancel your gym membership. With the abundance of videos available for free on YouTube such as these Fitness Blender ones, you can make your home your gym. Take advantage of your ability to run and get some fresh air in the great outdoors. Gym membership savings could equal over $60 a month and above, which can go a long way in your savings account.
- Compare utilities. Gas, electric and water bills tend to build up and if you are paying out more than you need to, it’s time to stop! Use websites like www.directenergyrates.net to compare your energy bills to make sure you’re getting the best deal you can for your home.
- Swap your TV service. If you invest in a service that gives you 100+ channels you don’t even watch, it’s time to make a change. How about looking at Netflix or Amazon Prime? Save yourself anything from $30-70 a month by cancelling your TV service to watching online.
- Plan your meals. By making monthly menus for family meals and snacks, bulk buying and batch cooking what you need for freezing, you can save a lot of money. Put a little money into a chest freezer for the garage and make family meals for an entire month. Freezing them means you only need to top up on fresh goods each week like milk, bread and produce. This will significantly cut your food bills every month.
- Prepare. If you buy lunch or coffee while at work, make a $15 a day saving and bring what you can from home. Make a lunch to take with you and use a flask for coffee if your workplace doesn’t have that facility available.
There are many ways you can budget for that dream home, but being willing to make those initial sacrifices is important. Cut down where you can and reap the reward later.