Finding Ways to Save More Money on Limited Funds

To save money, we sometimes create budgets. Any funds outside of those said budgets are saved. They become handy for emergency situations or are just simply savings for the winter. More often than not though, they become as means to cover the extra expenses if the set budget alone can't handle it. This defeats the purpose of setting a budget. That being said, to save money, you have to look at the funds both inside and outside the budget.

Of course, the first thing you're going to do is set a budget. What bills do you have to pay each month and when are they due? How frequently do you go to the grocery store in a month? How long does a full tank of gas last? Are there any upcoming special occasions in the month that may require some splurging for celebrations? These are just a few questions you need to answer. You'll need to consider everything. From there, you can draw up a weekly budget.

Once you've separated your savings from your budget, you can start saving from the allotted budget. For instance, if you have set aside a budget for a full tank of gas for two weeks, only spend for half a tank. You can then start planning shorter routes such as going for groceries on the way home from work as opposed to going home and then going to the grocery. You can even start not using your car unless necessary. Try to ride a bike to work or leave home early and start walking if the office isn't too far. The savings you get for the half tank of gas can be saved for filling the car up two weeks from now.

You can also try to save any allowances you have for the day. For instance, packing lunch can help you save lunch money at work. While one may argue that the money gets spent in groceries anyway, it is far less expensive than going to a fast food restaurant every day for lunch.

If you have vices, try to cut them down. If you smoke one pack a day, for instance, imagine how much you can save in a year if you never smoked at all. Try buying cheap cigarettes instead. Sure, they don't have the same flavor as your premium cigs, but if you lose your entire taste for cigarettes, then it helps you stop your vices.

Budgets are created to set aside a small amount for savings. If one can save a small amount FROM the budget, it's even better. Just remember that savings aren't felt overnight. Just keep saving and look at the amount a month after, and two months after, and so on. You'll realize that you've made a big difference.

at 11:56 PM
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