Family-Budget Articles
How To Save Money By Defining List Of Expenses
(category: Family-Budget, Word count: 158)
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With the institution of malls, affordability of technology, and rising cost of health care, loans, and rising inflation, it has become very difficult for one to spend less and save money for future use.
Current statistics show that banks are showing a considerable decline on each bank account holder's savings and have shown an increased in the number of withdrawals per month leaving people little money to spend before the next salary strikes their account.
Along this fact shows a relative increase in the amount of spending made in private institutions marketing different products.
While these facts and a host of temptations are a commonplace scenario in the real world, there are many ways by which you can keep yourself from getting into the hype and aid you in creating and developing your personal and unique habit of saving a few dollars from your basic salary.
Essential Money Saving Tips for Students
(category: Family-Budget, Word count: 461)
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It is easy to get caught in the rush of things when you are in college. In the midst of studying, part-time jobs, socializing and extracurricular activities that you have, you are most likely to forget one of the most important things, which is straightening out your finances.
Here are some tips on how you can save money as a student:
1. Plan ahead.
If possible, do this even before you move into your dorm room.
Check if you are eligible for scholarships and other grants before signing up for any form of student loan.
Construct a cash flow. First, where do you expect to get money from? Make a list of your "income", be it from your parents, your student loan or your part-time job.
Then forecast your expected monthly or weekly expenses for food, books, etc. Once you have set aside a budget, be strict with yourself and stick to it.
You will never know what unexpected expenses would come your way so it is better to have a downfall for financial emergencies.
2. Save on food.
One of the major expenses that you have as a student which you might have ignored when you were still living with your parents is your food allowance. Avoid eating at fast food outlets, as this is most likely to ruin your budget. Pack your lunch and plan your meals as much as you can.
3. Take full advantage of student discounts.
Those ID's in your wallet are not just for show. Student ID's and memberships in organizations are honored in several establishments which offer discounts.
Also, patronize a certain establishment regularly and you are bound to get bonus cards for being a loyal customer.
4. Use your cash as much as you can.
Since you already have a draft of the items where you will spend your money, it is easier to monitor your cash flow. Avoid using your debit card when you have cash with you. Use your credit cards or write checks only in emergencies. Having debit cards, credit cards and checks handy might lead you to overspend.
5. Keep yourself busy.
Join clubs according to your field of interest.
Keeping busy will let your mind wander and help you stay away from things that you are likely to spend money on when you get bored. Examples of these are snacks, movie tickets or game rentals.
You will be surprised at the amount of money that you will actually save by spending less on luxury items, following your budget plan and saving for financial emergencies that you are most likely to get as a college student.
No Fret Family Budget
(category: Family-Budget, Word count: 441)
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For some, the idea of a budget is often a blur. It is frustrating to see how hard it is to do a budget and realizing that with one wrong purchase, you can actually ruin the entire thing. And this has been a perennial headache for most homemakers.
It is about time to overhaul the way people look at budgeting. It can actually be a great way to keep track of your family's expenditures and help you evaluate the things that you spend the lion's share of the family's earnings on.
What is a budget? A budget is a tool for handling your finances by controlling the family's expenditures in a way that money is enough for paying up bills, and still ensuring that savings are set aside for future expenses - vacations, or children's education, or even for retirement.
Try these simple steps in preparing a no fret family budget, and see the benefits of intelligent spending.
1. Gather three months of your pay stubs and get your average monthly earnings.
2. Get out three months of your monthly bills. Do this for the fixed expenses like the rent, phone bill, car payments and other loans that come monthly. Add them up and get the average. Do the same for other expenses like groceries, and credit card bills.
3. Evaluate the results of your computations. Looking at your average monthly earnings against your monthly fixed expenses and other monthly expenses, think of some ways to economize. Cut back on some items that are somehow unnecessary.
4. Knowing the facts of your income and expenses, develop a family budget and try to stick to this monthly budget.
5. Now that you have a monthly budget, set up a savings account. Save up by making regular deposits to this account.
6. Keep track of this monthly family budget just to see if it is working for you. Try to fine-tune the "rough edges" of this budget as you go along.
7. If you can get hold of a personal budgeting software or spreadsheet application to keep record of your budget, the better. This will make organizing your expenses very easy.
These are the basic steps in developing and implementing a no fret, easy to stick to monthly family budget. Of course each family has diverse needs and wants. You have the freedom to develop your own monthly family budget, depending on your family's financial background and needs. No matter how you do it, just focus on the end result, which is building a savings that leads to a bright and financially stable future for your family.
Keep Them Handy Budgeting Tools That Work
(category: Family-Budget, Word count: 192)
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Budgeting your monthly expenses in order to get the greatest return on your income (and perhaps, even put aside some for saving!) doesn't have to be extremely hard.
Various budgeting programs are available for use. Money management programs provide you with a usual package that allows you to enter your cash inflows and outflows, categorizes your expenditures, and at times, presents to you analysis of your spending behavior. Through these programs you can also input the various payments you have to make monthly, and subsequently track if you've paid your dues on time. Moreover, some programs also offer you a tax form draft that will help you make sure you're not missing out on any dues or any deductibles, for that matter.
Another budgeting tool that you can utilize are coupons. Various stores and magazines contain coupons that you can use to get discounts on various products. Should there be a need to purchase a particular product for which you have a coupon for, you will end up saving a fraction of what you might have had to spend on a regular purchase.
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Less Money And Enjoy More
(category: Family-Budget, Word count: 181)
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Save Money on Groceries
Saving Money is one hard task. There are lots of things to be considered, primarily on how to budget your cash on hand that would somehow, if not manage to have excess left money, be exact of what it should be used for. Budgeting is really a pain in the neck. Allocation of electric bills, water bills, phone bills, etc. is just few of the many things being considered on how to utilize your cash wisely. Food is no exception. Being the most important of all house responsibility, we prioritize on how to budget our money, reducing the money spent without sacrificing the food allocation. We mainly buy necessities in groceries. It would be of help if you list down goods you have to buy together with their prices (if possible) so as to ensure yourself that the budget allotted for food is exact or there is a shortage. If so, you could trim down your list or think of a better replacement. To furthermore avoid shopping shortages, here are some tips.
Self Discipline And Saving Money
(category: Family-Budget, Word count: 406)
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A great way to save money is to be aware of the fact that one has the power to define the state of his finances specifically through a conscious effort of disciplining the way one spends and controlling one's expenditures.
Self-discipline will most definitely be the key to reducing one's debts therefore increasing the possibility of growing one's savings. And in the long run, improve one's standard of living.
According to money management book author Robert Hastings, "Undisciplined money, usually spells undisciplined person". Therefore, if one notices how his hard-earned money seems to slip away so darned easy, then it is about time that he rethinks his ways and try to discipline his unpleasant spending habits.
One of the essential keys to successful money management, specifically saving money is to possess proper attitude. Self-discipline is at the topmost of this proper attitudes list, of course.
Only with self-discipline that people recognize that they do have the freedom and power to do the right thing over doing as their impulses dictate.
Sounds complicated? Well, not really. Knowing fully the fantastic rewards of disciplined money in a disciplined person's hands should be motivation enough for one to do all that is humanly possible to achieve that elusive financial stability everyone hopes for.
Here are some helpful money saving tips.
1. Realize that the most convenient method of building one's wealth is through saving money. Money is the only sensible material to save.
2. Focus expenditures on the things one needs. Live day-by-day knowing that you have enough.
3. Avoid buying on impulse. Take your time when buying, especially the expensive items. If you really need it, it would most definitely not slip your mind. Otherwise, if you go along forgetting all about it, then it isn't really worth the money you have to spend on it at all.
4. Credit card debts hold the number one slot as the cause for financial drains these days. Control your spending by using your credit cards less. Or for unavoidable circumstances when you really have to use the credit card, consider using the ones that charge less interest. Then dump the high interest ones for good.
No matter how you look at it, saving money is so easy to do. A little bit of imagination, some creativity and a lot of self-discipline will take you a long way in keeping hold of your hard-earned money.
The Advantages Of Using Money Budgeting Software
(category: Family-Budget, Word count: 430)
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The problem with most people these days is that they get so comfortable with their expenses through the aid of credit cards. They become so indulged with cashless shopping that more and more people are spending more than what they can afford.
For this reason, experts contend that budgeting can definitely alleviate the consumers from "financial strain" by managing their expenses and income instead of falling into the pit of liabilities.
However, some people just contend that they cannot simply do budgeting alone. They insist that they need some help in order to come up with a reliable and workable budget.
That's why some financial experts have created some money budgeting software that will facilitate the creation of a good budget in order to promote wise money-saving strategies.
Basically, money budgeting software assists an individual in his or her expenditures and uses the money sensibly. These new technologies will help distribute the money into various aspects and areas and will also help add to savings.
So, if you still don't know what the money budgeting software can do for you, here is a list of its advantages:
1. It helps you keep track of your expenses
Money budgeting software can definitely allow you to keep track of your expenses. With this kind of technology, you get to understand your cash flow and allow you to be aware of how much money you spend and earn.
2. It helps you to create some probable projections of the future
While some people are comfortable with the usual type of budgeting on paper, utilizing a money budgeting software can give you more than what you expect. You can even make some possible projections using your integrated money budgeting software. And if you are really into hard copies, you can even print them out for record keeping.
3. It gives you control
The problem with most people who do not have a budget to guide them is that they tend to overspend with what they have.
With this kind of help, you can gain control of your expenditures. You will be able to know when you are already overspending or not. Plus, you become attentive of the blow of every money decision that you make.
The bottom line is that money budgeting software can definitely give you the kind of assurance and control that you need to keep track of your expenses. In this way, you can be surer that all of your spending activities are based on reason and plan and not just sheer indulgences.
Saving Money On Electricity A Money Saving Maintenance
(category: Family-Budget, Word count: 446)
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An electrical appliance that does not work at maximum capacity results in less than ideal performance and higher electricity bills. That is why it is best to save on electricity in order to save more money.
Here is how you can get everything saving up:
1. Keep your appliances clean and well maintained. Regular cleaning and maintenance keeps your appliances in top shape, hence, it will perform better and consumes lesser energy. Energy saved is money saved.
2. Have an annual checkup by a qualified service technician. This can reduce the appliance's operating costs by as much as 20%, extend the life of the system, and improve its safety and air quality.
3. When using air conditioners, it is best to establish your comfort temperature, and then setting your thermostat at that level permanently. This will definitely save on electric bills because the air conditioning unit takes less energy to cool air four to five degrees than it does to cool air eight to ten degrees.
4. Replace any items that may have been 10 years or older already. Old appliances are most likely not at their optimum efficiency. By replacing them, your electric bills may be cut by half.
5. If you experience a power outage, make sure you turn off the switch on your appliances and allow time to pass before turning the appliances on again when the power returns.
6. In refrigerators, do not overstuff compartments with bottles and plastic containers. Cool air must circulate freely to avoid overworking the condenser.
Also, try not to leave the door of your refrigerator as open as possible or open longer than what is needed. This will have the tendency to allow the cool air to break out.
7. Always try to look for the "energy saving" logo or notes whenever you buy your new appliances. Buying an appliance with a logo that states it consumes lower energy, it will definitely let you save more money on your electricity.
8. Always use energy saving lights or light bulbs. These energy saving lights or light bulbs usually last up to 12 times longer. Plus, energy saving light bulbs consume less energy. Hence, you will be able to save more money just by saving on electricity.
9. Use energy-saving facilities at home like energy-saving windows or energy-saving appliances. This will lessen the consumption of energy and, thus, will let you save on money.
For instance, use a "double-glazed" window instead of the ordinary window.
10. Use insulators at home. This will not let the warm or cool air out, and vice-versa.
Indeed, saving on electricity will definitely save more money.
The Benefits Of Using Money Saving Coupons
(category: Family-Budget, Word count: 440)
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One great irony of life is that people find it so easy to spend money and yet, they find it doubly hard to save money.
Almost 80% of the consumers, according to some surveys, tend to spend their money easily and find it hard to save even just 10% of their income or any amount of their earnings. They always insist that they have more expenses than they can handle; that is why it is so hard for them to really create a hefty amount for savings.
What people do not know is that they can easily save more money even on their daily expenses if they just know how to do it.
The point is that if they were really wise consumers, they would definitely take advantage of freebies and discount items that can absolutely cut their expenses almost in half.
One of the best examples is the utilization of money saving coupons.
The problem is that many people are still not aware of the benefits that money saving coupons can give. They contend that these freebies just offer such a little amount of money and that they can be better off without it.
Therefore, for those who are not yet fully aware of the benefits they can derive from these money saving coupons and what they can do in order to save more money, here is a list of some of tips on how to use these coupons for a cause:
1. Look for the right places
If you are not yet aware of the right places where you can get excellent money saving coupons, try to look in your local newspaper, especially the Sunday editions. It's one of the best places where you can get discount coupons.
Usually, different establishments provide discount coupons to entice consumers to buy their products. That's why they use the paper to distribute their freebies.
2. Shop online
Online businesses also provide money saving coupons. What people do not know is that online discount coupons provide more money saving percentage than what the newspapers can give.
Best of all, it is so easy to accumulate discount coupons. All you have to do is to sign up for the online business and you can easily get some of their freebies.
3. Coupons are great money savers
The very advantage of money saving coupons is that they can cut your bill to almost 50%.
Indeed, using money saving coupons can definitely save you more money than what you have expected. So, for those who do not know this yet, try to cut more coupons and start saving.
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