Cutting Back On A Budget
- affagent13
- Jun 9, 2016
- 2 min read
Certain financial situations may force you to set a budget to take control of your spending. When this happens one way to take control is by cutting back. What if you are already on a budget and thought you were doing OK. Can you find ways to reduce your spending even more?
You may not be a professional bargainista and you don't need to be, but you can redo your budget.
You may have been forced to live on a budget in the first place, this is a good when you are in a financial situation such as:
Paying off debts
Loss of an income or job
Part time employment only
Extra unexpected expenses
Addition to the family
Some Ways To Cut Back
Do you still have a budget for expenses that you WANT or you have a passion for? How about taking care of what you NEED first.
These are our needs:
Grocery
Rent/Mortgage/
Travelling expenses
Loan payments
Loan payments such as paying off a credit card bill should not have been a NEED, but in time time it will be deleted from your budget as the loan is repaid. You want to get to that stage where you no longer have a loan to repay, striving to get to that stage is a NEED.
How about cutting out purchases that are not totally beneficial, except that you enjoy them.
Buying clothes that are fashionable may be what you want, but do you need to buy what is fashionable every year? May be there are places that are cheaper than your favourite cheap store, can you change?
How about eating out less, may you do it once a week now and did so more often before. How about twice a month instead.
You may never know about these simple ways unless your financial situation forces you to look for them.
This reference article is from Yahoo Finance. In it the writer talks about how she managed to redo a budget to cut even further.
Next there is Annie Korzen. Annie has written a book on how her life as a professional Bargainista has allowed her to live the good life she enjoys while being thrifty. By shopping in the most economical ways she is able to save for the GOOD life.
For anyone who wants to take control of their finances by budgeting to spend less, this book is an investment. To learn from this Economista, you can take a look at it here.
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