Everyone wants to save money at the end of the month. But this task is easier said than done. Unplanned lifestyle and expenses are the sole cause of this problem.However this is not that difficult and today I am going to tell you a few tips about how to make a perfect budget and survive in this time o recession.
Expense Chart: This is very important as it will help you to track the cost of every month and cut out the needless expenses. Prepare an excel sheet or get the office ledgers. Now write down the expenses like payment of rent, food, clothing, gasoline, transportation cost, school fees, internet and cell phone charges. Also write down the additional money you have planned to spend this month. Now substract the expenses from your income.
Cut the Crap: Now you have a clear idea of what you are going to do for the month. See if the savings done by you at the end of the month is satisfactory or not. You will find that you have to spend a lot on eating. If you have to eat out everyday try to bring food from the home. Believe you me you will be able to save more than 300 dollars per month.
Restrict your movie going to once or twice a year .If you have a huge family then it would cut the costs significantly. Also in the movie theatres try not to indulge in popcorns and other munchies. It will perhaps cut down the enjoyment but you can do that surely if you see that you are going to save more than 1000 dollars per month in this recession.
No Shopping: Well it’s not absolute no no but the fact is that if have to cut on that too. Depend on discount shops or wait till they offer huge discounts. Factory outlets provide better discounts than the showrooms. Also avoid changing wardrobes every month.
Along with this avoid using high interest credit card and instead use debit card, put aside some money for emergency purpose and remember one thing stick to the budget.