Well, most of us are familiar with couponing and getting deals & freebies that can help us save on most things we buy online. This doesn't mean hours and hours of detective-like work since there are services devoted entirely to helping you find the beast deals and latest coupon codes. For example, instead of searching for the best deals on the manufacture's or store's websites, you can find at Discountrue within minutes. Still, we usually end up spending extravagantly on our household monthly expenses. So the best way I found to help you save money is to present you with this ‘simple yet extraordinary’ way to plan your budget and I sincerely hope that you stick to it to save those extra dollars.
The idea of planning a budget may not sound fun, but let me tell you, the benefits it will let you reap will surely add to your happiness in the long run.
STEP 1: Create a budget as soon as you can and make it as simple as possible. Keep on modifying it for six months to a whole year to meet the unexpected needs.
STEP 2: Make sure you plan for these:
Mortgage, insurance, utilities, phone & Internet bills, TV, food, travel expenses, household expenses, and your daily allowances.
STEP 3: Divide your expenses into two categories – fixed expenses and variable expenses. The former would include the recurring fixed amounts that you are liable to pay every month, such as your mortgage, any loans or car payments. The latter includes the expenses that vary every month. You can set aside certain amount of money according to the special events like birthdays or festivals that may come in a specific month.
STEP 4: An emergency fund is important too. You never know when you may be required to spend extra on medical or accidental conditions. So better set aside some money for medical, vet and car repair bills as well.
STEP 5: Maintain a grocery budget! Plan your recipes for the month in advance and shop according to that. Don’t get fooled by marketing and selling techniques and end up buying what you didn’t plan to. Always try as far as possible, to buy the items in your grocery list at best deal prices.
While practicing the budget, you’ll soon be able to analyze your shopping trends and you’ll start to learn how to get the most out of your shopping trips without spending excessive money. So good luck planning your budge. For more inspiration, just check out Discountrue I mentioned above. Always remember that the time spent creating a budget guarantees more savings, and therefore it is absolutely worth it.
PS. It is important to plan a budget, but what’s more important is to follow it religiously!