Ways to Trim Your Budget When You Are Already Living on a Shoestring

April 21, 2017 at 4:17 PM Leave a comment

Being financially responsible is one thing, but finding out that you need to pinch your pennies even harder than ever can feel like an overwhelming task. Some families experience just such a situation when a vehicle or major appliance breaks down unexpectedly. Others must find new ways to save money after the birth of a child and a lengthy maternity leave.

No matter what your reason for reviewing your budget, it is seldom an experience that you look forward to. Thankfully, there are many experts in frugality who are willing to share tips, tricks and even hacks that may fit into your lifestyle, as well as your bank account.

5 Frugal Suggestions

While certain money-saving tips may seem extreme to some people, other ideas may seem very doable with your lifestyle. Learning some ways that others increase their level of frugality is a great way to help you decide just what you can live without in order to save money. Some of the best money-saving hacks include:

  1.       Ditch the dryer – When you stop using an electric dryer for your wet laundry, you will be able to save just over $16.00 each month. While some may turn up their nose at this amount, it is important to do the math as you are hanging those clothes out in the fresh sunshine. In just a year, your savings will be $200.00.
  2.       Sleep when the sun sleeps – Instead of staying up late to catch up on projects or watch the latest sitcom, try going to bed near the time the sun goes down. As strange as this idea may seem, it was a way of life before the electric light. Not only will you wake up refreshed and ready to face the next day, you will also save money on your electric bill.
  3.       Be blind to brand names – In order to save as much as possible on your groceries, you need to be open to the idea of using generic items instead of their brand name alternatives. The chance that those cans or boxes hold the exact same product, manufactured at the same location are high.
  4.       Use your arms instead of a cart – Quick trips into any store can end up resulting in over a hundred dollars in unplanned spending. In order to make sure you are not impulse shopping, avoid the shopping carts when you just need to run inside and pick up an item or two. Your arms will, quite literally, put a limit on your spending.
  5.       Get tips from local insurance agents – Take time to shop around for a better insurance rate. Make sure to go beyond the realm of the internet and visit with a local agent over the phone or in person. Because they are familiar with the area in which you live, they may have just the money saving trick up their sleeve.

The most important thing to remember, when every dollar counts, is to take time and count every single dollar. Do not let small savings discourage you. Instead, keep a running tally of how much you have managed to save. This ever increasing number will help to keep you aimed directly at your financial goals.

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Book Review: Mama Says, “Money Doesn’t Grow on Trees! 5 Things to Do if You End Up With a Tax Liability

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