Living Tight Budget Tips
Feeling the pinch this time of year? We sure are.
Frugal Living is not exactly our thing, but my hubby and I are attempting to live on a daily grocery budget at the moment. December and January were expensive months, with Christmas pressies to buy, Summer Holiday fun to be had and Back-to-School goodies and extra-murals to pay for. Plus the price of petrol seems to go up every few weeks and that makes the price of everything go up. Add to all this our upcoming renovations and suddenly our budget is tighter than ever.
So yes… the tips in the contributed post below are coming in handy right about now.
Frugal Finances: Tips For Your Business & Home Expenses
During the first few months of a new year, we all want to make sure that we get ourselves back on track. Because the end of a year can always be quite chaotic financially.
And this will often apply to your personal and business finances if you have them.
After you’ve had a bit of a rocky time, you always want to make sure that you can straighten things out again. One of the best ways to do this is to get a little more frugal with your expenses.
We’re always going to have a range of expenses, and they won’t always be easy to control, but if you want to really maximize your money, then you may find that these tips can really help you.
Know What You’re Spending
Do you know what expenses you have each month?
It’s highly likely that you’re going to say yes to this, but if you were to actually look into your expenses, you may be quite surprised that you spend a lot more than you think.
When it comes to your business expenses, you have to be quite vigilant, just to make sure that you are actually turning a profit.
So, this is something that you should look to do with your personal expenses too. If you’re able to track what you spend, you will start to see where your money actually goes. This is the perfect step to getting smarter with your money.
Create A Budget
A lot of the time, we associate the word budget with being frugal, or in a poor financial position. But that’s not necessarily true. Budgeting is a really smart way to manage your expenses.
If you want to make sure that every purchase you make counts, then having a budget for every area of your business or life, from bills and transport to groceries and beauty products, will really help you to do that.
Be Smart With Your Rates
Next, you’re then going to want to make sure that you’re being super smart about any financial products that you have.
Sometimes, you will have to pay interest as part of your expenses, but it’s always best to make sure you’re getting the best rates possible.
Be sure to compare products, using something like Best.creditcard, before you take them out. Shopping around is a great way to get the most out of your financial products.
Cut Where You Can
As you start to get more conscious about both your business and personal expenses, you may start to realize that you’re spending on a lot of things that you don’t want to be – or need to be.
So this is when you’re going to want to save on your monthly expenses by cutting out what you can.
Finally, you’re then going to want to make sure that you’re going over this process as much as possible. It’s not always enough just to track your spending once.
It’s something you should look to do continuously if you want to stay on top of things. By reevaluating your expenses a few times a year, you should find that you’re being as smart with your money as possible.
Is your budget also feeling a little stretched right now? Where are you planning to cut down?