Tips for Trimming Your Budget

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If you need to save money, you'll have to trim your budget. This can be a temporary solution or a permanent one, depending on how long you need the cash. You might like having extra money to spend and keep the reduced budget even after the car repair is paid off or the new textbooks are purchased.

The following consists of some of the many ways to trim your budget. Some will work for you; others won't. All of them, though, will help you find your own ways to save money.

Entertainment

You don't have to see movies at the theater. There are plenty of DVDs out there you haven't seen. And if you join a DVD-rental site like Netflix or Blockbuster, you can rent unlimited movies for a set monthly fee.

The public library can be a great source. Depending on the library in your area, you can borrow books, audiobooks, CDs and DVDs at no charge. Just make sure to return them on time to avoid fines.

Music - online downloads or CD purchases - can eat away at the budget a few dollars at a time. Many people don't even notice that their spending is adding up every time they visit the download site or record store. You can buy fewer songs or CDs every week; shop for used CDs at record stores instead of buying new, and borrow albums from your local library (some have very good selections).

Bars and clubs are notorious for being overpriced. Sometimes you need to go out to celebrate a big occasion, sure. But for your regular Friday or Saturday night, celebrate at home. Buying a six-pack at the liquor store is a lot cheaper than drinking it at the bar.

Food

Eating out is usually more expensive than home cooking. Take leftovers or a sack lunch to work instead of spending five to twelve dollars on lunches. Many people save one hundred dollars or more every month just by bringing lunch to work!

That popular, overpriced coffee you buy isn't necessary, either. Treat yourself occasionally, but make a habit of buying an equally-good, but less expensive, brand.

Clip coupons. They really do save you money. If you're very fortunate, you might even live near a grocery store that still doubles or triples coupons on certain days.

Transportation

If you drive your own car, do the "little things" that boost your gas mileage. Fill your tires to the correct air pressure. Change the oil. Replace the air filter. All of these things will help you improve your gas mileage.

You can also conserve fuel by planning your stops wisely; avoiding start-and-stop traffic, and driving a little slower.

Use your city's mass-transit system. Even if you don't ride the bus or train every time you go somewhere, you're still saving money - especially if you buy a pass, which is cheaper than paying per ride.

Clothing

Most of us have enough clothes to last for several months - or even years. If that's the case in your household, you can temporarily suspend your clothing budget.

If you do need clothing, shop during sales. You can also save money by buying last season's clothing when the newest line is out. This way, you can buy new clothing without paying the full retail price.

Services

Look at all of the things you pay other people to do. Find the jobs that you can safely and easily do yourself and temporarily (or permanently) lay off your hired help. If you mow your own lawn, for example, you can save several bucks every two weeks (or month, depending on how fast your grass grows).

When you have a task that you can't do on your own, try to find somebody who will help you. You can barter with your neighbors, friends or family: if you find a teenager who will mow your lawn, reward him or her with something that you know how to do (baking, changing the oil in the car, etc.).

Financial

If you can, pay off every credit card's full balance each month. That way, you don't pay interest. You also avoid the stress of increasing credit-card debt, which can make your life miserable.

You should also take a close look at what your bank is charging you, if anything. Do you have to pay to use an ATM machine? What happens if you don't use your debit card enough times this month? Are you charged just for having an account?

Extra Expenses

Do you read the daily newspaper? If you have a subscription, consider reducing it to weekend-only service. You can read the weekday editions online or catch a TV news broadcast.

Your cell phone plan is a huge money eater. If you consistently have hundreds of minutes left over every month, consider reducing the plan. Do you actually use the Web access and other such features on your phone? If not, you can drop them from your account.

Cable or satellite service can be expensive. Drop extra packages from your plan - basically, the channels you don't watch often, if at all - to save a few dollars a month.

Sometimes we give in to impulse buys: paying too much for items that we don't really need or want. Patience will solve this problem. If an item costs ten dollars, wait ten days before you make the purchase. If you see a five-dollar item that you want, wait five days. That way, you have plenty of time to think about your decision. In many cases, you won't even remember that you wanted that trinket, so you're saving yourself money that would have been wasted.

These are just a few ways to save some extra money every month. If your budget trimming is successful, you'll have leftover cash to spend on whatever you need or want. Look at your budget for other useful ways to save money: you'll probably find other great ideas to reduce your spending.

 
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