Could You Be More Frugal?
Let's face it. Most of us could stand to be more frugal. By that, I do not mean you have to give up everything you enjoy because it costs some money. For most families, becoming much more frugal simply means keeping better track of your expenses and making some better decisions about your money.
Figure Out Where You Spend Money!
It is a lot easier to stick to a budget when you actually have one! This may seem quite obvious, but many families have no real idea where their money goes each month. If this sounds a bit too familiar, you can start by looking at your bank statements and credit card charges for the last month. This usually uncovers quite a bit of waste and unplanned expenses. If you are like many people, you may be shocked by how much money you spent that you really did not have to spend.
Once you have discovered your problems, you are on the road to fixing them. It is hard to fix a problem when you do not even know what it is.
Make A Budget!
You might be able to quickly uncover some money sinks that you could fix quite easilly.Do you spend $5 a day on fancy coffee from the fancy coffee shop? That may not sound like a lot, but over the course of 20 work days, you have spent $100. The convenience store coffee that only costs $1 a cup is probably just as good. That would reduce your expense to $20 a month. Imagine what you could do with an extra $80!
Your budget does not have to be rigid and inflexible. If you like to spend some money impulsively, you will do a lot better if you just budget for that too. You can pay yourself a certain amount every week for unplanned impulsive entertainment or shopping. That will help you save money and concentrate on only choosing to spend money on things you really enjoy. It will help you from being deprived.
Being frugal does not mean depirvation. It usually just means taking a little time to analyze your finances and plan!