How to Create a Frugal Budget
Saving money is easy when you know how. Living frugally doesn`t mean sack cloth and ashes either. You can still live a good life, have loads of fun and save tons of money.
But before you embrace the frugal life wholeheartedly do a bit of thinking first.
To set yourself a frugal budget, start by working out your income per month, then work out your outgoings. Differentiate between necessary spend such as rent or mortgage, travel to work costs and the like. The rest is what we are going to play with and by learning to live cannily you start to live frugally.
But it won`t work unless you do two things. First set a target either to save a set amount each month or to reduce your expenditure to a given level each month. And then once you have set yourself a strict and firm budget stick to it. Unless you impose real harsh discipline on your spending and unless you have a goal in mind, it will be difficult to stick to the frugal lifestyle.
And here are my top ten tips to help you save money and live frugally.1.
List out all your regular bills and payments and by going online and using price comparison websites for things like insurance, gas, electricity, phone and broadband, even mortgage, see if you can get yourself a better deal. You will.2.
Similarly review all your direct debits and subscriptions and stop paying for all the things you no longer need, like rarely watched satellite channels.3.
you are a member of a fancy gym, stop it and join the local sports centre. Just as good but much cheaper. Better still take up jogging and stay fit for free.4.
Start doing your weekly shop just before closing time when produce reaching their sell by dates get slashed in price. Still ok to eat but will save you loads.5.
And while shopping, stop buying expensive branded goods. Buy instead the cheaper own label range. Much cheaper and you won`t even taste the difference.6.
Instead of buying fancy cappuccinos and lattes each day, buy a flask and make up a flask of coffee at home and take with you.7.
Stop tumble drying. It is free to dry on the line outside. Easy to do, especially in summer.8.
Stop buying a daily newspaper. You can read most newspapers online for free.9.
Stop eating out. Restaurants are expensive. Even takeaways will eat into your frugal budget. Start to learn to cook and especially cooking with frugal ingredients. It can be tasty and a load of fun.10.
Collect shopping coupons and before you buy anything check out online for discount codes.
And after 3 months of living frugally challenge yourself to save and to reduce your spending even more. And so on and so on. It really is not too difficult, is it?
And finally consider this. If you are really successful at living frugally just think how much free cash
you are going to have to spend on something you really really want.