For Todays Economy A Budget Makeover
People all over today are relooking at their budgets and trying to figure out how to make the dollars stretch just a little further. With today’s world of mass layoffs and the jobless rate through the roof this seems harder and harder for a lot of people to do. They simply just start picking and choosing which bills they will pay one month to the next which is a very bad habit to get into. Well I am sure that you have practiced the aspect of "making over your wardrobe", but how about the idea of "making over your budget"? Sounds strange doesn't it? However, it will help you meet your bills each and every month. There are generally several different steps, which you will need to do, when you are making over your budget.
I know it probably doesn't sound fun doing a makeover on your budget, however if you come up with a great plan, with great rewards in the end it makes it worthwhile. It’s a great way to find out where your money is going and how you can cut costs down here and there.
Once you know the total amount of money that you will have to work with, you will be able to know where you can make adjustments; as needed. You can consider your budget as a spending plan instead of a budget. Because that is basically what you are doing when you are creating a plan on how you are going to spend your money. Let’s take a closer look at these
steps that will allow you to make over your budget.
1. Box/File:
Try and keep your bills in either a box or a file of some type. This is a great way to keep your bills organized in your office without having your bills lying around and eventually getting lost.
2. Track Your Money:
A great way for you to do this is track all you’re spending for one week. This should be done every time you shop. You will probably be surprised when you discover how much money you are actually spending on those unneeded items such as fast food, coffee shops, and clothing among others. Now you need to find a way that you can either reduce these costs or even better yet; cut them out completely.
3. Fixed expenses and Flexible Expenses
You need to begin this step by putting into the budget all those bills that are fixed and cannot be changed. These include your utility bills, mortgage, insurance, car payments, Im sure you get the idea; Right? It’s basically everything that you absolutely need too pay every month. After you have done that you can begin to figure out the more flexible expenses such as:
a. food
b. hobbies
c. entertainment
d. clothing
e. eating out
d. and others
4. A Sure Money Saver For Your Budget
I know it is convenient to stop at the nearest restaurant and grab a quick burger, but the cost quick burger adds up quickly. Try taking a sack lunch to work. Why not save some money and make a great meal right in the comfort of your own home. What is even better its healthier in the long run?
There are several other things that you can do to give your budget a makeover, but you will have to figure how these will fit into your expenses and lifestyle. With today’s economy and record layoffs it's important for you to to look at a budget makeover.
