If you’re trying to pay your debts, chances are, you’re having a hard time coming up with the money. Even if you’ve already used debt consolidation, modification and relief actions, you’re probably wondering how you can streamline your budget without having to tighten your belt too much. Here are some tips for budgeting your personal finance books.
Unless there’s a big front coming in, set your thermostat to around 65 degrees, and wear comfortably warm clothing, like sweaters and thermal underwear. You can lower it to 60 degrees when you go to sleep – just make sure to have a second blanket.
Insulation is the next step. For a few hundred dollars, the potential savings over the years (even with maintenance costs) are in the thousands. Take note of unused rooms, basements and attics in particular. Heavy drapes during the winter can also help in insulating windows.
Work savings
If you can walk or bike to work, you can both save more money, and at the same time keep fit, which may bring medical costs and expenses down (not to mention improve future insurance terms).
Pack your lunch. Even better, get a few of your friends at work to form a “lunch club,” so you all can share food. Aside from savings and adding variety and a pleasant atmosphere to your lunch breaks, it can also be the start of an effective peer network.
Eat well
Learn how to cook, even if it means “five-minute” preparations. Once you become more experienced, you will be able to match most restaurants for flavor and preparation. You’d be amazed at how much you’ve saved, and really, nothing beats good home cooking. If you will go out to eat, don’t be ashamed to budget your meal realistically.
And, if you can do all these savings without using your credit card, then it will be much better. Living on a cash-only basis can potentially almost double all the savings you’ve been able to do.
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