What keeps you up late at night? Is it the skyrocketing cost of gas? Is it your unchanged minimum wage? Is it the fact that you’re the sole breadwinner in your family? Not having enough money to live on can be a… female dog. In the most critical situation, not having enough budget to work with can affect your family’s life.
What you need to do is work out money-saving measures along with money-earning opportunities in order to stretch the dollar you earn every month. It will take a bit of sacrifice and a lot of discipline to accomplish your goal. But with enough creativity, you may just enjoy some luxuries even with a little frugality.
The first thing you want to do is look at where your money is going. It’s necessary to get a clear look at your finances to effectively cut out items you might not need. Make sure that all major expenses are covered like food, utilities, mortgage, college fund, and retirement. Whatever amount is left may be used for other expenses like clothes and entertainment.
The next thing you want to do is look up economical options. Think like a company that sources out the most cost-effective vendors for their office supplies or business VoIP service. Businesses will try to find the most affordable service provider to save on operating costs. You can do the same. For example, why pay for groceries at full amount when you can get them for half the price by collecting coupons? Just watch the clever men and women on “Extreme Couponing,” who pay for their food and toiletries at almost close to nothing.
When it comes to your wardrobe, exercise restraint and patience. This may come as a challenge to shopaholics but buying your new dress, jeans, or shoes at bargain basement prices provides as much—if not better—high as buying it at full price. Shop during end of season sales. There are plenty of online stores that offer discounted designer duds and accessories so you get to look your magnificent self without breaking the bank. Just be sure to choose an online retail store that provides authentic branded items.
Look for free stuff. Who says you have to spend hundreds of dollars to be entertained, to have fun, or to find relaxation? Sure, it’ll be a hoot and a half to go to a music festival that costs a few hundred dollars or to get a massage at an elegant spa. Every city in every state offers free activities for tourists and residents alike. You just have to know where to find them. Explore the free parks, museums, and other sights of your city with your family. Relax at the beach (if you live near one) on the weekends. Be a guinea pig for a masseur or masseuse in training.
Finally, save money by curbing small expenses that add up to significant amounts. You might not know it, but those fancy blended coffees you buy daily might cost in several hundreds of dollars at the end of each month. Cut down on the unnecessary expenses. Doing so may leave you with wads of cash to for your retirement, mortgage, or that exotic vacation you’ve always wanted.