When the budget is a little tight for the month, you may be wondering where in the world you can find extra money. These options can help you save money to meet your monthly budget. They are not fun, but if you are serious about making end’s meet, then these tips will help you survive.
Cut Back on What You Eat: I am not suggesting you starve yourself or your family, but instead to cut your grocery bill drastically. Our grocery budgets are easy to pull extra money from because we can be flexible with what we eat. Eat very simple and cheap food for a month to have more money for your budget. Please remember that highly processed foods or items on the dollar menu are neither simple nor cheap. They are actually more expensive. Instead, buy a few bags of beans, rice, and affordable produce. Skip on dairy and meat products if possible. Remember, it is only for a few weeks, and I suggest this step if you are in crucial need on money.
The best thing to do when you realize you are short on cash is to use anything and everything in the pantry. If you have baking essentials, then you have the ingredients for a lot of foods. Look up simple recipes to stretch your pantry staples into meals.
Cancel or Put Subscriptions on Hold: What I love about Hulu and Netflix is the option to put your subscription on hold. Yes, their monthly cost are small, such as $7.99 or $14.99 a month, but if you are in a pinch, every penny should be counted. Are there subscriptions that you can put on hold for a month or two to save some money?
If you are regularly short on money month after month, look further into your expenses to see what subscriptions and memberships can be cut out for good. Do you really need to pay that much for a gym membership or an online gaming program? Pick through all of your expenses with a fine toothcomb and ask yourself what you could do without for six months to get your budget back on track. Yes, cable or Internet or landlines are hard to get rid of, but if you are really hurting for money, see if you can cut it for six months (of course, this can vary depending on your service provider’s penalties).
Skip the Appointments: Usually if I need a little more money one month, I skip any unimportant appointments, such as getting my hair done, a check up at the doctor, or an adjustment with the chiropractor. In fact, I have gone almost a year without getting my hair done just to save a little bit of money. What appointments could you skip or post-phone until next month?
Stay Home and Be Boring: Again, this is another not very fun tip, but could be essential for those needing to find an extra $100-300 in their monthly budget. The best way to save money is to stay home and enjoy activities there. Obviously, you will still need to go to work and your children to school.
- Only enjoy activities that are in walking distance so that you can save money on gas.
- Forget the TV and the computers. Instead, play board games or catch up on reading and crafts.
- Make showers quick and shower children instead of giving them a bath (unless you have multiple children that take a bath at once).
- Wash only the clothing you need on a quick wash and in cold water.
- Keep lights off during the day, and at night, the family should be in one room sharing the light.
Like I said, these tips are not a fun way of life. Many of the tips sound like I am an advocate for an Amish lifestyle. It is just important to cut back on life’s little luxuries when we are in a financial crunch. Cutting back for a month can help us realize what is really important and what we should really spend our money on.
- Looking for a New Investment other than Stocks? Give P2P Lending a Try!
- Compare Mortgage Rates
- FREE Credit Score!
- Get the Best Car Insurance Rate
- Best Savings Account
- Join Personal Capital Now for Free Financial Tools!
A lot of people, including myself, have a lot of bloat in their monthly budgets. It doesn't bother me all that much because I only plan on living this life once. I'm not suggesting being irresponsible, I work towards finding the balance. That being said, if I really need to there are always some things I can pull out in the short-term that won't have that much effect on my quality of life. I don't want to have to revamp my entire diet for the rest of my life, but a couple weeks or one month are nothing. It's the same now as it has always been, it's about making good decisions.
@BradHartNYC Are you not about staying home and not spending money? It's a great way to save if you are short on money.