Ok you just realized it was payday, Happy Pay Day! OH NO, you have bills that need to be paid, groceries to buy, new dance slippers for your daughter, and you need to make sure you have budgeted in enough to last until the next payday.
How do you make you money stretch? Being a single mom who works very hard for what she earns, I have bills that come every month and whether I like it or not they need to be paid. I have 2 kids to support therefore living penny-wise is how I survive.
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With the economy the way it is, it's natural to feel that you are not making enough to keep up. It's ok, I am feeling the strain on my wallet too but I am very adamant about having a budget.
Cut back!
Monitor your spending and at the end of the month, add up what you've spent. Now you'll be able to see the big picture. Evaluate what your spending habits are and decide what you need to cut back on.
Getting your budget under control is just one-step in the right direction. Take it further and reevaluate the way you are living to see if there are any other areas that you can reduce.
Say no to Bank Fees
If I were a bank, I would not have any fees associated with any account or activity. However, let us step out of the clouds for a second. Avoid banks that have ridiculous fees, if that's not an option make sure you always use their ATM's. Put what you can in a savings account that earns interest so you are making money off your money.
Reflect before you purchase
Wait a few hours before you make the purchase so you have thorough time to think about it and are not acting on impulse.
Use coupons
The mail carrier doesn't just stuff these in your mailbox for the fun of it! Before you go grocery shopping skim through the coupons. If you use them then keep a running total of your savings and add it up at the end of the month and year. You will see that you can save quite a bit on groceries shopping with coupons.
Think used
When it comes to any purchases look at flea markets, second hand stores and check your local classifieds, e-Bay or craigslist.org before you buy new.
Shop at the right time
Take advantage of sales, the clearance rack and end of season sales. This will surely put more money back in your pocket.
Shop around for the best price
Don't settle for something unless you have shopped around for the best price. This includes homeowner's insurance and car insurance. Sometimes spending the extra time may benefit you even more than you thought so it's worth the time.
Skip eating out
By eating meals at home and taking your lunch to work, you can save thousands of dollars.
Lower your utility bills
Shopping around for the best carrier and making a few alterations during each season could save hundreds on your utility bills. Get rid of cable and rent movies. In the winter, get a space heater, and use door covers to rid the draft. Avoid paying your bills over the phone where they may charge a fee.
Recycle
Although you can recycle your containers for money there are other way to recycle. Computer and notebook paper is easy to recycle if it is just for yourself, just turn the already used page over and write or print whatever you need.
Hair Cuts
Honestly, your hair is going to be cut either way so why do people go to the most expensive places. If you want to save some money, then go to a less expensive stylist.
See, it's not that difficult is it? Just look around and you will find many ways you can cut back. It's all about being in a certain mindset. If you manage a healthy budget and practice pinching pennies wherever possible, you can live well and still have money in your pocket.
About the Author:
Carrie is a single mother of two, works as a nurse, and attends school online where she is taking a bsn course. As head of the household, Carrie is a huge advocate of managing her money wisely and hopes to encourage others to keep a healthy budget. She can be found blogging about her experiences at Tales from a Nursing Student.
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