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How do you save money and live on a budget?

Updated: 9/11/2023
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Chocolatechyld

Lvl 1
12y ago

Best Answer

They are one in the same! Make a budget and you will save. For starters, write down all your madatory expenses (ie rent, bills, car payment, school, child care, groceries, etc.) There are some general rules, such as living expenses (including rent and bills) should not exceed 25% of your monthly salary. I personally aim for 20%, but its up to you. Take it from there. If you are going to make a budget, STICK TO IT!!!! save your receipts, keep records, compare prices. Make a spreadsheet with all your expenses to see where your money is going. Allocate around 10% or your salary to savings. A good motivation tool for me: At the end of the month, if I have cut down cost in a certain area and therefor have left over disposable income, I treat myself.

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12y ago
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