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Keeping a monthly budget is a good way to help a person to save money. Here are steps and ideas for doing so:

A. Make a detailed list of all monthly expenses;

B. Have at hand monthly income;

C. On the monthly expenses list check off items that can be bought for less or not used every month. Here are examples:

C1. Entertainment costs such as seeing movies or restaurants can be reduced;

C2. Buying store brand products at the supermarket are less costly than name brand products. Coffee is a good example;

C3. Cable TV costs can be reduced several ways:

a. Use a less expensive cable TV company, normally 2 are available;

b. If no change is wanted, cut out premium channels such as HBO;

c. Ask your cable carrier for a reduced rate or you will change carriers;

D. See if refinancing a mortgage will make lower month payments;

E. Ask credit card companies for a lower interest rate. This has worked in many cases; and

F. Car insurance companies have different rates. Find a better less expensive company;

G. Many times combining all one's insurances with one company (called bundling). This may reduce monthly bills;

H. Buy regular gasoline not premium if possible;

I. Buy clothing off season whenever possible; and

J. Find a good bank that does not charge for checks.

Often times this listing budget items will enable left over funds for savings accounts.

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โˆ™ 2014-02-12 18:10:36
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