In recent times, many people are keen to know how to survive well on a budget. Surviving on a budget or making ends meet has become a challenge. Prices have gone up. The biggest costs as such are the bills and rents. From purchasing consumer durables to spending on electricity, gas, mobile or anything else, people are at their wits' end. In other words, they simply do not know what to do and how to live on their budget.
Tips to Survival:
How to survive well on a budget - Step 1:
Track your expenses to see where your money is going.
Individuals need to keep a check on their monthly expenses. Make a list of items on which money is spent compulsorily. Also, mention how the money is spent. Maintain a purchase receipt and note down each purchased item, be it in cash or in the form of credit/debit card. It is equally important for individuals to keep a track of money lent to someone.
How to survive well on a budget - Step 2:
Enjoy dining and entertaining at home more often.
Inflation is at its best height. As such, it is time individuals cut down on certain items that are not worth spending. For instance, for saving money, it is better for office goers to take lunch along rather than eating form outside. Individuals may use this money on other expenses or deposit it in their savings account for future needs.
Individuals who eat out at restaurants often fail to realize the expense they incur on it. Dinner can easily be upwards of $20. If the person dines out five times a week, it comes to $400 a month. The point: eat at home more often!
Further, rather than watching movies in top multiplexes, it is advisable individuals arrange a movie night. Include family and friends. The same may well serve as a date night.
How to survive well on a budget - Step 3:
Cut transportation expenses.
Prices of commodities have fluctuated wildly in the last year, so has the price of gas. As such, individuals have to look for alternatives for limited driving. The best option is car-pooling, which helps to save on gas. Cheapest is to travel by public transport, if there is access to subway. Take to commuting via a bus or a train when away from town.
The recent economy suggests people adopt ways to live well within their budget. Though it is not easy, it is beneficial if individuals bring it into practice. Consider the above-mentioned steps to save on hard-earned money by cutting down on few expenses.
OK - so I live in a “hood,”or a pseudo-hood anyway.
My friends think I am a bit nuts. After all, I can afford to up my standard of living and live in a nicer neighborhood, but instead I’ve chosen to stay in my semi-ghetto.
And right about now I love it. OK, I should say “like it.”
Why?
First and foremost, my rent is cheap. Really cheap, for my city anyway. I pay $680 for an apartment in Los Angeles. Certainly this amount of money might seem like a lot in other cities (say, Pittsburgh or Detroit for example) but in Los Angeles this is dirt cheap.
And with the economy in shambles, I am quite happy to stay in my ‘lil ghetto apartment for now.
My cheap rent gives me a sense of security. Sure the neighborhood isn’t the greatest, and my apartment building looks like a beaten-up motel, but there’s something very comforting about the fact that my rent is so cheap. I feel a great sense of security knowing that I am clearly living within my means.
The other things I like about my neighborhood are:
- a sense of community. I know my neighbors and feel a sense of community. Love this!
- the fact that my neighborhood has character. Yes, sometimes I don’t like the shady stuff that goes down in my neighborhood (like the occasional drug deals on the street a block away from me, or the police helicopters overhead)…but overall the character of the area is a positive thing. For example: my ‘lil hood has a bunch of theater companies and artists. No cookie-cutter stuff here; 100% unique and creative.
- the “moving forward” vibe. My neighborhood is improving, and I enjoy seeing things get better and better. There’s a sense of hope and growth in my area, and this is really cool.
- the diversity. Los Angeles as a whole is incredibly diverse, and the country as a whole is becoming more and more diverse, and my neighborhood really reflects this increasing diversity. I think its quite boring and fake to live in a place where everybody is the same, and luckily this is not the case with my neighborhood.
I’m sure I’ll think of more reasons why I like my little ‘hood, but the basic point of all of this is:
Living within my means, or even below my means, gives me a sense of financial security in a time when financial security is difficult to come by.
Anybody else in a similar situation? What do you think of the choice to live below my means?
Tomorrow is the big day for couples everywhere.
What's a person to do when they have little money to spend on lavishing their partner with love?
The answer: plan a fun date that's within your budget.
You don't have spend a gazillion dollars to have a romantic Valentine's Day. The day's not about money. It's about honoring and cherishing your relationship...and this doesn't have to cost a ton.
In fact it can be (almost) free.
A superbly written poem from your heart, or a well-planned adventure in your city can make almost anybody incredibly happy.
Some more ideas:
- Make heart shaped brownies
- Cook a romantic dinner
- Give your partner an amazing massage
- Make a "coupon" book with vouchers for things you can to for your partner (ex: wash the dishes once when its their turn to do them, 1 foot massage, 1 movie night etc..)
- Make an album with photos of the two of you
The ideas go on and on. Use your creativity to come up with a Valentine's Day celebration plan that won't cause you debt.
Have a great one!
Until next time,
FF
...Ok that's a slight exaggeration, but I'm not alone in thinking that being frugal is (finally) starting to be somewhat cool. Or at least its more acceptable nowadays.
You see, I've always been a a fruglista (is that a word?), but I've kind of kept it under wraps for the better part of the last 10 years or so. I didn't want to be "uncool" by penny-pinching, so I'd go about by frugal ways rather discreetly. Its not to say that I'd overtly lie about being a penny-pincher, but I just didn't flaunt it or mention it openly.
But nowadays I think its more socially acceptable, or understandable perhaps, to pursue a frugal lifestyle. People are starting to see that being frugal might just make a whole lot of sense, especially now that a lot of people really have to spend more responsibly. (e.g. for many years a whole bunch of people could overspend by using taking out home-equity loans to pay off their credit cards, but with dropping home prices and a failing financial system, a lot of people are realizing that they can't overspend without looking like a dufus.).
So here we have an emerging trend -- responsible spending. Its about time.
This is a first post in the new Frugal Fiona blog. Don't get too excited (all you future readers), its really just a test post. I'm new to Blogger and I want to see how a post looks. Not bad. Really diggin' the Blogger platform.
...Until next time (where I'll write a real post)
FF
