Surviving on a very tight budget for a month is a great task but the financial reward is enormous. The tight budget could be as a result of reduced income, a willingness to keep track of your expenses, a plan to reduce your debt profile, or an intention to embark on some savings. Whatever the reason for this tight financial situation, be assured that it will be a worthwhile discipline adventure.
Here are some tips that will help you survive a tight budget in a month.
#1. Make a budget- start by planning on the disposable income for the month. This will help you not finish all the available income before the middle of the month. Though the available funds are small, make allowance for contingencies in the budget.
#2. Pack your lunch. This may not seem fashionable and convenient but it cost effective and as well healthy for you. You will cut down on expensive lunch packages that are not really satisfying.
#3. Make your coffee. You can save a lot of money by making your own coffee both at work and office. Starbucks coffee may seem very nice and convenient but will surely be more expensive than making your own coffee.
#4. Do not be fooled by packaging. Most goods and items that come in colourful and presentable packages are more expensive but offers the same utility as the ones unpackaged. Compare cost meticulously before making you purchases.
#5. Purchase in bulk. You will be making a lot savings and also be able to buy more when you purchase in bulk. There are also discounts that come with bulk purchase. It will be advisable to make the bulk purchase at the beginning of the month.
#6. Look for garage sales online. There are a lot of people around trying to dispose things that are not useful for them but are still very relevant for you and help you cut down on cost. Always look out for this on the internet or the neighbourhood.
#7. Check out free events in your town. To save money on tickets for concerts and movies, check out the websites of theatres in your town for events that are free of charge and grab the opportunity. Not all these free events may be your favourites but you can still enjoy the movie and save some bucks.
#8. Skip cable TV. People spend a lot of money on Cable TV and productive time as well. That money and time can be saved for some other profitable uses.
#9. Reduce electricity, gas and phone airtime consumption. Consciously merge your activities that require gas and electricity, and then shut down. This will help cut down the bills you need to pay at the end of the month. You can do this on a weekly basis at first then daily subsequently.
#10. Hang in there. There will be a lot pressure to cave in and continue on your usual extravagant expenses, but you need to resist the urge strongly. Refuse to enter into debt to fulfill your desires.
These tips and many others will help you to streamline your expenses. It will also enable you to enjoy the usual goods and services on a monthly basis but on a reduced scale. The important key is to hang in there and resist the credit card escape avenue.