Living with a Small Budget

The greatest problem that we all face when living on a low budget is probably the issue of living. While it is possible to exist with next to no money, we do find it increasingly difficult to enjoy ourselves.

The first thing that we would have to look at would be the needed expenditure. By this, I mean the bills that we would have to pay to stop the idea of going to court or further action being sought. These could be things like rent, contracts and payments such as child support. All the items that we should pay before we do anything else to ensure that we can exist.

The next thing that will have to be looked at would be the actual food and drink that you would have to pay for. If we have a small example here, it may be helpful:

Income £200 a week

Rent £100 a week

Bills £40 a week

This example would leave you with £60 to spend on things like food. It may then be helpful to break this down to a daily spend and budget amount. Although you may not stick to this and but lots of food one day, you will still have the contingent to spend within this money and attempt not to exceed this. A single individual should be able to live on around £25 of food a week at the very basics. This would involve not eating branded products and living mostly uncomfortable of your money.

With the idea of bills, it would probably be recommended that you look to switch to the cheapest gas/electricity provider in your area. This will help save an average of about 21% off your energy bills initially. There is also the monetary help with things like cash-back to pull you in to having their offer. This will need to be avoided in most cases if you are looking at the bigger picture.

If you have any contracts (such as phone), it may be advisable to contact your network provider and reduce the amounts of your bills. This will undoubtedly cause you to have fewer minutes, text and other benefits on your contract.

It may be advisable to check the terms and conditions of any contracts that you currently have, or would be looking to take out. This is recommended especially for the provision of changing energy providers with your heating.