Living on a Budget
My name is Sue Adams and I work part time for VacuPack. I work for them a few hours a week, as I am retired and living on a fixed income. Below are a few things that I have found helpful in staying within by budget.
1. When grocery shopping, watch for sales or shop at the warehouse stores. Buy larger quantities and vacuum seal fresh vegetables, fruits, grains,meats. etc. Vacuum seal your food in various size packages to be used at a later date for soups, stews, dinners or appetizers.
2. You can cut spending painlessly by keeping track of all your expenditures.
3. For necessary purchases (food, insurance, transportation, etc.) be sure to comparison shop to find the best pricing.
4. Build an emergency fund. This will help you to avoid having to take out a loan to cover unexpected expenses.
5. Limit your spending for birthdays and holidays (especially Christmas). It is easy to overspend on others, but not wise.
6. Arrange with your bank or credit union to automatically transfer funds from your checking to your savings account, each month. If you add that amount to your monthly budget, you won't even miss it, and it will be there in case of an emergency.
7. ALWAYS avoid using high interest credit cards and payday loans.
8. Save your coins (your loose change) and add it to your savings account. You will be surprised how quickly this adds up.
9. If you are a low or moderate income earner, you may qualify for an "Earned Income Tax Credit".
Pay down your debt with part of this credit.
10. If you are employed and your company offers a 401K program and your employer will match your retirement savings, you should take advantage of this option.
Written for PMG by: