Money Matters - Simplified

7 Doable Ideas on Pruning Household Budget

Pruning specific areas of your household budget, and not frugality, is the key to wiser living.
Trimming your household budget can be easy provided you are ready to embrace minor changes that the process will necessitate.

Creating a budget is just not enough. It is important to analyze it on a regular basis to cut out the waste. Interestingly, just a few changes can help to save money on household expenses.

Eco Friendly Ways of Building Your Savings

1Use cloth napkins instead of paper to cut down on household spending.

2 On nice days, open a window and let Mother Nature handle your climate control.

3 During colder months, put on sweater and a pair of socks, instead of turning up the thermostat. Avoid turning up the heat unless outside temperatures dip to freezing or below.

4 Use carpool or public transport to and fro your office.

Here is what you can do with your existing budget to make way for some more savings:

1. Stop Eating Outdoors
Weekends often entail expenses on eating out. Food served at restaurants is not only exorbitantly priced but it also increases your exposure to health hazards.

So, it is always better to cook food at home. Make sure you carry home made food even during your days out. If you could carry food to your office too, it could help you save a lot of money.

2. Buy Groceries in Bulk
Take every opportunity to save on your groceries. The following tips for grocery shopping can help you save loads:

.Buy in Bulk. Prepare a 30 day list of all groceries (minus the greens) and pick them from a single store.

.Select your grocery store based on the rebates and discounts offered.

.Make use of coupons.

.Buy generic brands rather than the high end ones or organic food.

.Limit your meat intake. Choose to become a vegetarian for lunch. This can help you save your dollars as well as ensure that you loose some of your flab.

3. Avoid shopping for Fun
If you want to save, shopping for the sake of fun should be forgotten.

Do not step inside a shopping mall or store unless you have a list of your needs ready and stick to this list. Also avoid shopping on the spur of the moment.

Plan your shopping trips to make the most of the discounts offered. Never go to stores with an intention to ‘just look around’. Such an intention may prove to be fatal for your bank balance.

4. Borrow Rather Than Purchase
If books and DVDs can always be borrowed from a library close by then why spend a fortune on buying them?

Just remember to return your books and DVDs on time so as to avoid paying late fees.

5. Dodge Credit Card Interest
How? Well, by simply avoiding credit card purchases or paying for your purchases in full before the last date of payment.

If you already have a huge debt then it will be prudent to get rid of it as soon as possible in order to avoid paying interest to the credit card companies.

Treat your credit cards only as a substitute for cash that you can use for a limited period and hence abstain from making any purchase that is beyond your financial reach.

Remember, credit cards don’t increase your earnings, on the contrary they might diminish them if you do not pay your for your credit purchases on time.

6. Save on Insurance
The market is extremely competitive. In such a competitive environment, insurance companies cannot afford to charge too high a premium.

If yours is still making you pay shamefully high, its time you look for a change.

Consult an insurance agent for more competitive quotes for auto and home insurance. You can not just save a lot of your hard earned money, but also get a couple of freebies along with the insurance policy you purchase.

7. Give Up on Your Vices
If there was any right time to give up on your vices, it is now! Whether it is smoking or alcoholism or even gambling, these vices are surely costing you a lot.

Quitting will not just save you lots, but, the smile that your decision can bring on the faces of your loved ones will be invaluable.

Trimming your household budget can be easy, provided you are ready to embrace minor changes that the process will necessitate.