Making Your Dollars Count

It seems like more and more people are experiencing financial difficulty and a strain on their finances.

dollars in wallet

Luckily, there are some things you can do to ease the burden and get your budget back on track. 

Create a Budget

Anytime you want to get your finances back on track, you need to assess where they are before you start. You need to know what money is coming in and how much of it is going out and where it is going. 

Once you have your total income figured out, you will need to make a list of your expenses. Be sure to include your major expenses like housing and utilities, insurances, car payments, and phone bills. Don’t forget about other things like gas money, groceries, entertainment, and any other money that may be leaving your account. Sometimes going through your bank statements can help you find things like monthly subscriptions that you have forgotten about. 

Comparing how much money you have coming in and then seeing where it is going will allow you to make necessary adjustments, cut back on some spending, and make more conscious decisions regarding where your money is going. 

Plan Purchases

When you do have to make purchases, it is better if you plan them in advance. Things like meal planning and grocery lists for shopping can surprisingly cut down on a lot of unnecessary spending. 

You should especially take the time when it comes to major purchases to research, read reviews, and shop sales to find the best deals. Making sure you are getting the best deal for the highest quality item will help you to save money in the long run. Shopping around sales or finding discounts can help you save even more. 

Extra Income

Another great way to make your budget stretch is to add a little extra income. That doesn’t mean get another job, there are some ways you can make money from home. Survey websites, writing reviews, and recording your purchases are all ways that anyone can start making a little extra cash at home without too much effort. 

Planning Ahead

One of the best ways to make it through times of financial hardship is to have some extra money ready to fall back onto. If you are wishing you had more savings built up to cushion your budget, then now is the time to start planning for next time. 

You can prepare against hard times by building up your savings account. A good way to do this is to factor it into your budget and “pay yourself” before you start paying bills Since you have already done your budget and know how much extra you typically have each month, you can set a solid dollar amount to put into your savings account each month for emergencies. A good rule of thumb is to have at least three month’s worth of expenses saved, but going beyond that is great too. If you are nowhere near that, start where you are and slowly build up until you reach your goal. 


One Comment

  1. Avatar
    srivari June 23, 2020

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