Budgeting Week #4

Now that you have lowered your fixed expenses as much as possible let’s go over a few ways to lower your variable expenses. This should be the easier of the two categories to cut back on but you will have to be disciplined, which is no easy task.

Gas – Since we have no way to control the cost of gas or how much it takes to fill up our vehicle, here we have to be wiser when it comes to traveling. First, figure out how many mpg each of your vehicles get. Use the vehicle that gets the better gas mileage more frequently. Also, do as much as possible to plan the places you need to go in advance and try not to back track.

Gifts – Shop year round. Anytime you happen to be out shopping check out the clearance rack. If you spot a good deal, pick it up and save it. You never know when you might need a gift unexpectedly. This saves you from having to go out at the last minute and buy a gift paying full price. If you are in need of a specific gift try shopping online using a coupon code you will usually come out cheaper than running to a store but you have to plan ahead to leave time for shipping.

Clothing – Best tip I can give you to lowering this cost is to shop after the season for next year. You can find some great deals by browsing the clearance racks.

Eating Out – Set a goal to eat out less frequently. This could be to go from eating out 3 times a week to once a week, or from one a week to once a month. A good goal to try to reach would be to evaluate the money you currently spend on eating out and try to cut it in half.

Groceries – Your money will go a lot further by buying groceries and preparing meals at home. So what if you aren’t the best cook in the world. Experiment with different recipes and keep a list of the “hits” to cook again. Shop with coupons, stockpile, and stick to your grocery budget.

Hope you all have enjoyed this Budget Class and learned a little about creating and sticking to a budget. Your homework for this week is to give me some feedback……

Do you feel this class was helpful?
Would you have liked to hear more about a certain subject?
Is there anything we missed?
Do you have anything to add?