If you consistently run out of money before the end of the month, you may need to take some drastic measures to get your finances under control. Consider the following Get-Tough budgeting tips:
- You can avoid paying bank fees by maintaiting a minimum balance and preventing overdrafts.
- Avoid paying fees by stop using ATMs that charge for withdrawals.
- Stop receiving cash back on debit or credit card purchases to use as spending money
- Leave your debit and credit cards at home and only use cash or money you already have.
- Don’t use credit cards.
- If you have to, refinance credit card debt with a credit union.
- Eat meals at home. Do not eat out.
- Consider switching your carrier and reduce your overall usage of the phone.
- Take advantage of free activities rather than paying for entertainment.
- Cut back or avoid buying frivolous or luxury items such as designer labels or subscriptions to streaming services like Netflix or similar services.
- If you still have a landline service, cancel it and use only a cell phone.
- Shop your auto insurance.
- Call your current carriers for discounts or deals most companies will sometimes reduce monthly charges when asked.
- You can save $10 a month by plugging your TV and electronics into a power strip and only turning them on at night.
- Install a programmable thermostat to shave as much as 15 percent off your cooling and heating bills.
- Downsize or comp away with your storage unit. If you honestly haven’t used it for a year, sell or give away all that stuff in that unit.
- Change income tax withholding to increase take-home pay
- Take a list when shopping, and stick to it.
- Avoid shopping malls and discount stores.
- Sell an asset, especially one that costs you more money, like a boat or second car.
- Save money for an emergency fund, even if it means cutting back on your retirement plan contributions for a while.
- Use second-hand items
- Make holidays “non-spend” events or re-gift unused, like new items, or get crafty
- Move to lower-cost housing.
- Work extra hours or get a second job to make more money.