Get-Tough Budgeting Tips

Get-Tough Budgeting Tips | Staying Financially Healthy | Reverse Your Thinking® budget recession, deficit
Get-Tough Budgeting Tips | Staying Financially Healthy | Reverse Your Thinking®

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.

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