We can all benefit from saving money, right? Of course we can. When our finances are in order and there is enough money to pay the bills saving money can mean that there is extra to put away for emergencies. When money is tight it is even more important to find creative, if not always obvious, ways to stretch our dollars further.

In the spirit of saving money we have decided to post this multi-part blog with tips that can boost your personal budget. Please share this article with your friends and family members as well. We hope that you will find some very useful ideas in the days to come.

Tip #1: Cut the Fat From Your Budget!

A simple rule of thumb when it comes to planning your personal financial budget is that you cannot spend more than you earn. First you need to add up all of your monthly bills and expenses. Next, add up your monthly income. If your bills and expenses total more than your income then one of two things has to occur: spend less or make more.

Here are a few common expenses that you may be able to consider lowering or cutting from your budget entirely:

  • Cable (Cut or considering downgrading to basic cable only.)
  • Cell Phone (See if you can change to a cheaper plan with fewer minutes.)
  • Eating Out (Limit yourself to fewer meals out per month.)
  • Pest Control (Buy spray from your local hardware store instead of hiring professionals.)
  • Nail Salon (Either go longer between visits or buy tools to do your mani/pedi yourself.)
  • Gym Memberships (Your health is important, but you could develop an at-home fitness regimen until your budget can support the added cost of a monthly gym membership.)

We know that cutting spending is never a fun process. Truthfully, it can be downright painful at times. However, when you have cut your excess spending enough to create a balanced budget for yourself you can breathe a sigh of relief.

Just think of all of the stress you will be eliminating from your life when you don’t have to worry whether or not you will have enough money to pay your bills each month. Visit us again tomorrow for another great tip on saving money!

If you would like professional assistance from our caring credit specialists at HOPE4USA please give us a call. You can reach us at 704-499-9696.We would love to hear from you.