Smarter Finances » Budgeting

Cutting Household Bills

drew — Thu, 05 Jun 2008 07:42:47 +0000

Are you looking for a few ways to cut household bills? If so, you are in luck. There are many ways that you can do this with a high level of success. Of course, not everybody is in the same position so something that works for you may not be the best idea for somebody else. The way that you go about cutting your household bills has a lot to do with the way that you live, as well as how many people reside in the same home as you. As you can imagine, it can be difficult to cut certain household bills when you have several children at home.

Here are three tips if you want to cut household bills sooner rather than later:

1. Determine a budget and then work within the money that you have available. If you set your budget below the usual amount of your household bills, you will be forced into saving money one way or the next. If the money is not available you cannot spend it.

2. Have a meeting with your family to determine which household bills could be cut back the easiest. For instance, you may be able to save on the grocery bill if your kids agree to cut out certain foods. By working with your family they will see where you are coming from instead of making you out to be the bad guy.

3. Tally your household bills at the end of each month. This will allow you to see where your money is going, as well as how much progress you are making from month to month. When you see that you are making progress you will be more determined than ever before to continue moving in the right direction.

With these three tips, you should be able to cut your household bills this month!

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How To Cut Your Gasoline Costs In Half

drew — Fri, 23 May 2008 16:17:17 +0000

Consumers are getting crushed by the soaring cost of gasoline here in the US. Prices are increasing almost daily and people’s budgets are stretched to the limit. However, there are a number of things that you can do to combat these wicked price increases. Following are some proven techniques that can reduce your gasoline costs by 50%.

1. Use regular gas instead of the premium blend if your owner’s manual permits it. There is thirty to fifty cent difference between the cost of regular and premium gasoline. And if your car is designed to run on regular gas, there is no advantage in filling up with premium. Of course, if your car requires premium, you should never use regular as it may cause some damage to your engine.

2. Keep your engine well maintained. A dirty air filter can reduce your gas mileage by as much as 40%. Change the air filter according to the manufacturer’s recommendations. However, if you live in an area that is prone to dust and dirt in the air, you should change the air filter more frequently.

3. Ensure that your tires are inflated to the proper pressure. Tires that are over or under inflated can reduce your gas mileage by a considerable amount. Use a tire gauge to check your pressure. Do not depend on the guage that is attached to the air hose where you get air. They are frequently inaccurate.

4. Slow down! By far the primary cause of most poor mileage is speed. As far as gas mileage goes; speed kills! Traveling at 75 miles per hour as opposed to 55 mph can reduce your gasoline mileage by a whopping 25%. So the next time you are late for an appointment, call them and tell them that you can’t afford to get there on time.

5. Keep your car well maintained mechanically. Worn out spark plugs not only rob your car’s gas mileage and power, it’s stealing the money right out of your pocket. A six cylinder car that has one fouled spark plug is wasting 17% of the gas you buy.

Following the 5 easy tips above, you can easily reduce your gasoline costs by 50%. Check out my newest ebook for tons of other details on how to cut expenses and put money in your pocket!

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Chart your Expenses for Free with the help of your Computer

drew — Fri, 23 May 2008 13:50:43 +0000

In order to keep your personal finances in check, you must make sure that you chart your expenses month in and month out. The more in tune you are with the money you spend the better off you will be when it comes to saving and increasing your net worth. Unfortunately, many people do not have the skills and/or know how to chart their expenses. If this sounds like you, it is time to fire up your computer. There are many ways that you can chart your expenses with nothing more than a computer and some hard work.

First things first, you need to decide if you want to pay for a software program or set up a system free of cost. If you are new to charting your expenses or simply want to save money, you may want to skip on buying software for now. You can use a spreadsheet program, such as Microsoft Excel, for free.

When setting up your spreadsheet, accuracy is very important. You need to make sure that you are including all of your income, as well as every last expense that you regularly incur. To go along with this, you may also want to add a “miscellaneous” category so that you can account for expenses that are unexpected.

If you have never charted your expenses in the past, there is a chance that you will run into some issues from time to time; this is bound to happen. With that being said, you will quickly become used to the numbers that you are inputting.

Overall, using your computer to keep track of expenses is a great idea. You can save yourself a lot of time and money by relying on a simple spreadsheet as opposed to the “old style” of paper and pencil.

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Do you know where your money is going?

drew — Fri, 23 May 2008 13:36:29 +0000

Believe it or not, many consumers have no idea what they spend their money on. This is not a habit that you want to get into. In fact, you should know exactly where your money is, and where it goes each month. If you do not, you could find yourself in a situation where you are not able to save nearly as much money as you were hoping.

The question is: how are you going to successfully keep track of all your money? One of the first things that you need to do is put together a budget. This should include details on how much money you earn each month, as well as how much you spend. By doing this, you will have a concrete answer as to exactly where your funds are disappearing to.

Keep in mind that your budget can and will change over time. While your mortgage and car payment may be a fixed number, other expenses such as groceries and utility bills will fluctuate. Make sure that you leave enough money in your budget to make up for any increases that may take you by surprise.

If keeping track of your money on paper is too difficult, you may want to look into one of the many software programs that can help you. For those who do not want to spend any money, setting up a budget with a free program such as Microsoft Excel is easy enough.

The key to knowing where your money is going is to keep track of every purchase that you make. As long as you keep a close watch on your budget and balance your checkbook when you make a purchase, you should always know where your money is being spent. From there, it is much easier to save and prosper!

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