How to Make a Frugal Budget
Creating a weekly or monthly budget is essentially ensuring that you have enough cash to meet your everyday needs. But if you want to maximize your savings, making a frugal budget can help you spend less and save more. Being frugal may call for certain sacrifices, especially if you're accustomed to freely spending your cash.
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Instructions
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Check income statements to see how much money you have each week or month.
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Calculate present household expenses to determine recurring monthly costs. Include your mortgage or rent, utilities, loan payments, minimum debt payments, food costs and other monthly expenses in this figure.
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Lower your food costs to stay within your budget and increase disposable cash. Take advantage of coupons to save on groceries. Shop on double coupons days at your local grocery store. Buy generic, and only buy items that you need. Shop alone if possible to avoid buying extras and overspending.
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Get rid of unnecessary monthly expenditures. Avoid going over-budget and practice frugality by eliminating needless monthly costs. For example, cancel your house telephone service and rely on your cell phone. Downgrade your cable service. Do your own lawn and cancel your weekly service.
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Evaluate your entertainment and recreation budget. Spending too much cash on fun activities or dining out can get you off track. Stay on budget by spending less on eating out, going to the movies or participating in other costly activities. Check your local paper for free entertainment or enjoy inexpensive activities such as going to a state park, the beach or a free festival. Rather than eat out three or four times a week, cut back to once a week.
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Save money on transportation costs. Even if you have a vehicle, take advantage of public transportation or car pool a few days a week to save on fuel costs.
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References
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