How to Life on a Limited Income

With the economy the way it is today, it is very important to spend wisely.

Difficulty: Moderate

Instructions

1. You need to determine your priorities; car payments, house payment/rent, car repairs, food, utilities, car insurance and savings.
   It is surprising what you may be spending on non essentials. If you keep a diary of your spending, you can keep track of these; I have and discovered over the last month I spent over $274 on non essential. I will be thinking before I buy now, Do I need this, is it necessary?

2. Ways to save;
   stop buying on credit cards or limited credit card purchases, especially if you only make the minimum payments
   determine if you should rent or buy a home; you usually can save more buying
   reduce car insurance premiums;if you can move closer to where you work or go to school, raise deductibles on your comprehensive and collision
   insurance, eliminate unnecessary insurances, compare coverages with other companies

3. you can cut down eating out or go to less expensive restaurants or eat out less often
   reduce the costs of giving gifts
   save on the cost of food; plant a garden or green house, buy in bulk and freeze it
   save on the cost of burial and cremation; you can arrange with many funeral parlors to arrange your own funeral and pay in advance

Tips & Warnings

• You can save money if you take the time to think of what you can do without. If you like to read, go to the library and borrow a book instead of buying it. It does not cost you to join a library but it does to buy a book. If you buy recycled products you are helping the environment and saving yourself money due to recycled costs less.