How to Save on a Household Budget

Saving on a household budget can be challenging, but it is not impossible. It takes planning and determination to stay on track, especially when you tire of counting pennies. You might want to set a reasonable goal for yourself, complete with a reward: If you cut your spending by 10 percent, you will treat yourself to a nice restaurant dinner. The key is to get into the habit of saving money, because the more you do it, the easier it becomes.

Instructions

Recordkeeping

1. Use a spreadsheet to keep track of your spending every month. Put items into categories, and make a note of the date and the store. This helps you get a handle on what and how you spend, and it helps you compare costs from store to store.

2. Check for sales. When you see an item on sale, you can check your spreadsheet to see how much less the sale price is than the price you usually pay. If it is a very good deal, stock up. Similarly, see how the prices of store brands and generics compare with the prices of brands you usually buy. If there is significant saving, consider a switch.

3. 

   Cut out fast food and cook at home; it not only saves money, but it is healthier. Spread out your meat: Use a pound of hamburger to make chili rather than hamburger patties, and use leftovers. Check out cookbooks and online recipes for ways to spread your food dollar and perk up your menu. Clip coupons, and get a preferred customer card at every supermarket you visit.

4. 

   Check second-hand clothing shops, especially for clothes you won't wear often or kids' clothes, which will be outgrown quickly. There are lots of shops offering stylish, gently used clothes. You also can look in second-hand shops for furnishings.

5. Make yourself take time to think about purchases, especially larger purchases. Before you buy a new purse or a new couch, wait at least 24 hours. You might find that you don't want it as badly when a day has passed.

6. Save on entertainment costs. See a movie at the cheaper afternoon showing, or better yet, rent a movie and make your own popcorn at home. Have family game night. Make pizza together.

7. After a month on your new budget, compare your spreadsheet totals to the spending before you began to budget. You might be surprised at how much you save with relatively little effort. And you probably will be inspired to save even more.

References

• Essortment: Household Budget Tips
• Swartzcpa: Household Budgeting