No shying away from it: times are tough. The markets are just recovering from a major economic slump; jobs aren’t easy to come by; and money’s on the ebb. Budgets are tight? So how do you live? Here are top 10 tips for living on a tight budget to help you out in these times of economic crisis.
Create a budget
All right, there’s not much to go around, but at knowing what you have, and then allocating it to specific accounts gives you a sense of direction and priorities. Creating and maintaining a budget is the first and most essential step towards living on a tight budget.
Live on basics
There’re things you think you can’t do without, and there’re things you really can’t do without. List out the most essential, basic things you need and chuck out the rest. Club or pub memberships are not priorities just now!
Look for freebies
Check the newspapers at your neighborhood library or on the Internet, and you’ll be amazed at the number of “free” things that are available every day all around you. Given, a lot of that stuff is not exactly what you need, but you can always trade them for something you need at your local store or among your friends. This way, you also won’t have to borrow or ask for favors.
Why drive when you can walk?
Running a car takes gas, and gas costs a lot. So even if the car’s your home, walk when you have to go some place nearby, or ride your bicycle. Worst case, take the bus or the train. You’ll be amazed at the amount of money you end up saving every month just by leaving your car back home!
You can make coffee at home
If you actually took a tally, you’ll find that you’re actually spending thousands of dollars a year drinking what you think is “inexpensive” coffee. If at all you must have coffee, why not make it at home? It’s so much cheaper!
Ditch that cable TV
There are tens of free to air channels on TV. Cable costs you a ton, plus gives you temptations to buy a lot of stuff you don’t need. Ditch the cable. You’ll get by without it.
Sell what you don’t need
There must be plenty of things you don’t really need around you – that music box, those old guitars, even your car. Sell whatever is not essential. You can always buy it later.
Look for a better job
Jobs may be hard to find but they’re out there. There’re plenty of agents or “job consultants” who’ll find you something. Or, if you have a job that doesn’t pay well, get out now and find better work, but don’t quit your current job before you find a better one!
Take up a part-time job
Yes, there are plenty of part time jobs that you can do, like article writing or snow shoveling. Just check around, and you’ll find one soon enough.
Really in a crunch? Seek help
Out of options, in a real hole? Holler, scream, seek help. Accredited Debt Relief company information can be helpful in giving you guidance. But on no account take on anything you can’t swallow – like a large loan against your house, for instance.
These are a few ways you can minimize your outgo, and increase your income. Hope these top 10 tips for living on a tight budget help you through your times of economic crisis!