Staying within your budget

budgeting, saving, staying within your budget

Transcript

1. www.lifethenfinance.com Staying Within Your Budget
3. www.lifethenfinance.com The best budget is the one that works for you!
4. www.lifethenfinance.com Making Your Budget Workable •  Don`t be afraid to adjust your budgeted amounts for your expenses as necessary. •  Seek ways to trim your variable expenses. •  If you have trouble keeping track of your expenses, simplify your life by using The Envelope Method.
5. www.lifethenfinance.com The Envelope Method •  The Envelope Method is an easy 3-step process that makes keeping track of your expenses a cinch. •  Use cash for all expenses. If you need to pay a bill from your checking account, then deposit the cash to cover the charge. •  Here is the process, step by step:
6. www.lifethenfinance.com Step 1: Divide and Conquer Cash Your Paycheck Envelope 1 Groceries Envelope 3 Gas Envelope 2 Clothing Envelopes 4+ Make an envelope for each expense in your budget. Put in the cash to cover that expense.
7. www.lifethenfinance.com Step 2: Use Cash for Your Expenses Envelope 1 Groceries ONLY Groceries Envelope 2 Clothing Money ONLY Clothing Envelope 3 Gas ONLY Gas
8. www.lifethenfinance.com Step 3: Effortlessly Limit Daily Spending •  Make a daily lSpending Moneyz envelope. •  Use for: Lunch, parking, and more. •  When it`s gone… Stop spending! Tip:Spend it wisely!
9. www.lifethenfinance.com The Envelope Method also gives you a better sense of your money!
10. www.lifethenfinance.com Still Having Budget Challenges? You have 2 options: •  Make more money •  Reduce the amount that you spend
11. www.lifethenfinance.com Reducing the Amount You Spend •  Reduce your cable plan •  Change to less expensive phone plan •  Find a home that costs less Tip: It’s easier to make cuts in your variable expenses.
12. www.lifethenfinance.com Energy Savings •  Turn off lights when you leave the room. •  Switch to more energy efficient light bulbs. •  Unplug your electronic devices when they aren`t being used.
13. www.lifethenfinance.com A trip to the grocery store is one of the best places to save money!
14. www.lifethenfinance.com Sales Food Savings
15. www.lifethenfinance.com If you buy a product on a regular basis, you might as well take advantage of the discounted price! Food Savings
16. www.lifethenfinance.com Planning your weekly menu around what`s on sale at the grocery store that week Significant Savings Food Savings
17. www.lifethenfinance.com Savings Card Programs Food Savings
18. www.lifethenfinance.com Savings Card Programs give you a wider range of discounts to take advantage of! Food Savings
19. www.lifethenfinance.com Some stores may have a blanket discount for members,such as 10% off the total bill. Food Savings
20. www.lifethenfinance.com Coupons Food Savings
21. www.lifethenfinance.com Coupons are your most potent weapon against the grocery bill! With coupons, you can turn a $200 grocery bill into a tiny fraction of the cost! Food Savings
22. www.lifethenfinance.com Stockpiling Food Savings
23. www.lifethenfinance.com When used in moderation, buying in bulk can be a great way to save money! Food Savings
24. www.lifethenfinance.com Tips for Buying in Bulk •  Don`t get carried away! Expiration dates still apply. •  Fewer trips to the grocery store save you time, money, and gas. •  Divide purchases among friends.
25. www.lifethenfinance.com Self-Reflection Questions: •  How can I reduce the amount of energy I use? •  Do my favorite stores offer deals, discounts, or additional savings on top of coupons? •  Do I take advantage of the benefits of buying in bulk?
26. www.lifethenfinance.com Action Tips: •  Reduce your energy use as much as possible. •  Sign up for Savings Card Programs. •  Find coupons for the items you buy all the time.