Tag: budgeting

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Mastering Your Budget: Essential Tips for Financial Health

L.M. Hosler

I called and interviewed my friend over the phone.

My friend is a very busy person, involved with her church and various other organizations. She has been the treasurer of one or more of those organizations. She also volunteers to teach others responsible money management.

Q: What do you think is the most important part of people handling their finances?

A: Starting with a good budget. People should start by having a budget that covers their basic needs. Housing, food, utilities are basic needs.

Q: Where do you start with a budget?

A: Start with basic needs. Then, create an emergency fund. Put in enough money to cover living expenses for three months.

Q: What about money for fun and entertainment?

A: After the emergency fund has been fully funded, then you can put money aside for other purposes. Vacations, eating out, movies, whatever it is that you want to do for fun.

Q: What are some things that should be cut out of anyone’s budget or at least reduced.

A: Well most people don’t like to hear this but there are many expenses that can be reduced. Things like cigarettes, tattoos, alcohol are a few things that are not necessary for survival.

Q: What success have people had after listening to your advice.

A: Quite a few people have come back to me. They thanked me for helping them get their finances in order. One couple finally managed to buy an older home of their own which was their main goal.

Q: Any final words of advice for those having financial difficulties.

A: Get started as soon as possible to take control of your finances and life will be much better. Pay yourself first by saving even a little bit every week. Trust in God and faith are also important.

Daily writing prompt
Interview someone — a friend, another blogger, your mother, the mailman — and write a post based on their responses.
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How Smart Spending Can Beat Financial Struggles

L.M. Hosler

Many Americans have been struggling financially for the last four years. For some, it’s been a lifetime struggle. So what are your options and do you even have any options. What can you do to make your income stretch further?

How You Spend Your Money Matters

Does this sound like what you are dealing with every week? Payday is a day away. You have a dollar or so in your pocket. That’s if you are lucky. Now you find the milk is gone. The car is running on gas fumes. You still have to make it to work. You are in a tight spot now. Sadly, this happens to you every week. The paycheck just doesn’t reach the end of the week for you. How stressful this can be for anyone of us. Many of us have experienced this at one time or another. Maybe it is time to consider making some changes in your earnings and your spending. If you are truly tired of living from paycheck to paycheck, it may be time. Explore better ways to manage your money. Focus on improving how you handle spending.

Spending and Saving

Before you start looking for a second job, examine your spending habits. See if you can cut expenses enough each week. This way, you will not have to go searching for part-time work or other income.

Strategies To Get You Started

  1. Cutting back on your gas expenses by staying home more, walking, riding your bike, carpooling or taking a bus if that is an option
  2. Check around for car insurance to see who offers the best coverage for the lower price
  3. Clipping coupons can slash the grocery bill to save quite a tidy sum of money. When using coupons, be sure you are going to use the items. Also, check to see if the store brand is cheaper. Sometimes the coupons on name brands ends up costing you more than buying the store brand. Clipping coupons also takes time & organization. But they can save you money if you shop carefully. Check the sales and if an item is on sale then using a coupon can help bring the price down
  4. If you eat out a lot, it is time to start cooking at home more to save on expenses. Learning to cook good cheap nurturing meals will save you money and nurture your body. Buy some cookbooks and have fun experimenting with new recipes
  5. Use left over meats in pot of soup. Soups with a side of bread can make a lot of meals
  6. If you are a smoker, decrease your daily smoking or roll your own cigarettes. Or better yet, throw those cigarettes away for good
  7. Check out your library for entertainment. Most libraries offer quite a few services such as renting or borrowing books and DVD movies.

Ask yourself if it is something that you really need. Is it worth struggling through the rest of the week? Consider whether you will have enough money to last the whole week. These are a few ideas to reduce expenses. By the end of the week, you may have an extra dollar or two in your wallet. Most of us have some areas where we can cut down on expenses. You will feel less stressed as the week goes by. You will know that you have enough money in your pocket to last all week.