Creating a Budget You Can Count On: Part 2

Continuing from part one, here are a few more tips on helping you create a budget you can count on. Remember, you can live off of any budget. It doesn’t matter what level of income you are raking in, you can find a way to make it happen. You just have to live within your means.

Subtract your wants
Your wants include everything else that eats away at your baseline that you really could live without. You can live without a car, cable connection, or phone line.

A car can seem necessary because it gets you to work or the store, but in reality, it can cost you hundreds of dollars a month in gas and insurance. Removing a car from the equation and jumping on public transportation will save you a lot in the end.

A TV works the same. Cable subscriptions are expensive. Get out and enjoy the outdoors with your families instead of plopping in front of the tube. You’ll make meaningful memories while saving money. Identify all the expenses that aren’t necessary and minimize them as long as they don’t fit within the budget.

Phone lines are incredibly useful, but more expensive than they are worth. If you need a phone, you don’t have to go the traditional route. Some phone companies offer you prepaid plans so you can budget a set amount per month without the risk of going over on minutes. Once your budget is used, the phone will not let you make a call or send a text. If you need to make a call outside these minutes, consider asking a trusted friend or family member if you can use theirs. Civility calls for moderation when doing this though, don’t abuse your privileges otherwise you’ll risk not being able to use their phone when you need it.

Save and don’t withdraw
Save as much money as you can afford and refuse to take money from that part of the budget. Build up a savings account that can truly help you for a rainy day and it’ll be there for the true emergencies.
Take careful consideration when making your budget. These steps will help you create one that you can live under. It might not let you be as comfortable as you you’d like to be, but you’ll be stable. Isn’t that more important in the long run? Maybe your innovative use of your assets will help you to find a way to better your circumstances in the future.

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