The average American spends nearly $4000.00 a year on groceries making it one of the biggest expenditures after mortgages and energy bills. Is it any wonder then that most people are constantly searching for new and better ways to save money when they go grocery shopping? Apps to track coupons, coupons themselves, in-store savings and frequent shopper discounts are great, don’t get us wrong, but there are several accepted ideas out there that, while they sound good, might not be saving you as much as you think on your weekly grocery bill.… Read the rest
Welcome back for Part 2. We have a lot of ground to cover so let’s get right to it!
In Part 1 we talked about setting up your categories and then figuring out your budget amounts. Now we’re going to talk about recording all of your expenses, setting your spending goals and how to make adjustments to your budget when necessary.
Step 3) Recording all of your expenses. This is the relatively easy part. Over the next month you need to make a note of every single expense that you have, especially the cash expenses. The best thing to do is either have an App that can record them for you or go old-school and use a small notebook to jot them down.… Read the rest
If you don’t have a budget it’s extremely difficult to know where you stand financially, to say the least. There are some people however who have set up budgets, which is excellent, but don’t use them as well as they could, which is less excellent. With that in mind we’ve put together a 2 Part series on creating a budget that you can work with.
By the way, the first part of working with any budget is to remember that it’s simply a tool to make you aware of where you spend your money and a guide that helps you to spend only on the things that matter most to you. … Read the rest
No one wants to feel forced into selling their home, but there are times in life where downsizing to free up some capital can be beneficial. If, for example, you have unsecured debts which are taking up too much of your monthly income and you want to pay them off more effectively, or if you children have grown up and moved away and you simply have more house than you need.
If you are thinking about downsizing, you may find that the housing market is tilted very much in favour of those in a position to buy at the moment. Restrictions in mortgage lending have put the brakes on growth in the housing market, and although there are signs of improvement, sellers are still finding it hard to shift their properties. … Read the rest
Many people have heard about budgets but don’t really know what to do to set one up, let alone use it. With that in mind we’ve put together a simple plan that will enable the layperson to do just that and have a budget that they can use to track their monthly income and expenses, lower the expenses where needed (or possible), and save more money. It’s relatively easy to do and should only take about 30 to 60 minutes. Enjoy!
- Gather up all of your bills and receipts for the month and add them up. (It’s easy but may take a little time.) The more precise approximation of your total expenses the better.