Go On, Take Another Look At Your Budget

Tuesday, May 7, 2019

Most of us, even if we’re earning a fair amount each month, think that all we seemingly do is pay for things and get on top of our bills. When you think about it, that can be relatively true. But the feeling of being ‘cash strapped,’ while it might not seem so, is often the case from those in the working class to those in higher income brackets. This is because when we earn a certain amount, we tailor our surroundings to match, and our quality of life raises or falls as a result.

Most of us keep a budget each month. This budget helps us keep our earnings in check, and can give us that sense of security. It’s important to stay prudent with your financial matters, because then you know exactly if your living standards are better or worse than what you can support. But even with the tightest budget, you may be able to squeeze out some value. Go on, take another look with some of our helpful advice in mind. You might be surprised as to what you can achieve.

Small Expenses
It’s only when we manage to consider the smallest expenses we might make every day, and factor those into our working budget too, that we understand just how much we could save. Let’s say that each morning, we spend $5 in Starbucks just to wake up. While you might have a ‘free allowance’ calculated after listing your income and monthly expenditures, this might simply be considered the cost of personal living, and you may not have included it. However, $5 every morning and potentially one at lunch might roughly be $35 each week you spend on coffee. Multiply that by four weeks and that’s $140. If you work roughly 10 months a year, that’s $1400 out of your yearly budget simply for coffee. The small expenses add up, and for that price you could purchase a fantastic coffee machine to keep you going for years, arguably with a better taste and cheaper output. The small expenses matter.

Awesome Savings
Even if you think you’ve saved to the point where you could possibly save no more, there will always be something out there to disprove that notion. It could be that using a Noon coupon code could be your next measure of saving money on time-valuable needs. It could be that shopping in the clearance rack from time to time for small things, such as pajama t-shirts, could help you avoid wasting money. Trading in an old phone before you purchase a new handset outright could shave off several hundred dollars from your final bill. Always be on the lookout for a saving, because you never know how well they might work.

Time & Money
It might also be prudent to consider how much time in your day is spent earning your income. Perhaps you only work a part-time job’s worth of hours right now, and you think you could potentially get a night job now that your schooling is over. Considering time as a valuable commodity could help you structure your budget and gain better financial standing.

With these tips, you’re certain to optimize your budget well.

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