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The economy
today has caused a lot of individuals to be more conscious of their spending
and their savings. Jobs are not as secure as they once were. In today’s society
it is important to know how much income one is making a month, but it is
equally important to know how much they are spending each month. Everyday
living expenses can be high sometimes your monthly check is not enough to your

Here are some tips on monthly
budgeting to stretch your income further.

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Tip #1 Create Budget

The first
step you must take is to create budget. By creating a budget you have a written
record of all your expenses. This written record will help you to make scale of
preference about things you can afford and things you could do not need. A
budget can also help identify areas of your life where you are spending too much
funds and highlight ways in which you can be prudent with spending.


Don’t feel
baffle about creating a budget. Set time aside to look at all your expenditure.
You could start off by looking at what you critically spend in a week. When you
have done this you have taken a great step to budgeting and saving money.

Once you
have recorded your weekly outgoings you can start making more detailed
documentation about what you buy. You can begin to keep a journal to document
everything in. Once you have built up a picture of items you buy, there may be
some items you do not need. As part of deciding how much money you have to
spend you need to record how much you earn. Write down in the budget what you
earn each month.

Tip#2 Select produce that is in

It is
observed that sometimes when you buy berries it’s more expensive than it was
when you purchased them a few months earlier? That’s because it is always
cheapest to purchase your produce during their seasons. Another great way to
get good deals on seasonal produce is through your local farmer’s market. Your
local farmer’s market will have a lot of great seasonal produce option from at
a reasonable price, plus you are helping out local farmers in your area. Check
your local paper for the location of your town’s farmer’s market.

TIP #3 Create a financial Pillow

These days, dismissal
are widespread and even people who thought they had a constant job are
receiving termination sack or having their hours at work reduced. Most
financial expert’s advice having three to eight months of expenses socked away
in a safe, high-interest savings account or in a certificate of deposit.  Most people don’t have the discipline or
potential to save up that much money right away, but you can start setting
aside money every month until you have saved up that much.

TIP#4 Self-discipline: No Excuse

Until you
have establish a decent financial rest, you need to be willing to forgo some
luxuries. Restaurants, vacations, Movies, shopping sprees, expensive salons,
even a gym membership…those are luxuries compared to the ability to pay your
rent and buy groceries. Spending money on luxuries now is stealing from your
future saving, if you don’t have money set aside.

TIP# 4 Contingency Plan

Creating an
alternative income before it is needed can improve your speed as you move
toward finical emergency safety. Consider getting a second job until you have
enough fund to put away. This isn’t forever; it’s just until you gain financial
freedom. Also, if you are worried about job security, take steps now. Take
night classes, get new certifications, network with people in your field, and
generally make sure that you are prepared for today’s job market if you end up
being retrench.

These steps
do require some sacrifice of time and self-discipline, but if you take these
steps now, you’ll sleep more soundly knowing that you won’t have to worry when a
financial emergency anytime.

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