Budget Tips & Budget Ideas

Set aside money each month for bills that aren't due each month. When these quarterly, semi-annual and annual bills come due you will have the money to pay them. Put this money in a savings account and earn interest while you are waiting for the bill to come due.

When eating out, choose a less expensive restaurant. If you normally spend fifty dollars, spend only twenty five dollars and save the other twenty five.

Swap babysitting with a relative or friend that you can really trust. Do your shopping and errands without the kids.

Use coupons at the grocery store. Before leaving home, write your shopping list on a envelope and put the coupons you will use inside.

If you get off of your budget, get back on track as soon as possible. Don't give up!

Write down all of your expenses and all of your income. Compare the two lists. Be realistic so you can accomplish your goals.

Keep any paper that is written on only one side. Cut it into squares and use as scrap paper or paper for writing down messages.(this works great with junk mail!)
Submitted by Anya W.

Always rinse your shampoo, dish washing detergent, laundry detergent bottles, etc. out before throwing them away. You would be surprised at how many times you can get at least one or two more uses from them.
Submitted by Kelly B.

Save grocery store plastic bags to use in your bathroom garbage cans.
Submitted by Sunshine E.

Cut coupons from everywhere - then organize them and use in double-coupon stores with your store's savings club card. The savings add up!
Submitted by Katherine Anne C.

Instead of buying a rinse agent for your dishwasher, use vinegar in it's place. Your dishes will sparkle.

Create a savings account for an emergency fund. The account should equal three to six months of your budget expenses.

Buy Christmas items, wrapping paper, bows, lights, trees, ect. right after Christmas and save it until next year.

I don't know about the USA, but in Canada there is a difference between the bank act and the insurance act. Under the bank act your principal is not protected for Mutual Funds (they can lose it all), however under the Insurance Act they must guarantee 75% of your principal. For those building a nest egg this was very surprising to me and changed my savings outlook entirely.
Submitted by Greta B.

Try and save for retirement years - they come before you know it!
Submitted by Donna A.

When buying prescriptions ask for a generic brand.

Buy everything on sale. The end of the season is a great time to buy seasonal items for the next year. Stock up when items are on sale.

Put money to your savings account first, before you pay any bills.

Make your grocery shopping list at home and stick to it. Never go grocery shopping when you are hungry.

Keep your budget simple and set goals that you can live with. If you make your budget to strict, you may find it hard to live with.

Use a soaker hose in the summer to water your garden or flowers. The water will go directly in the ground and not in the air, therefore you'll use less water.

Give new life to old jeans by washing them with new jeans. The dye running out of the new pants will go into the old pair.

Plan ahead and buy gifts on sale throughout the year.

Recycle the front of greeting cards into postcards. Write your message on the left side, draw a vertical line down the middle and address on the right side.

Use direct deposit if your employer and bank have direct deposit available. Have a certain amount each pay day go directly into your savings account.

Pay off high credit card debt before putting money into a savings account. Start with the credit card with the highest interest rate.

When getting a loan, shop around for the best rates. This is especially important when the loan is a mortgage.

The liner of cereal boxes are great storage bags for food or whatever. I save all of mine and rarely need to buy bags.
Submitted by Susan F.

DON'T buy dryer sheets!! In a gallon glass jug with a lid put 1/4 cup softener liquid then fill jug to top with water. Cut up a sponge in 1/3s, cotton ones are better! Every time you put a load in the dryer; take out a sponge, wring it out and throw it in the dryer with your load. When you empty the dryer, put the sponge back in the jug of softener for the next load!!
Submitted by C. English.

When paying on credit cards, determine your priorities according to creditor by deciding who needs to be paid first. Your first priority should be credit cards with the highest interest rate.

To save on your flavored coffee, only add 1 scoop to your regular coffee before dripping. The flavor is great plus makes your coffee last a lot longer!
Submitted by Jeannie S.

When you want to splurge for your favorite restaurant, go for lunch. The lunch menu is less expensive than dinner.

Make a price book to carry to the grocery store. In your price book write down the lowest price for items you usually buy. Only buy when the price is the lowest.

When making a major purchase, let your fingers do the shopping. Use the telephone to check prices.

Use a separate checking account for your deductible expenses. When tax time comes, you'll have your deductions ready.

Check out estate sales for great bargains. Many wonderful items can be found at estate and garage sales.

When on a tight budget, always make a list before going shopping. Get only what is on your list.

When your goals change, you need to re-evaluate your budget. Your budget needs to change to match your new goals.

Start thinking about Christmas gifts now. Buy gifts when they are on sale and wrap each one as you buy them.

Create a financial plan for the academic school year. Write down the budget you create. Decide how much money you can spend each day and take it one day at a time.
Decide what your "wants" and "needs" are. Place your "needs" in your budget first. The "wants" should go in the "what's left over" category.

Shop around when buying insurance. Different companies have different prices, make sure you get the best!

The best time to shop for new cars is in late August when the new models are arriving. This is the time to make a deal!

Begin each week with a predetermined amount of money. At the end of the week, subtract the amount you have left from your beginning amount and you will know how much you have spent.

Spread your holiday shopping and spending throughout the year. You can take advantage of sales and avoid overextending yourself.

The easiest way to save money is to use payroll deductions or automatic withdrawals so that part of every paycheck goes into savings.

Need a place to hide money? Use a mayonnaise jar and paint it white on the inside. Keep it in the refrigerator or pantry to hide your money or valuables.

To save money on groceries, always plan and make a list. Look for sales on the items you usually buy and use coupons for items you usually buy. If you have the space, shop at a warehouse club.

Most Dry Clean Only clothes can be hand washed and hung dry. This will save enough to buy new clothes!
Submitted by Kim C.

Tax season is upon us again. Remember to double check your figures and sign and date the return before sending it on or before April 15th.

When you need a loan, be sure to shop around. The interest rate you get will change the amount you have to repay.

It is time to cut up your credit cards when they are regularly at their credit limit, you can barely pay your minimum monthly balance, you are spending 20% or more of your take home pay on your credit cards, you pay off other debts with your credit cards, you're using your credit cards for regular household expenses.

Be content with what you have. Most of us spend more than we should because we live beyond our means. Don't define yourself by your possessions. Rather than concentrating on what you don't have, you should think more about what you do have.