Tips to Save Big by Budgeting Wisely

Saving money has become even more important due to the stalling economy and uncertain times ahead. Budgeting wisely actually is not too difficult, the most important thing to remember is to start now. Once learned, habits should be formed pretty quickly allowing people to budget wisely without even trying. It is really a lifestyle change, just like any diet or exercise program. Here are some general tips to budget wisely.

Save Receipts

Saving receipts is a good idea for anyone that is budget minded. This can be done for a few months to help determine where money is going. Often times, people simply just spend and do not account for the money. You can organize the receipts into categories, such as eating out, grocery, gas and so on.


Being organized is very helpful, this can be an excel sheet, or just written down. What should be written out is monthly income after taxes, then on another column all the expenses. So of them can be estimated such as food or gas. After a few months, you can go back and put the truer numbers in from receipts and credit card statements. There will also be fixed costs entered, such as insurance, cable bill, and rent or mortgage payment. With one column having expenses, and the other having income, it should be easy to see how much can be saved, if any.

Put off Spending

It is a great idea when contemplating a big purchase, say 100 dollars or more. To think about it for a few days, this can help avoid impulse purchases. Not only will this save money, but it can keep the house clutter free. Many purchases made on impulse are regretted within days. Then, if after a few days, you still want the item, you can buy it knowing you truly want it.

Eat at Home

Eating at home can be a huge way to stretch your dollar, not only can it be healthier, but done right it can taste much better. Eating out, can be very expensive, this is especially true for families. Eating at home can be a great way for people to bond, whether it is a couple or a family with kids.

Make it Automatic

Setting up your bank account to have automatic deposits to savings can help you save without thinking. Most companies allow a check to be deposited into two accounts. Putting 100 dollars a paycheck into savings will help because you will never miss it in the first place as you are used to spending less.

Still Splurge

One thing about life – it is meant to be enjoyed. So splurge every once in a while. This can help you from deviating away from your original plan. The same way dieters have a cheat meal, you should have an excuse to splurge every once in a while. Otherwise you’ll eventually burn out and you’ll risk blowing it all.

A good budget plan will be one that you do not have to think about. One that will be done with ease. This can be accomplished with just these few simple steps. In reality, building savings is pretty easy once started. Just remember to stay organized and disciplined.

Brittany Last writes about financial and investment tips at

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