Ways to Set a Budget to Save Money

Ways to set up a Budget to Save Money: Know ahead of time if you can go out to dinner.

If you are living day to day and spending money without keeping track of it, before you know it, your wallet is empty. Even daily or weekly essentials can eat up your cash.

Examples:
Monday: Fill up your gas tank, buy a soda and sandwich.

Tuesday: Stop in the grocery store for a quick dinner. Pick up a boxed chicken dinner, potatoes and cole slaw. Grab a six pack of soda.

Wednesday: Go out for lunch with your co-workers. After work stop for an ice cream cone at the Ice Cream Shop.

Thursday: Buy yourself and a few co-workers a cup of coffee to treat them. Stop at the gas station and fill up your tank again. Buy a few lottery tickets to take your chance, another six pack of soda and a few candy bars.

Friday: Who cooks on Fridays? Stop for Chinese dinner to unwind after a hard week’s work. Take in some clothes shopping or window shopping that turns out to be a spending spree.

Maybe these are some of the things you do or maybe you have other habits that slowly eat your cash up. Before you know it on Saturday you are broke. If you get paid bi-weekly or monthly, this is not a good thing.

First and foremost paying your bills on time is the number one priority. Ways to set up a budget include setting money aside to pay your bills. Keep your credit score excellent. Once the bills are paid off, set money aside for gas and food. Shop for items on sale and get coupons online. The rest of the money set for fun things. Put this money in an envelop. Once that money is gone, you know you cannot afford to stop at the gas station or store for that extra soda, go out to lunch or dinner, freely spend money on clothing, etc.

If you are able, it would be wise to keep a portion of your check to invest in your future. You will need the money for retirement so you can live a comfortable life in your golden years.

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