Budgeting can be daunting for some people. We’re going to discuss three changes that can make a large impact on your monthly budget.
When it comes to managing and changing things in your budget, there are basically two
ways to change them. One is to increase your income and two is to decrease your
expenses.
Most people feel the most pain when they’re trying to change the expense side of the
equation but there are three simple things you can do that won’t have a significant
impact on your lifestyle but can have a significant impact on your bottom line.
#1 – Cut the cord
What cutting the cord means is that instead of using cable or satellite services for your television entertainment that you use services that come through the internet and that you stream. There are upfront costs for those which means you have to buy a streaming service, the monthly service itself, as well as the devices that you need that allow the streaming to take place on your television. However, the monthly services themselves are significantly cheaper than most of the satellite and cable services are for the same amount of channels.
2# – Dine in More, Dine Out Less
The second way to change your budget without feeling a lot of impact to your lifestyle
would be to change from eating out often to cooking at home more. Usually it’s
healthier for you to eat at home instead of eating out. It also impacts your budget by
increasing your food costs two to three times when you eat out as opposed to cooking
at home.
3# – Store Brand is Essentially the Same as Brand Name
The third change you can make that goes along with eating at home is buying store
brand foods as opposed to name brand foods. Typically, the quality is the same for both
types of products. However, the name brand items cost more because those companies
spend a lot more to market their products to you and they pass that cost onto you, the
consumer. So by buying name brand products, you spend more money for the same
thing.
By cutting the cord, eating at home as opposed to eating out, and buying store brand
products as opposed to name brand products, you can live the same lifestyle but spend
a lot less money per month.
If you have any other questions or suggestions, contact me by sending an email to [email protected]