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Budgeting
Tips-Life After Bankruptcy
Tips and Techniques For Successful
Budgeting
Housing
- Learn to do simple repairs.
- Do your own decorating.
- Do your own painting.
- Turn down the furnace to lower the temperature at night.
- Save newspapers, glass and cans for recycling.
- Plan meals to use a minimum of food.
- Shut of lights, computers and TVs when not in use.
- Carry only replacement value insurance on house.
- Conserve water.
- Make only emergency long distance calls.
- Stand up when talking long distance or use a timer.
- Write letters or use email.
- Give up all unnecessary services on your telephone (i.e. call waiting).
- Improvise furniture, shop the paper or garage sales.
- Use worn out towels to make wash cloths.
- Use glass instead of paper cups.
- Make your own cleaning supplies.
- Use washable dust and dish rags.
- Equip the house with storm windows and doors, if possible.
Food
- Pack a Lunch - "Brown Bag" as often as possible ($5.00 a day
saves $25.00 a week: $100.00 a month)
- Cut down on meals away from home.
- Avoid the morning cup of coffee at the coffee shop or gas station (this
expense really can add up!)
- Consider generic or bulk foods.
- Take advantage of seasonal specials, especially fresh produce.
- Do more cooking from scratch.
- Use crock-pot methods to cook less tender cuts of meat.
- If storage permits, buy in quantity if cheaper.
- Preserve food when feasible.
- Grow a garden.
- Stretch hamburger with bread crumbs, oatmeal, or tomato sauce.
- Avoid buying snack or "empty calorie" foods.
- Use equally nutritious reconstituted dry or evaporated milk, for cooking
instead of more expensive whole milk.
- If space permits, store products in freezer to prevent spoilage.
- Cook only as much as will be eaten unless it can be a part of another
meal.
- Use leftovers in soups and casseroles.
- Limit food shopping to once a week; the less trips to the grocery store
the better.
- Plan menus in advance for your shopping trips.
- Use coupons for items, you regularly buy.
- Make a grocery list, and use it!
Transportation
- The best car is one that is PAID FOR!
- If the car is paid for, you don't have to have full coverage insurance,
just PLPD
- Use public transportation.
- Get rid of one car.
- Consider moving closer to work.
- Drive small cars that cost less to operate.
- Do your own maintenance (change the oil yourself).
- Car pool.
Clothing
- Sew as much as practical, repair, remodel.
- Buy clothing that is washable.
- Carefully coordinate.
- Launder carefully.
- Hang on clothesline to dry instead of using a dryer.
- Organize laundry so that a minimum number of loads are run.
- Use detergent that works well in cool and warm water.
- Mend clothes promptly.
- Have children change to old clothes for rough play.
- Do not buy clothes that require dry cleaning.
- Buy clothing that does not need ironing.
Health and Medical
- Service nutritious meals.
- Follow safety rules to prevent accidents.
- Have regular check-ups.
- Carry only one health and accident insurance.
- Investigate services offered by the health department.
- Use immunization clinics.
- Develop good health habits.
- Stop using tobacco, alcohol and/or addictive drugs.
- Learn to take temperature, pulse and respiration.
- Learn about symptoms of common diseases in order to determine if seeing a
doctor is advisable
Education
- Use the public library for reading materials.
- Subscribe to only one newspaper, or none at all (find one in the lunch
room).
- Cut out subscriptions to magazines that entertain only.
- Study to improve your qualifications for the job you hold.
Employment
- Develop skills to enhance your position.
- Make your position more secure by being a valuable employee.
- Use washable uniforms.
- Share transportation.
- Let your boss know you are interested in additional training.
Child Care
- Investigate government or church operated nursery.
- schools that are operated for children of low income families.
- Share child care responsibilities with a friend or neighbor (or spouse).
Gifts and Donations
- Carefully consider each situation and cut out all monetary giving that you
possibly can.
- Make gifts instead of buying them.
- Give or your time instead of your money.
Recreation and Entertainment
- Do family things together that are in inexpensive.
- Consider the costs or habits such as smoking.
- Attend high school and sports events instead of more expensive college and
pro events.
- Have potluck affairs at home.
- Take vacations at home.
- Use public parks and picnic areas.
- Eliminate cable TV.
Personal
- Select cosmetics that are reasonably priced.
- Do your own shampoos, sets and blow dries.
- Cut children's hair yourself.
- Set reasonable amounts for children's allowances and have a definite
understanding of what the amount is to cover.
- Carry only pocket change needed for bus fare and small items.
Savings
- Determine your saving goals.
- Be willing to compromise.
- Use payroll deductions for savings.
- Save bonus income.
- Keep your loose change for savings.
- Save on a regular basis: pay yourself first.
- Alter your spending habits
- Use savings for emergencies only.
- Make saving a family affair.
- Put your budget on a diet!
Miscellaneous
- Have a qualified attorney evaluate alimony or child support payments.
- Consider all costs to determine if family really profits from two incomes
(i.e. is daycare actually eating up the entire second income?)
- Reduce pet care expenses by doing your own grooming.
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