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Easy Ways to Save Money When You Are a College Student

Easy Ways to Save Money In College

Many college students, stifled with the sudden high cost of college, upon entering, have probably stopped to ask themselves, “what are some easy ways to save money as a college student”? At different times during their college years. College is all about acquiring quality education. But focusing on a degree, and the side advantages, including making new friends and enjoying the educational and social processes.

But a lack of financial “awareness” on a student’s part, can create a period of constant financial turmoil and emotional strife.

Most students entering college arrives with a dream of collegiate success. But many don’t complete their course of study due to financial hardships.

The reason for this disparity is not because few students are financially superior. But because they possess the ability to budget and save while in college.

College Can Be Both Fun and Educationally Rewarding When Done The Right Way

Earning money during college is one thing, but students can increase rainy day savings by starting a habit of focusing on easy ways to save money. Having money in your pocket feels good. And the habit of saving money gives you peace of mind and a bit of financial security.

The challenge is, of course, how to achieve the goal of saving money while in college. Well, to help college students, I’ve come up with some amazing practical ways of saving money listed below.

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Start With Budget Preparation For Easy Ways to Save Money

Most college students shun the idea of preparing a budget but believe me this is the best way of initiating your saving process. A budget is nothing but a statement showing your estimated expenditures coupled with income.

You have the freedom to go in for minute details or prepare a superficial budget based on your needs. But I advise you to prepare a detailed budget, so that leaking cash can be easily spotted.

After preparing a full-fledged budget, let us find out the ways in which cash leaking can be avoided. The main question when preparing a budget should be, “easy ways to save money on just about everything you do and delete things you don’t need to do”.

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Apply For Scholarships and Financial Aid

The first step to saving before and after entering your college life begins with applying for scholarships or financial aid. This kind of aid is generally given to two kinds of students- 1. meritorious and/or 2. needy, so if you belong to either of these categories, do apply for scholarships as it would help you save a lot of money which would otherwise come out of your personal budget.

Understand FAFSA (also known as the Free Application for Federal Student Aid) is crucial. You can download it from the government website used for getting private and government aid for college or fill it out online.

You can file your FAFSA application online as soon as it comes out, the sooner you apply, the better your financial aid. List every single college you may apply to, and the award will later be sent to the college of your choice.

Do everything you can to keep student loans to a minimum. The number one consideration when choosing a college is staying out of debt as much as possible, your college must be affordable to start.

Buying Old Books or Clothes

We live in a time where many college students are actively participating in various environmental savings activities. They believe in the concept of ‘renew, reuse and recycle’. You will be surprised to know that for college students, this can be a process for saving a lot of money.

Yes, buying old books and clothes not only allows you to save a lot of money which eventually adds up to a lot in savings. But also allows students to contribute to the environment, by saving resources and energy. Look for stores where used books and clothes are sold, and purchase those in good and usable condition.

Roommates in College May be a Good Bet

Saving money is not an easy task, it takes a lot of effort on the part of a student. But for a college student, there are plenty of answers to the question ‘how to save money’. Living in college dorms or apartments is costly, but if you find yourself a few roommates, you can avoid a lot of extra expense, and thus save money.

Do a careful analysis of the people you choose as roommates, make sure they are in college for the right reasons, and they pay their bills on time.

Affordable Transportation Options

College campuses are scattered over large areas. Because of this, having a vehicle becomes a necessity when you must move from one place to another on campus. Some campuses are huge with several acres. But who said that only a motorcycle or a  car can solve your problem if saving money is your target then go for a bicycle or bus.

A used bicycle is easily available from any shop near a college. So take advantage of this healthy transportation option and save on your fuel and repair expenses. Create ride share teams with other students when you must take a car, and use public transportation to get to and from school when it is available.

Save Money When You Are a College StudentFree printables for small business and personal use at MsFinancialSavvy; Daily Action Form, Budgeting Form, and Savings Form

A Part-Time Job

The task of saving money can be eased by taking up a part-time job on your college campus or any store nearby college where you shop. By taking a part-time job on your college premises or nearby, you can pay minor expenses such as gas or food.

If you don’t want to get a job at your college, then look for a job opening at a retail shop nearby college where you shop regularly. This would help you get things you need at a discount, which can be considerable.

 Student Discounts and Freebies

Many e-commerce websites and retail shops offer a variety of student discounts such as hair products, grooming accessories, clothes, and food items. Receiving discounts will help you save a lot of money and reduce your expenses, considerably.

But not everything is available with discounts and this is the reason why I recommend you stay on the alert to look out for freebies and giveaways, don’t be afraid to use coupons when you are in college.

 I hope you’ve got some useful and exciting answers to the question ‘how to save money in college’ that would help you make your college life more affordable.

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3 Tips For Big Thing Budgeting for Groceries

3 Tips For Big Thing Budgeting for Groceries

Budgeting for groceries seems like a simple task. Make a list and buy what you need. Well, it usually doesn’t happen that way. If you are not precise about shopping, the list will be meaningless, and you will end up spending more money than you need to. Shopping the right way can save you thousands of dollars every year. Here is a short list of quick things you can do for big thing budgeting for groceries.

money quotes; budgeting for groceries seems like a simple task

YOUR SHOPPING LIST
1. Shopping with a list is important, but the list must be well thought-out. You should decide what your menu will be for the week, comparison shop for groceries by using prices online or in your weekly sales paper.
It is best to use your list to shop the isles for grocery shopping is much less expensive than the end of isles, where new products are often displayed.

Shop within the confines of a menu. Know exactly how many pieces of fruits, vegetables, meat packages, loaves of bread, box of cereal etc. Know what you will pay for each item and stay within a strict budget.

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BUY, PREPARE AND EAT IN A FEW DAYS
2. Buy and prepare only as much as you can eat within a few days. Food waste is a big reason for going over budget with your grocery bill. Clean your refrigerator at least once a month to closely monitor food use. It is even better to clean and monitor your refrigerator once a week if you have time.

Keep your refrigerator and cupboards well organized so food is used on a timely basis. Concentrate on fresh foods to prepare, not junk food or food that is already prepared. 

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SHOPPING WITH COUPONS WILL HELP
3. Coupons will help if you buy items you need. In other words, don’t use coupons to purchase items just because they are on discount. The next money saver is the sales paper and prices online. Another option is extreme couponing if you have time.

The savings comes at the cash register, when you have product for weeks, and when you sell product that is in excess. Buying in bulk also saves money on food, but you have to calculate your savings, it doesn’t always work. Shop with a calculator. 

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BE VIGILANT ABOUT SHOPPING FOR GROCERIES
Being vigilant about shopping and budgeting for groceries will make a big difference in your grocery bill. The savings can be enormous if you shop the right way.

Shop when you are calm and hopefully you are not bothered by kids sneaking expensive groceries into the cart. When you follow these simple guidelines budgeting for groceries and saving money will become easy.

Get organized with your budgeting by using my award-winning BUDGET PLANNER,  WITH  THE  COMPRENSIVE  FANTASTIC  FINANCES  COURSE.The easy budget planner

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7 Steps of Budget Planning to Avoid Financial Disasters

Budgeting Planning to Avoid Financial Disasters

  1. The First Step of Budget Planning to Avoid Financial Disasters 

Budget planning to avoid financial disasters starts with not buying too big with the big stuff such as cars and homes is one of the biggest reasons many cannot withstand a small business or personal financial disaster.

Many of us forget that there are affordable ways to buy homes and cars to avoid future financial disasters. What happens, is that these two items are based on way too much emotional buying. Keep your head on straight by researching before you purchase. Learn more on my instagram.

Ask questions like; Do I really need a new car? What will the warranty maintenance cost on my new car? What if I purchase the same car 3-4 years old, what would the savings be?

If you have a job, no matter how secure you think you are, that security could be in jeopardy at any time. So, purchasing a car that you can buy cash or with very low payments will be the better option.

The same holds true with a home, if it is too large, with a stressful payment, the smaller home with the lower payment, that carries less stress may be a better option.

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  1. Stay Properly Insured

The second step to budget planning to avoid financial disasters seems to be plain old common sense. But, sometimes people with a home and car let important insurances lapse due to illness or thinking they don’t have the time, they let important insurance lapse, due to simple negligence.

Stay fully insured with a car, home, health, life, and if you own a business – all applicable business insurance. A small business lawsuit should always be covered with business liability insurance, not your personal assets –  so, don’t take the chance.

  1. Don’t Waste When Times are Good and Income is High

We have had many economic downturns and upturns in the past several decades. The one regret I have heard a lot when I talk to people who make a lot of money when times are good is — “I lost my mind when I had a lot of money, and spent without regard to the reality to the future, then a financial disaster came”.

Because nothing is guaranteed, even good times, it is important to handle your money as if the money will stop anytime, that will help protect your assets.

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  1. Let Your Kids know Money Doesn’t Grow on Trees

There are some parents who, despite much evidence to the contrary, feel it is important their kids need to have all the material trapping they did not have. It is not necessary, and it is not true.

Your kids will literally begin to think that money grows on trees and drops from the sky. Your kids know you love them when you give them positive time and attention, so it is not necessary to spoil them, and it may lead to a financial disaster.

You can reward them without giving them too much, some parents to the tune of going bankrupt. At this point your kids probably are not aware of potential financial disasters, but at least you can start to teach them money skills.

  1. Have a Sick Fund for Days Not Covered by Extended Illness

Most jobs have sick leave, most small businesses have no sick leave unless they create it themselves. As an employee, you may run out of sick leave if you have an extended illness. Save money in a sick fund to cover an extended illness. This is especially important for small business owners.

  1. Make Your Savings a Bill

Create a general savings fund and treat it like a bill. You are probably seeing a pattern here. Saving money as several bills is just as important as paying existing bills. It should be a part of a general budget plan for financial disasters.

  1. Don’t Borrow From Your 401k, Borrow From Your General Savings

As far as I am concerned, borrowing from a 401k is a budget planning financial disaster unless you are suffering from a fatal illness, borrowing from your 401k should not be a consideration.

You should have an automatic saving account for financial disasters that you can borrow from.

The 7 steps of budget planning to avoid financial disasters will above will get you on the way to solid financial success.

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Lois Center-Shabazz| Money Strategist | Course Delta Agency

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Big thing budgeting in 7 ways - budgeting tips

7 Tips for a Budgeting Basic Bounce

Budgeting basic bounce may be defined as follows. Ever heard the expression, “I don’t know where my money goes” another is, “I don’t have the things I need and can’t afford any of the things I want”.

If this is a problem you have, you may want to look at your budgeting basic skills. And read this budgeting advice, paying close attention to the process of creating your optimal budget, and then sticking to it.

1. Start With the Essentials

Your budgeting basic bounce should include your essentials to start with. You must have a home, food, and water, at a minimum to exist. So, those are the things you should budget for and pay off, first.
A) Rent, Food, Utilities, Car Payment (if you must have a car for work)

A Budgeting Basic Bounce Can Take Your Budget Over the Top    --Lois

If you don’t pay for insurance your car can be impounded and your home would not be replaced if it is destroyed by fire. So of course insurance is an essential budgeting basic skill. You could lose your credit rating if you don’t have car insurance and an accident is your fault.

The other person’s insurance company can charge you with the payout and lien your credit. In most, if not all states liability car insurance is the law.
B) Homeowners insurance, or Renters insurance, and Car insurance

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If you become ill, could lose your home and assets to a hospital lien? Possibly. To prevent this, you must have health insurance always as a budgeting basic bounce.

If you do not have health insurance, in most cases a hospital will treat you and charge the bill to you, with collection calls to pay up, until you satisfy your bill.
C) Health Insurance

If you have loved ones, that is children or a spouse who will need help with bill paying and life maintenance in the event of an untimely death, you should have life insurance, it can be an inexpensive policy, but it is wise to have something.
D) Life Insurance is a budgeting basic skill

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2. Make Your Hierarchy

Make a hierarchy of your most important to least important needs. Make a list of the most important to the least important budgeting basic items you pay monthly.

Try to pay the top 3-6 items, no matter what, even in the event of a financial emergency, and the bottom 3 that can be temporarily eliminated in a dire emergency.

Slay Your Finances Like Your Life Depended on It With Budgeting Basic Skills,    --Lois

3. Your Savings Please

You will have unexpected expenses from time to time, so an emergency savings may cover those expenses, it will also be your cushion for your top three monthly expenses.

Make this savings account a bill that is taken from your checking account or your check monthly so you don’t have to stress paying saving it. Even if it is only $50 per month, start saving now, it adds up. If you can afford more, put in more.

4. Filling in Gaps

Fill in gaps for your quarterly, semi-annual, and yearly items. Some of your expenses will be quarterly, some may be twice yearly, and others once a year.

Create savings for these items, pull the money out monthly to fund these irregular accounts when they come due. When the item comes up, take the money from this account, instead of from your monthly pay- check.

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5. Maintenance Savings Budget

A second emergency account should be for general maintenance. This is a big item that throws off many budgets. Instead of borrowing money for a car or home repair, borrow it from your maintenance savings budget. This saving account could also include your vacation savings.

6. Your Peace of mind

Every time you think of going off your budget, think about the peace of mind you will get from having a balanced budget, paying your major bills with ease every month, and having extra to cover unforeseen expenses.

Your strict organization is the key to a great budget, this is a general organizational plan. You will create a specific plan for your budget, allow this plan to be your guide.

7. Get Help With Your Budget, Don’t do it Blindly

Pick up your free personal finance gifts now, track your spending and plug holes in your budget for extra money toward expenses or savings. Use the simple but powerful, Budget Plan to guerrilla plan your budget with an extreme organization now.

In summary: Only you can put that budgeting basic bounce in your budget if you go from top to bottom with an analysis. Understand the essential such as rent, food, homeowners, renters insurance and health insurance. Then is you have dependents – life insurance.

Make a hierarchy of the most important to the least important budget items.
Get your savings in order and fill in the gaps for quarterly or yearly payments.

Now enjoy your peace of mind with your wonderful budgeting basic bounce and new found budgeting basic skills. If you don’t understand how to create the best budget for you, get help. 

Lois Center-Shabazz| Money Strategist | Course Delta Agency

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Big thing budgeting in 7 ways

How a Budget Can Create Financial Freedom in 5 Ways

Financial Freedom
How a budget can create financial freedom for everyone

Know Where Your Finances Are First

Since the most important aspect of financial freedom is no or low debt, I will start with debt.

There are those who are in horrific debt and they don’t know it, as high debt is a major robber baron of financial freedom – it is important to understand it’s implications. The main reason is because they don’t know what high debt is.

They have somehow gotten the wrong message about money and debt. They feel the more debt they have, the more money they have. Well, I am here to tell you that the more debt you have, is simply the more debt you have.

If you don’t have enough money to pay your debts every month, that is a sign that you have too much debt for your income. If you are making your debt payments, but it is difficult to pay your debts, you still have too much debt, and need to find ways of getting your debt down.

Low debt is one of the five major factors credit reporting agencies use to determine a high credit score. A high credit score is important because it saves you money when you get loans. The better your credit score, the lower the interest will be on your loans, in some cases, you may not get a loan at all, if your credit score is too low. One way to start down the road to financial freedom is creating a scripted budget.

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Write 5 Steps to Getting What You Need to Start a Scripted Budget

Write down the most important things you need immediately. Then, write down the things you need long term. Examples of immediate things you need may be 1. pay off student loans in 3-5 years, 2. purchasing an affordable car after paying off student loans, 3. saving for an affordable vacation after doing number 1 and 2.

Then you will concentrate on long term goals, like finding a higher paying job after you get experience or getting an apartment or home in a better neighborhood.

Write 5 Steps to Getting What You Want in a Different Scripted Budget

Write down what you want short term, but is not necessary. Then ask yourself if you really want it and what feeling you will have if you get it. Then write down a budget and stick to that budget for everything you want.

It is imperative to create and stick to a budget with your wants, since wants sometimes to become emotional and emotions create an easy window to overspend. Example of wants are 1. a new dress for you cousins wedding, 2. going out of town for the weekend by plane to a friend’s graduation etc.

Use the Top Three Steps from Your Budget Scripts to Meet Your Goals

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Of the five steps, you write down for both needs and wants, focus on the top 3 on each list. Focus on those top steps with laser precision. Narrowing your focus to the top three and the top 1 on your list will make it easy to make your goals in your time frame.

It will also make it easier to do. Many times, people give up because they feel the task is too hard, this comes when the task feels too overwhelming, the focus will relieve you of the overwhelm feeling.

Every Month Analyze Your Steps and Decide What You Need to Change in Your Budget

Somethings you do will work well, some won’t work at all, and as you use your current list you will also find better ways of meeting your goals. Because of this, you will change your steps by rearranging them or rewriting them.

Look at this article as one of many lessons in financial freedom, the more conscious you are about your budget, the more likely you will achieve financial freedom in the future. If you feel you have financial freedom now and you don’t live within scripted steps, as recommended, it would be wise to start so you can remain financially free.

Media propaganda to buy products we don’t need confuses people into thinking they need them, they buy them, then they get deeply in debt. Don’t allow yourself to be defined by product propaganda, but instead use conscious scripts to achieve low debt.

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Your 7-Year-Old Child’s Budget

Your 7 year old childs budget, spoiled kids make difficult adults

If a 7-year-old has a great child’s budget, will that make him a frugal adult? It may, and it may not. But, we do have lots of evidence to suggest that spoiled children often become over spending and greedy adults. What happens at 7 could easily happen at 70, since good and bad habits grow over time, so why not start growing good habits with a child’s budget early.

Psychologist say the earlier you teach someone a skill the better chance they will perfect it overtime. That is seen in teaching skills such as music, sports and education. In my humble opinion, that also works with budgeting skills.

Free printables for small business and personal use at MsFinancialSavvy; Daily Action Form, Budgeting Form, and Savings Form

Some folks can’t figure out why their kids constantly beg for everything in sight, then they look back at the fact that they did not set proper limits on spending early. They felt that a happy child was a child that had everything they wanted, until of course, the child hit their teens and then twenties, and their begging for “things” and spending money developed into out of control behavior.

Here are 3 things you can do to put your 7-year-old on the right path for life.

  1. Give him an allowance, a piggy bank and chores to begin his child’s budget

Some parents think children should not be paid for the chores they do around the house. I am of the camp that feels there is nothing wrong with giving a child an allowance for working around the house if it is in line with age and chores.

The child does their chores on a schedule, they are paid on a schedule and they are encouraged to save a portion of their allowance and budget the remainder. It teaches them early that we all must work for money, and money has a limit.

  1. Discuss value, which is the pinnacle of a child’s budget

Some products appear cheap, but they will not last after the first usage or wash. So, teach them there is a difference between expensive, cheap and value for a product. You can purchase a product that appears cheap, but has very low value because it is made with low quality materials or craftsmanship, and quickly falls apart and becomes useless.

An example is buying a computer that is very inexpensive but it only last for 3 years, versus paying slightly more, say 30% more for a computer that last for 12 years — the savings is obvious. On the other hand, you can purchase an extremely expensive car, the upkeep is extremely expensive, and the breakdowns are frequent. That car may look good and go fast, but has little value for practical use and longevity. The maintenance cost out way the looks and performance.

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  1. Teach your child about budgeting, savings and costs to round out your child’s budget

The earlier a child understands what a budget is, how to budget out the total sum of the money they receive, and how cost effects their savings, the better they will be in the future.

Sit down and decide with your child what is important for them, you can look at the internet or newspapers and find the prices of items they are interested in. Inform them that prices change from time to time, but this will give them an idea of what they must save. Allow them to set short term savings goals – a sports item like a basketball or doll, and a long-term savings goal like a more expensive game.

When you buy their more expensive items like bicycles, ATF’s, computers, and clothes, use this time to also discuss value, longevity, and cost.

Using steps 1,2, and 3 will allow your child to start early to process a functional child’s budget, so they can take budgeting into their adult life as an expert.

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Personal Finances Should be Personal

Your Personal Finances

I was speaking at a women’s meeting about personal finances and a young woman, about 35 came up to me and ask me what are “personal finances”. I was really shocked since being there meant that she was in some way affiliated with a business she owned.

She looked me in the eye with a very serious face. I pointed to her and said “your – personal – finances”. Your finances that you take very personal. You monitor, you manage, and constantly improve your finances yourself, even if you have help. It’s crucial that you understand your own finances.

It seems like it would be common sense to understand the term personal finance. But, the definition seems to elude some of the most intelligent, and highly successful people. The proof is in the finances of many.

The workplace embezzlements of high-level employees, the bankruptcies of high-income people, the general personal finance mismanagement of people which becomes evident when they lose a job and lose all or most of their assets due to mismanagement.

I CAN SUM IT UP IN 3 WAYS:

  • RANDOM SPENDING

Take your finances serious – don’t randomly spend money. This is the most important aspect of personal finances. Some folks act as though the money they have in their checking account belongs to someone else, so they spend it until it is gone or before all bills are paid.

Then they go to the credit cards, when those run out, they go to others to borrow money and make up the difference. Then they lose relationships, which is can be more serious than wasting their money.

  • TRACKING YOUR SPENDING

Keeping track of your spending is getting very personal with your finances. Most people don’t understand how fast money goes when it is spent randomly. You can see this also when you charge on credit cards the balance escalates rapidly.

A major aspect of getting personal finance maintenance is paying cash as much as possible unless you use a credit card for points and you have the money and discipline to pay off the balance once a month. With frequent credit card use, many tend to lose track of spending, and their finances become very impersonal.

  • BUDGETING YOUR MONEY

I talk to people all the time who tell me they thought they were budgeting until they read many of my budgeting articles and the advice I give on budgeting. My program includes guerrilla budgeting.

With all the distractions, we have – advertising – expensive products – overpriced cars and high maintenance homes- getting personal with your finances means that you must create a guerrilla budget to survive no matter what your income.

Some folks think all they must do is make more money until they find out they spend more for things and get more expenses, so they are either in the same place or worse financially, as income goes up. They realize the problem is they did not get personal with their finances.

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The three eBook Budgeting Bundle; Teach Your Teen to Budget

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The Reason Your Personal Finances Should Be Personal

Teach Your Teen to Budget, It Is Possible

Teach your teen to budget, it' possible.

Is it possible to teach your teen to budget? For some parents or guardians, the answer may be no. But, for others it is possible. If you have not spoiled your cute sweet little toddler into a mean selfish teenager, it is possible. Even if you have engaged in the “spoiled rotten” theory, you can still teach your teen to budget, but it will take considerably more work.

Here Are Three Tips to Teach Your Teen to Budget

START EARLY TO DEVELOP A STRONG CONNECTION

  1. The earlier you develop a strong emotional connection to your teen, the easier it will be to teach your teen to budget. Kids don’t need to be spoiled with things, to be happy. Things don’t make kids happy; but instead activities, hugs from parents, and talking to understand their concerns and helping them solve problems on a regular basis have proven to be major issues for happiness.

CHANGE THE WAY YOU THINK ABOUT THINGS

  1. For some strange reason, some parents think that if they give their teens all the material things they did not have, it will trigger massive happiness. If you had all of those “things” you would have seen that the lack of things was not the reason for your unhappiness when you are a teen. But instead, it is mostly the things that you cannot see that builds happiness.

TRY TO THINK LIKE A TEEN

  1. The only way you can find out how teens think, is to talk to many different teens. Teens want direction and clarification when it comes to making decisions. Teens also want to feel like they are important. What makes them feel important is first and foremost when parents appear that they care about them. The best way to make that clear is by telling them, you care about them and you love them. The second way is to guide them in what they do, and the third way is to make sure they are busy with activities where they make progress doing things they love like music, art or sports. The accomplishments make them feel important.

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Once you create the strong connection to your teen, it will allow you to create a strong connection to teach your teen to budget, by connecting the reason why they should budget along with you now and in the future.

It starts with saving money and why, then onto saving money and purchasing with a budget, to buy that which is affordable. Then, the reason a budget is necessary now and for life.

Lois Center-Shabazz | Course Delta Agency
Personal Finance: Author, Blogger, Course Creator, Money Strategist

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How Much You Budget What You Have Makes a Difference

It Starts With a Guerrilla Budget

I have had several people online contact me and say, “I never thought I needed a budget, much less a guerrilla budget” Most of them feel that budgets are for those who have a lot of money.

But, I am here to say, it does not matter how much you have, it’s how much you budget what you have. Rich people go broke all the time for the same reasons poor people go broke.

In my opinion, they both spend to much money for their income. Budgeting is a skill, the more you practice it the better you will get at it. So, start now, and perfect your budgeting skills.

How Much You ‘Budget What You Have’ Will Make a Difference by:


Saving Money

Budgets save you money in many ways. First, it encourages you to put savings in your budget I encourage those who don’t have much money to start with “the jar”. Place loose change in a jar once a week. Then go on to the second jar which is the dollar jar. You will place a few dollars in the dollar jar a week or every two weeks.

This will give you more of a cushion than the coins if something goes awry in your budget, like running out of food or needed extra gas. This will help to keep your budget in tack.

After your jars are full, open a savings account, then later, start automatic deduction from your payroll or checking account to your savings.

;Money, Understand that it is complicated, budgeting counts

Controlling Behavior

A budget controls your behavior by preventing you from randomly pulling out a credit card or spending on things you don’t need. When you pass the dress or shoe store your budget sense will tell you to keep going because those things are not in your budget.

When you get an email from a clothing store you purchased from in the past, your budget will tell you to delete the email, there is no reason to open it.

Ladies for peace of mind when you buy a car you must understand the rules.

Reducing Clutter

This may seem like common sense, but many people spend excessively and don’t realize it until there is so much clutter they can’t find a place to put their buys, or a place to use it.

It is only then, that many realize they are developing a hoarding personality. Creating a budget. and sticking to it will help tremendously to prevent over-buying, the fear  of hoarding and busting your budget, will encourage you to budget what you have.

Budgeting is not taught in most schools, many of your parents do not have a budgeting sense, so it is important to get it from other resources.Start with
my Car Buying Course for Women.

How much you budget what you have makes a difference

 

Lois Center-Shabazz | Course Delta Agency
Interested in a Free Discussion about how I can help you with Fantastic Finances? Let’s Chat – Make an Appointment Here

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Money Saving Tips for Single Moms, When You Live on a Tight Budget

money saving tips for single moms

Nearly every single Mom eventually comes across this one question,  ‘how to save money with my one income?,  the answer to the question varies considerably from one person to another. The money saving tips working for a single mom would be different than a student, and a working professional and entirely different saving method would apply for a couple.  Being a single parent is not an easy job and it becomes more difficult when it comes to being a single Mom.  Life is not easy for Moms but when they have to play the dual room of bread-winner, and homemaker a bit of master-minding is in order. 

Maintaining good finances is always a tricky task for everyone, but this task becomes more challenging when there is one income. A single mother whether earning or not needs to take to laser focus on all her finances,  saving money will alleviate some of the stress in her plan. If you are a single Mom and looking  for solutions to save money, then you will benefit from this article,  as here I will present to you, one of the great “how-to’s”;  How to save money tailor-made for single moms, using these, money saving tips:

Saving Money on Groceries

Most Mom’s are responsible for grocery shopping, meal planning, and preparation, but a single mom is responsible for doing the same and making sure it is “cost effective”. A single mom can save money by

  • Planning the family meals in advance, because she can purchase in bulk, prepare in advance and freeze meals.
  • Cooking in bulk that can be used over a period of 2-3 weeks, freezing the excess, would help her save on cooking expenses apart from saving a lot of time and energy.
  • Purchase in-season vegetables and fruits
  • Avoid expensive cuts of meat as they will heavily increase your supermarket bills.

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The Second Hand Option!

Children are always full of demands, and I won’t be exaggerating if I say their demands are never-ending, that’s typical of kids. A  single mom needs to handle these demands without jeopardizing her monthly budget and savings. You can save a lot of money by buying used toys and clothes for their kids and, and even for yourself. And if second-hand clothes are not something you like, go in for recycling your clothes and save a lot of money on buying new ones. There are a number of shops that offer second-hand products used once or twice, and available at 30-50% of the original price. You can see that there are many options for saving money on clothes, you can think of others.

Look out for discounts and coupons

The life of a single mother is full of struggles and difficulties but shopping for discounts in major sales papers and online should be a major part of your shopping tour. Take advantage of shopping coupons, store loyalty, and reward points and make the most of your shopping by paying the lowest price possible for everything. You can go in for kid’s clothes shopping during sales at regular stores,  and  also  at deep discount retail shops in searching the best answers to ‘how to save money’.

Team up with other moms

There is one famous quote saying ‘Divided we fall, United we stand’  let this be an inspiration for single Moms everywhere. Befriend single Moms in your area and form a group where you can trade babysitting with other group members, which would not only save money but also foster support and friendship within the group. Organize group activities such as cooking and freezing, excursion trips, picnics to nearby places with kids and carpooling etc.

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Save on household bills

Household bills are a necessary evil, will always be with us, so they need to be dealt with efficiently. The process of saving money on household bills begins with cutting back on cell phones, cable, electricity and water bills. Single moms can take advantage of the internet to compare various cell phone plans and make sure you can constantly upgrade to the most discount friendly plan. Always ask your electricity, water or gas companies for a  subsidy or discount, as many companies give subsidized electricity and other amenities at lower rates to people belonging to certain income groups. As for electricity, don’t use what you don’t need. If there are cable channels you don’t use or can’t afford, cut those out of your cable package.

Get out of the debt trap

[sociallocker]Debt is considered to be an integral part of the lives of a single parent, especially the single Moms. Many people know that debt is actually the enemy of savings,  and in order to increase savings, you need to get work to get out of the debt trap as soon as possible. I suggest you replace your big car with a small one or a big house with an apartment or small manageable home.  Big assets acquired in the form of a  loan only adds to your liabilities and increases the outflow of your cash by the way of down payments and loan installments. Get rid of bigger loans with huge installment payments, and high-interest rates: and save up your monthly income for a healthy budget and securing your children’s future.

We are aware of the fact that as a single mom, you know the importance of money and savings. This is the reason you can see plenty of single moms working terribly hard from morning to evening in order to earn an income for their children. But sometimes finding answers to the question  ‘how to save money’ seems blurry even for the hardest working single moms,  this is the reason why we’ve given you the best workable tips for achieving the task. Take advantage of these money saving tips and see your budget consistently improve over time.[/sociallocker]

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Money Saving tips for single moms

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Regards,
Lois

Save Money on Monthly Expenses in 10 Easy Ways

Save Money on Monthly Expenses

save money on monthly expenses in 10 easy ways

No matter what your income, on one wants to overspend on expenses. But, if you are on a budget, at some point the question comes into play – How to save money on monthly expenses.  The answer is not simple, though a little bit of behavioral change, can help you find a lot of ways to save  money on monthly expenses;  and therefore strengthening your finances. Here are 10 great ways, illustrating, some easy ways to save money on monthly expenses.

1. PHONE AND INTERNET FACILITIES

  •  Don’t keep several phone lines at home when you can use a single cell phone to receive most of your calls.
  • For internet packages, research different service providers and select a package based on your monthly service use.
  • Try to use a WiFi device to connect with multiple devices including tablets, cell phones, PC’s etc.
  • Use email and online chat to communicate with friends and associates to reduce costs on phone bills. Most landline phone services offer free long distance.

2. COUPON CODES 

Today you can find several legitimate sites flooded with lots of coupon codes, offering discounts, points to receive  free samples, free shipping offers, and much more. Sources like Groupon, are great to receive coupons for groceries, clothing, restaurants, and many other purchases. I caution you to make sure you absolutely need and can afford the discounted item. In other words, don’t get caught in the trap of purchasing items, just for the discounts. It is best to get manufacture coupons directly from the company or stores website to make sure they are legitimate.

3. DIY METHODS

Maid Services: Many people are busy, and therefore hire out home services. Some of the services are affordable, but some are not. One of the most common services hired on a regular basis is a  maid for cleaning services. You can place cleaning chores on a schedule and do your own household chores. This will require a bit of effort, but the weekly savings is substantial.

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Laundry Services: Do your own laundry. Some folks get so busy, they drop off laundry to have it done at a Laundry Mat. Do your own laundry, while you are watching TV or some other mundane activity. Dry cleaning is another story, some clothes must be dry cleaned, check to see if some of your dry cleanable clothes can be carefully hand washed to avoid the dry cleaning bill.

You can apply DIY methods in a lot of areas of  household tasks;  including general household painting, sewing your clothes or curtains, decorating your home, making small fancy items such as bags or belts.  Always make sure you have conducted detailed research before implementing DIY projects.  There is qualified research all over google.

4. ELECTRICITY BILLS 

Many people do not realize the importance of resorting to research, for saving money on electrical bills. If you are eager to know the many ways to save money on electrical bills, then here are a few tricks you can follow.

  •  During the winter you can keep the windows closed and let the light come in during the day, avoiding the use electrical lighting.
  • Some LED lights, chargers, and appliances are available with solar panels that help you charge devices or energize light,  using solar energy. This will help you save money on electrical bills.
  • While purchasing electronic appliances, choose products with a five-star rating that consumes minimal energy.
  • While using a water heater to warm up water for washing utensils, clothes, or bathing purposes, the maximum temperature required is 120 degrees. Lowering the temperature settings to this level helps to cut  cost on power usage. If you will be out of town for an extended period of time, you will definitely want to lower your hot water heater settings.
  • Always remember to turn off appliances when they are not in use, or switch off the lights when you are not in the room.

5. USE REWARDS CREDIT CARDS

There is competition among the credit card providers that prompt them to offer cash back and discounts on the products purchased using your card. Hence, if you are shopping in a  mall, you will have to pay the full  price if you opt for cash/check payment methods. A credit card, used sparingly, can help you save up to 15% to 30% through discount offers. I caution those who have spending addictions, to use cash instead, so they will not overspend. The airline rewards can be substantial if you are in a business of frequent travel or other business spending where a credit card is necessary.

6. REDUCE COST OF FUEL

The fuel costs are rising with undue intensity. Expenses on gas for cars, homes, and other uses can be controlled, but with work.

For saving money on cooking gas you can either use solar if you have the panels or use electrical kitchenware, such as a microwave or induction ovens to prepare food faster. Some municipalities offer a huge rebate for installing solar panels. In some cases, the rebate pays for the installation and cost.

While traveling to your office, schools and regular grocery shopping to locations near your home, avoid taking your car. Use public transportation facilities such as bus, train, tram etc. Alternatively, you can also establish a group of people who can travel in a single vehicle and share the fuel costs in a carpool.

 7. FOOD ITEMS 

You can save a lot of money limiting your expenses on daily grocery shopping.

Beverages: Avoid costly beverages at  coffee shops or restaurants. Opting for a simple cup of coffee over a Cappuccino, can save $3 per cup, or roughly or $90 to $180 per month on 1-2 cups of coffee.

Office Lunch: Try to carry your lunch from home. This costs around $5-$20 everyday compared to the cost of preparing lunch at home can save you as much as $5-$10 per day.

Shop for Ingredients: Always purchase unpacked fresh fruits, vegetables, and unprepared food. They are cheap and healthy too.

8. CLOTHES 

  •  Research the opportunities to buy clothes during seasonal sales for greater discounts.
  • Do not purchase too many clothes for daily wear that require dry cleaning.
  • While washing clothes use mild detergents, cold water, and avoid dryers. All of these will add to the longevity of your clothes.
  • Check your wardrobe before going out so that you purchase only necessary replacements. Save money by avoiding random and unplanned shopping, in other words — stay out of the stores, if you don’t absolutely need anything.

 9. SOCIALIZING 

Friends and relatives are of great importance to everyone. So sending gifts and messages on special occasions such as birthdays, marriages, Christmas etc. is extremely important. Try to purchase combo packages that cost less. Wrap your own gifts, it is cheaper. While ordering gifts online, always take the “free shipping” option. Purchase less expensive items,  and use coupons to reduce costs during the holiday shopping season. Create a holiday budget, and shop from your budget.

 10. ENTERTAINMENT

[sociallocker] Every year people spend a whole lot of money on watching TV, movies, reading books etc. The expenses with monthly cable bills, can be far more expensive than watching free TV online. Be selective in watching new films and use coupon codes to receive discounts on movie ticket prices.

For watching old movies, get free videos from your library. You can also get a library membership for reading books for free, of course and using their computers.

While passing through financial crunches, people often wonder- “How do I save money on monthly expenses”, on daily living, while at the same time, taking care of themselves of their family. A little bit of budgeting and wise spending can help you save a lot of money without compromising the essentials or your lifestyle.[/sociallocker]

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Lois Center-Shabazz
author of, Live Rich Save Money! Budget Diary
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author of, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever
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save money on monthly expenses with easy budget planner