Create a Budget and Make It Work

Wednesday, September 3, 2008
Posted by Pearl

Becoming a wise spender takes a lot of skill and knowledge. If you can't keep track of your family's expenses, it's time to start keeping a budget and sticking to it.

Inspect all your expenses including car registration, birthday gifts, school expenses, etc. Know what your expenses are so you'll know where you can cut back.

How do we save?

There's nothing more annoying than an unexpected car repair bill. So my family has decided to be smart and we had put a stop to those breakdowns before they can cost us a fortune.

  1. We have regular car oil check-up.
  2. We regularly check transmission and brake fluids.
  3. We regularly check our tires.
Even the best shoppers have to return items for reasons such as damage, wrong size, or spoilage. To avoid hassles, keep these shopping tips in mind:

  1. Never buy anything without knowing y our store's return policy.
  2. Always keep your actual store receipts.
  3. Know what could never be returned, like underwear, makeup and perishables like food and plants.
  4. Supermarkets will likely replace items that have gone bad prior to expiry date.
Being proactive with your spending will help you in anticipating what bills will be coming. See how you measure up to your plan. That way you'll know where your money is going, get a realistic picture and have total control of your spending.

Even a little saving can go a long way. Make your own coffee; forget the lattes. Regularly maintain the family car, be a smart shopper, and be frugal but spend wisely.

Where to splurge?

There are some purchases we should invest in that in the long run will actually let us save money.

  1. Bottled water - if you think you're doing a good thing by reusing your old water bottle, think again. After two days, that water bottle can go from 1 bacteria per mL to more than 5,000.
  2. Sports shoes - your feet take three times your weight when you exercise. Without the righ support you can expect injuries so get a good pair of sports shoes.
  3. Foundation - higher priced brands have a higher level of pigment and less filler. That means truer color with fewer breakouts.

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