How do you save money with tight budget??

Money Tips

"Getting money is like digging with a needle;
spending it is like water soaking into sand."

1.Failure to allocate money for such items as insurance, savings, routine medical and dental checkups, home maintenance and repairs, and the like can be far more disastrous than indiscriminate impulse buying.
·Try to plan in advance. By knowing what you need, you will be able to buy in larger quantities (almost always less expensive) and cut down on convenience food purchases (always more expensive).
When it is on sale, stock up. Of course this only applies to those items that you use on a regular basis. Stocking up on an item which you use once a year doesn't make sense (and robs you of spending money, not to mention shelf space).

·Shop at the store that is the cheapest overall. Surveys have shown that there is sometimes as much as 10-15% difference on identical grocery orders at 2 different stores in the same area. If you spend $500 a month on groceries, that can equate to $600 to $900 a year in savings. Don't throw away your money just because it is your habit to shop at a certain store.
·Consider store brands or generics. You may find the quality is equal to (and sometimes better than) the national brands, and store brands/generics are generally considerably less expensive.
Percentage of Income for Items: (See how your family compares to the national averages)

Housing27-30%
Food19-25%
Transportation14-20%
Clothing9-13%
Medical6-7%
Recreation4-5%
Tobacco &
Alcohol3-4%
Education1-3%
Misc3-6%

Insurance. Most of us pay our automobile and homeowners insurance premiums by habit, rarely if ever making comparisons. With many families insurance costs totaling over $2000 a year, even a 15% savings equates to $300 annually. Some hints from the Insurance Information Institute on saving money on your homeowners insurance include:
·Be sure to shop around. It may take a little time, but it could save you money. The insurer you select should offer both a fair price and excellent service.
·Raise your deductible. Deductibles on homeowners policies typically start at $250. By increasing your deductible to $500, you could save up to 12%.
·Beef up your home security. You can usually get discounts of at least 5% for a smoke detector, burglar alarm or dead-bolt locks.
For automobile insurance the Insurance Information Institute recommendations include:
·Shop around. Prices for the same coverage can vary by hundreds of dollars from company to company, so it pays to shop around. Surf the net, ask your friends or call your state insurance department for ideas about companies and agents to contact.
·Ask for Higher Deductibles. By requesting higher deductibles on collision and comprehensive (fire and theft) coverage, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15% to 30%.
·Take Advantage of Low Mileage Discounts. Some companies offer discounts to motorists who drive fewer than a predetermined number of miles a year.

Clothes buying tips:
Avoid impulse buying
Returns cost money
Study labels carefully
Shop alone if you know what you want
Don’t shop when you are tired
Shop early in the season.
To avoid crowds shop after 10:30 am and before noon or from 2-5pm.
Go to sales with a specific purpose.
When you need clothes for a special occasion do no wait until the last minute.
If you have a reasonable complaint about an item by all means take it back.
Seconds and irregulars might be perfect for you if you find out what is wrong.
When something is “on sale” it doesn’t always mean less expensive, some stores use that term to mean “available for sale now”.

Laundry tip: If you run out of bleach, you can use a small amount of ammonia instead. (Never mix the two). This can save you a trip to the store in a pinch.

Clothes should last 2-3 years.

Food buying tips:
Freezer burn is a major area of loss in the food budget.
Money shrinks- this means that the same item next month could cost you more money. The call it INFLATION. So if you know you will need something soon and it won’t go stale, buy now, while you have the money. Examples: Toilet paper, paper towels, toothpaste etc. Many people make more money stocking up than in the stock market. Focus on the cost benefit ratio. For example: Buy one get one free is almost always the best deal because it is like getting 50% off on both items. Where in the market can you make 50% on your money.
Buy bulk. But don’t let quantity specials tempt you into buying more than you need of perishables. That is like throwing money away.
Get a food sealer. This saves us lots of money.
Keep a special watch at the checkout counter to be sure that items are rung up properly. If an item is miss marked, complain. Stores make mistakes
Look for bargains on frozen foods when fresh fruits and vegetables are at their peak. Stock up for later. The price goes up on these frozen foods when the item is no longer in season.
Can foods keep indefinitely, so stock up when there is a sale on stuff you use all the time. These are a list of items I buy by the case:
Soups, fruits, mushrooms, vegetables, tomato sauce, olives, juices, pop, water, etc.
Shopping late in the day or just before a weekend can save, especially on a long holiday weekend.
Change your menu plans to take advantage of items on sale.
Unpack your groceries promptly and store them properly so they will keep.
With food waste is where you really lose. We buy Costco because you can get twice as much for half the price. Even if some goes to waste you’re still money ahead.
You can freeze milk. We buy two for one and freeze one of them.
Cured meats last longer. Example ham over pork chops.
Freeze nuts and only use small portions at a time in recipes. They can get really expensive but they are nice to have.

Try off brands once- if there isn’t a whole lot of difference in taste you can switch brands and save over and over each time you buy that item. But don’t buy them again if you don’t like them because what you won’t eat is wasted.

Get to know the butcher. He can give you advice on how to cook certain meats to get the best flavor.

Do homemade soups at least once a month. They are good. Usually have less salt and are healthier than canned soups. I can make a cabbage soup in 20 minutes. We eat on it for several days. I put Italian sausage in mine. Since Debbie doesn’t like tomatoes you can add canned Italian stewed tomatoes afterward and zap them in the microwave.

Other people agree with me….

·If you see something in a store and can't make up our mind if you should buy it or not, You don't need it! If you have to think about it pass it up, saves time and money.
·Collect grocery ads from area stores & circle the best buys. Make a list with price & store names, then shop at one store that price matches.
·When you find a really good deal on a clothing item for a child, buy 2 of them. One the size that you need and the other one size up for when they grow out of one.
·Before you head off to the grocery store, make a menu for that week. Family members can offer ideas for meals they want. Take inventory and make your list. Not only will it save you from buying groceries you don't need, but you'll save time trying to decide what to have for dinner each night.
·Be sure to check your receipts for accuracy before you leave the store. Make sure you received the sale price or immediate refund you are supposed to receive.
·Make a "want" list of things and place it in your wallet. You may see a great deal while you are shopping, or you'll have it handy when someone asks what you want for your birthday.
·Instead of buying expensive department store make-up, buy from the drug stores, they usually have the same ingredients. It is the name you are paying for.
·Buy clothes at a thrift shop or consignment store. They usually only except good quality items. End of season or sale items are good buys also.
·Cheaper is not always better. Quality is better so you don't find yourself buying a new "something" sooner.
·Reuse those water bottles! You can wash them out and keep them in the refrigerator filled with any kind of drink. You may also fill them with water and freeze them, makes for slow melting, ice cold water on a hike.
·Don't throw away already read magazines and books. Sell them to a bookstore that sells new/used books. With that money, you can buy little extras that are not in your budget.
·The best toys for kids are empty boxes or containers. It's their imagination that makes those objects fun. For example: giving the kid's your junk mail to play mailman with.
·Library, library, library, and of course the internet. They provide the books and magazines for free. If you don't see a certain book in the library, ask the librarian to check the other area libraries, they do it via computer, and have it in a couple of days usually.
·Prepared food tends to cost alot. Don't buy prepared, learn how to make it. You benefit also health wise as alot of prepared foods tend to have alot of sodium (salt) in them.
·Trade toys, clothes etc. with your friends rather than buying all new stuff, this works well with toys that the kids are "bored" with.
·Be sure to shop around. It may take a little time, but it could save you money.
·Try to plan in advance. By knowing what you need, you will be able to buy in larger quantities (almost always less expensive) and cut down on convenience food purchases (always more expensive).
·When it is on sale, stock up. Of course this only applies to those items that you use on a regular basis. Stocking up on an item which you use once a year doesn't make sense (and robs you of spending money, not to mention shelf space).
·Buy next year's winter clothes at the end of this season and save. The styles won't change that much (if at all) and you will pocket a big difference in the price.
·Put something into savings out of each paycheck even if it is Re. 1.00. It is a start and the beginning of a really good habit.
·Spend only what you available in cash. When you purchase gifts with cash or with money from your holiday savings account rather than using a credit card, you will spend less and shop smarter.
·Set aside money monthly, for bills that are due quarterly, semi-annually, or yearly.
·After a loan is paid off, keep paying the loan amount to yourself (make a vacation fund, or next car fund).
·Involve the whole family. Remember to turn off lights, take shorter showers, and cut down on long-distance phone calls.
·Quit the fast-food habit. It's expensive. Start by cutting out one fast food meal a week, and go from there.Take a look at your month-by-month expenses. Note which months have extra expenses and which are fairly easy. Budget and save in the easy months, to help get through those difficult, expensive months.
·Think low-cost menus at home. Try serving soup and subs for dinner once a week, or pasta with meatless sauce. Compete to see who can come up with the least expensive meal.
·Avoid the mall. Try trips to museums, parks, the beach, the ballpark, or just a walk around town.
·Avoid ATM machines. They encourage impulse buying, and often have finance charges.
·Don't collect credit cards! Limit your card collection to one or two major cards, and keep spending under control. Pay off the balance every month, if possible.
·Plan and budget for unexpected emergency expenses such as car repairs or medical bills.
WRITE IT DOWN. A budget is not a form of medieval torture! It is YOUR game plan, where YOU tell YOUR money what YOU want it to do. This isn't rocket science! Just give every dollar a name on paper.

STAY AWAY FROM PLACES THAT TEMPT YOU TO SPEND. If you have a problem sticking to it, it could be that you are immature. It could be that you can't stay out of the mall! It's not smart for an alcoholic to hang out at a bar.

TRY THE ENVELOPE SYSTEM. Take some envelopes, write the budget categories on the envelopes, and use that only that money to purchase those items. If the money is not in there, don't buy it. Easy as pie.