Your budget is sure to have both fixed and variable expenses. For example, your mortgage (or rent) and car payment are fixed. They don’t change from month to month.
Conversely, there are variable expenses that jump up and down on a monthly basis. Your goal is simple: to shave as much money as possible from these budget categories. By doing so, you will soon find yourself with the ability to save more.
Where should you start? While it is imperative to review your budget in its entirety, there are three categories that deserve your immediate attention:
1. Food. How much money are you spending every month on food? This includes trips to the grocery store, dining out, and takeout.
You have to eat, but this doesn’t mean you have to overspend. Continue to search for new ways to save on this category, such as eliminating how many times you eat out each month.
2. Entertainment. There is nothing wrong with having some fun from time to time, but this doesn’t mean your entertainment expenses should take up a large portion of your budget. The best thing you can do is set a reasonable number and stick with it no matter what. When the money is gone, it is time to search for free ways to have fun.
3. Cable. A growing number of people have come to find that their cable bill is outrageous, leading them to consider other options. You don’t have to get rid of cable altogether, but you should consider ways to save. This can include but is not limited to: eliminating channels you don’t watch, switching providers, and negotiating a better deal.
It may not be easy at first, but with the right approach you can shave money from these three budget categories.
Which others deserve your immediate attention?