Do you find yourself with not enough money to do the things you’d like to? Do you wonder exactly how much you spend on everything every month? You don’t need to be an accountant to figure it out. Follow this basic formula to find out how you spend, and how to help save by cutting unnecessary costs:
First, think about the things you can’t change. These are called “base cost”. You don’t need to turn your life upside down moving into a cheaper place, but at least get organized:
4 things to think about:
Rent & Utilities
Phone Bill
Car Insurance
Credit Card Minimum
These won’t change. If you’re living in a place that’s way beyond your means, that’s one thing, otherwise, move on.
Now come secondary costs. These things are necessary but can be rebudgeted:
Food
Gas
Entertainment (including drinking)
Clothing
Compare this number to your total income. What can you change?
Operating unde the assumption that you’re not binge drinking 5 nights a week, or you’re not buying a new wardrobe every day, FOOD is the number one thing wrecking your budget. Most people either entirely never cook, or cook rarely (putting a pizza in the oven doesn’t count). You might be surprised to hear that a coffee drink at starbucks and a fast food meal can equal a half week of groceries.
Here are some staples that can create a massive variety of dishes, and can cost around 50 cents per meal:
Eggs (Scrambled, over-easy, ((either on toast)), poached, fried, etc)
Beans (In sauce, or with veggies, you can easily make a vegetarian chili)
Pasta (Unlimited possibilities to combine with various sauces, veggies, meats)
Chicken (Fried, pan-sauteed, poached, baked, thousands of possibilities and marinades)
Rice (As many, if not more possibilities than pasta. This is a staple across the whole world but an afterthought here. Obviously there are thousands of ways to prepare it)
Bread (to be combined with the above, obviously you can go the spread route or pile on chicken or cold-cuts to be taken with you for lunch)
Also, make sure you save odds and ends. For example, grocery bags can be used as trash liners and to pick up dog crap. Look around you, there are a lot of opportunities with a little imagination.
Tags: binge drinking, chicken fried, coffee drink, food meal, insurance credit, massive variety, personal budget, unlimited possibilities, unnecessary costs, vegetarian chili