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How To Live On A Limited Budget

671 words - 3 pages

Many families and single people are forced to live on a budget. The process of living within a budget takes will and determination but to reach happiness and avoid poverty, it is worth the sacrifices. There are many economic reasons, such as a new baby in the household, job loss or change, the children’s education expenses or retirement. All of these occurrences can cause financial burdens and, the need to control and tightened spending. Even the wealthy, have to budget and arrange their unrestricted expenses against their limited incomes. It is possible to live well on a tight budget but there has to be an understanding of the expenses, a good attitude and a clever plan.
First, evaluate the expenses and the income, and then eliminate all the unnecessary expenses. Everyone has a different opinion on what is necessary. For example, a lot of people will go shopping because it helps them feel better and it ...view middle of the document...

We should think of budgeting as a challenge to help us to reach our financial goals every month. Find smart ways to be frugal and get more items for less money.
Make a list of rewards for your family and yourself. When we live a financially disciplined life we will be able to reward with things that are important to the whole family; for example, a vacation or a special gift, if the expense if below the budget or if a savings goal is reached.
Purchase fewer articles that are made with poor quality materials. Wait for sales on higher quality items that way you will get your money’s worth and that item will last longer. Clothing will fade as you wash it. Use dye to refresh the color of those items.
Set aside a small section of land for a garden in your front or backyard for a garden. Grow your own squash, tomatoes, beans, artichokes, or any other vegetables and herbs. Sell the left over vegetables to a vegetable market, share with your neighbors or exchange them for any supplies or merchandise that you need.
Taking the family to dinner or a movie could be very costly. There are alternatives that can be free or at a very low cost. A walk in the park does not require any funds some museums have free days or half price days during the month. Renting movies is a good choice because it is not only inexpensive but will also will give the family an opportunity to bond and be together at least one day a week. Have a family movie night.
Also, consider ways to bring home more money, if the expenses are difficult to pay each month. Producing more income is less stressful than facing the challenges of living with limited earnings. Study the options of working overtime, or turning a hobby into extra cash.
In conclusion, budgeting isn't just for the poor or when the household income is limited and there are major changes in the financial situation. Budgeting can be a solution to anyone who wants to achieve various financial goals whether the goal is to pay cash for all purchases or to make sure we live a debt-free life. A debt free life gets us closer to a stress-free life!

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