The husband and I have been talking this weekend about how much we spend on a monthly basis and how we can cut back on these expenses. He's thinking of leaving his current job and doing something totally new. This would involve not getting paid for a while.
I've realized that saving money or living on a budget is all about preparation. If you take the time to create a budget it's really much easier than you'd think. The planning forces you to make the tough choices (what you can and can't buy) so that impulse doesn't get you in trouble. This is how we're approaching this new fiscal challenge.
1. Plan a menu for the week then shop at the grocery store for supplies. When possible make two extra portions for lunch the next day.
2. Don't buy lunch, make it and bring it. For us, leftovers are easiest. Plus, I've never been much of a sandwich person.
3. Track your expenses. It's much easier not to spend on frivolous stuff when you're keeping yourself accountable. I try to put everything on plastic and avoid cash so that I know what's being spent. Plus, we use Mint which has been very helpful.
4. Plan for "unusual" spending. We all have those annoying one time charges -- whether unexpected medical bills or home repair. It's best to decide where the money is coming from before the emergency hits.
5. Don't assume that you can cut out entertainment spending, just make a budget and stick to it. With a baby going out gets more expensive because of the added cost of babysitting. When you have a budget, you can avoid the feelings of guilt that go along with spending. We love good food and good wine so for us it's a must. Instead of eating all meals at home we do research to find places that are noteworthy but affordable. In New York we often check the $25 & Under column or we head to Chinatown.
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