Proven Personal Budgeting Strategies

To help you cut your expenses, try some of these personal budgeting strategies on for size. These tips are sure to put more bounce in your pocketbook.

First of all, personal budgeting strategies apply whether you are single, dual income with no kids, or married with children. Everyone can benefit from finding new ways to save on everyday and planned expenses.

Some might argue that focusing on saving money will be limiting to a belief in abundance, thereby advancing feelings of scarcity. However, personal budgeting strategies aren't about scarcity at all. They are about being better stewards of our financial resources.

The first strategy is to plan your meals ahead and shop from a list. Planning ahead allows you to buy only what you need to prepare specific meals. It allows you to make more economical choices instead of giving in to last-minute impulses. It also eliminates buying a bunch of food but having nothing to eat, which leads to, you guessed it: another unplanned trip to the market.

For miscellaneous purchases, make it a rule that an item has to be on your list for at least 72 hours or you don't really need it. There are some obvious exceptions, of course.

Another personal budgeting strategy that we recommend is food storage. Having a 90-day food supply will keep you from going to the store too frequently. It will also get you through a difficult time, such as a change in employment or a change in living arrangements. Food storage is a good idea for other reasons, but freaking you out is beyond the scope of this website.

Putting together a 90-day supply is easy to do. Just write down all of the meals that you normally have over the course of a few weeks. You will probably come up with about 10-12 that reoccur. Now, every time you go the the grocery store, make it a point to pick up one extra item (non-perishable) that relates to your list of meals. Before long, your pantry will be well-stocked with your favorites. After that, all you have to do is rotate your supply regularly.

If you are pressed for time, local food prep services will still save you over the cost of eating out.

In the event that you do eat out, plan ahead of time to take advantage of local and other discounts. Sometimes eating establishments will offer a newcomer's discount or specials for frequent customers. Online coupons can also come in handy.

Consider joining a buying club, particularly for larger purchases such as jewelry, automobiles, and furniture. You can sometimes save thousands of dollars that you would otherwise be forking over to the retailers by simply becoming a member of a large group.

The concept of group buying power can also save you money on smaller, everyday items such as printer ink cartridges, eye glasses, and even online shopping.

Again, personal budgeting strategies don't have to be limiting to your having more. They can actually be stepping stones to living a better, happier life.

Save more. Spend less. Be happy.

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