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Budgeting Tips: Your Automobile
Budgeting Tips: Your Automobile
Budgeting Tips
By Amerix Corporation Reprinted with Permission Posted December 2001
Last Reviewed: June 2004
Staying on a budget can often be challenging. Following is a list of ideas to help you save money and stay on track each month. When reading this list,
keep in mind that your budget should be created and managed according to your personal financial circumstances. Some of these ideas may not be right for
you, so be sure to think of some on your own.
Your automobile
Banking
Clothing
z Accept hand-me-downs
z Buy clothing off season
z Designate play clothes
z Don’t buy dry clean-only clothes
z Make your own clothes
z Never buy anything that isn’t on sale
z Repair/mend torn items
z Re-wear unsoiled clothing
z Shop secondhand or thrift stores
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Credit
z After you pay off a debt, apply the payment amount to the debt with the next highest interest rate
z Analyze fees and compare
z Ask credit card companies to lower your interest rate
z Consolidate multiple credit cards to avoid multiple fees
z Don’t carry your credit cards with you to avoid the temptation to make additional purchases
z Pay off high interest rate credit cards first
Food
Health
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Household
Insurance
z Carry only liability on older model cars because the cost to carry collision may be more than the car is worth
z Carry only the minimum required insurance
z Check your coverage
z Comparison shop frequently
z Increase deductibles
z Purchase all insurance from the same carrier to obtain maximum discounts
Personal
z Attend high school sports events instead of more expensive college events
z Cancel magazine subscriptions
z Drop your gym membership
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z Eliminate cable TV
z Host potluck dinners at home
z Make copies of your friends’ CD’s
z Meet friends for coffee and dessert instead of dinner
z Rent movies instead of going to the theater
z Use public parks and free museums
z Use the public library
Telephone
Transportation
z Carpool
z Drive small, economical cars
z Live close to work to save on commuting costs
z Use public transportation
Utilities
z Conserve water by turning off the faucet while you’re brushing your teeth
z Don’t use your dishwasher’s drying cycle
z Lower the temperature on your hot water heater
z Lower your thermostat at night
z Set your thermostat to 75 in the summer and 65 in the winter
z Take a five-minute shower
z Use lights only when necessary
z Use low water flush toilets or similar water saving devices
z Use the utility company’s budget plan
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Miscellaneous
Some of these ideas may be just what you need for a temporary solution and others may be perfect for you long term. Remember that
creating and managing a budget plays a crucial part in your financial health. For more details on money saving ideas, search our library
for information on many of the categories listed.
Copyright 2002 - 2004 All Rights Reserved
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