staying within your budget

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Staying Within Your Budget


The best budget is the one that works for you!


Making Your Budget Workable

• Don’t be afraid to adjust your budgeted amounts for your expenses as necessary.

• Seek ways to trim your variable expenses.

• If you have trouble keeping track of your expenses, simplify your life by using The Envelope Method.


The Envelope Method

• The Envelope Method is an easy 3-step process that makes keeping track of your expenses a cinch.

• Use cash for all expenses. If you need to pay a bill from your checking account, then deposit the cash to cover the charge.

• Here is the process, step by step:


Step 1: Divide and Conquer

Cash Your Paycheck

Envelope 1 Groceries

Envelope 3 Gas

Envelope 2Clothing

Envelopes 4+ Make an envelope for each expense in your budget.

Put in the cash to cover that expense.


Step 2: Use Cash for Your Expenses

Envelope 1 Groceries

ONLY Groceries

Envelope 2 Clothing Money

ONLYClothing

Envelope 3 Gas

ONLY Gas


Step 3: Effortlessly Limit Daily Spending

• Make a daily “Spending Money” envelope.• Use for: Lunch, parking, and more.• When it’s gone… Stop spending!

Tip:Spend it wisely!


The Envelope Method also gives you a better sense of your

money!


Still Having Budget Challenges?

You have 2 options:• Make more money• Reduce the amount that you spend


Reducing the Amount You Spend

• Reduce your cable plan• Change to less expensive phone plan• Find a home that costs less

Tip: It’s easier to make cuts in your variable expenses.


Energy Savings

• Turn off lights when you leave the room.• Switch to more energy efficient light bulbs.• Unplug your electronic devices when they aren’t

being used.


A trip to the grocery store is one of the best places to save money!


Sales

Food Savings


If you buy a product on a regular basis, you might as well take advantage of

the discounted price!

Food Savings


Planning your weekly menu around what’s

on sale at the grocery store that week

Significant Savings

Food Savings


Savings Card Programs

Food Savings


Savings Card Programs give you a wider range of discounts to take advantage of!

Food Savings


Some stores may have a blanket discount for members,such as 10% off the total bill.

Food Savings


Coupons

Food Savings


Coupons are your most potent weapon against the grocery bill!

With coupons, you can turn a $200 grocery billinto a tiny fraction of the cost!

Food Savings


Stockpiling

Food Savings


When used in moderation, buying in bulk can be a great

way to save money!

Food Savings


Tips for Buying in Bulk

• Don’t get carried away! Expiration dates still apply.

• Fewer trips to the grocery store save you time, money, and gas.

• Divide purchases among friends.


Self-Reflection Questions:

• How can I reduce the amount of energy I use?• Do my favorite stores offer deals, discounts, or

additional savings on top of coupons?• Do I take advantage of the benefits of buying in

bulk?


Action Tips:

• Reduce your energy use as much as possible.• Sign up for Savings Card Programs.• Find coupons for the items you buy all the time.

staying within your budget

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