Guest Post - Stretch That Dollar: Living on Less

Today, I'm lucky enough to have a guest post on how to save some much-needed cash.

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Living on a budget can be a challenge, but the benefits outweigh the effort in the long run. Living frugally can not only be an enjoyable experience, it can help you save up for cars, houses or other big budget items.

Car Buying on a Budget

Particularly with an automobile purchase, it's truly is better to spend a little more on a newer vehicle in order to save yourself the hassle of costly repairs down the road. There are plenty of places where you can get your hands on a used (but newer and in good shape) vehicle for a little less. The stigma that used to surround buy-here-pay-here car dealerships is fading. Many of these places are more legitimate than they were thought to be in the past, and because they offer in-house financing, they are able to offer you more competitive rates than other dealerships. But in order to walk into those dealerships, you need to start living a little more frugally, and save a little more of your hard earned dough.

Planning

The hardest part about starting a new budget plan is the planning part. It's essential, but it can be daunting. Ever think you have plenty of money in the bank, only to get declined at the checkout counter, or get a nasty surprise when you check your account? Not knowing exactly where all your money goes can be one of the biggest stumbling blocks to starting, and successfully completing a tighter budget.

Balancing Cash and Cards

Cash is more difficult to keep track of than spending on a card, but a balance of the two can be helpful. Take a week to look at what you spend, and where you spend it. How much do you spend on take out, coffee or clothes? What about more expensive things like filling up your gas tank? Try and trim down your small expenditures to less than $40 a week. Take out $40 at the beginning of the week and use that cash for the small items. This way you can get a clearer picture of how much you spend on things you may not need.

Do It Yourself

It can be surprising how much money we spend on things that we can make for pennies on the dollar at home. Brewing coffee can be just as good at home as it is when it's bought from trendy coffee shops. Bubble baths, face scrubs, laundry detergent, cleaning supplies and other daily-use items can be made at home. This can also be an enjoyable activity for friends or young kids to get involved in, making it fun and cheap.
The best way to start your new life as a frugality champion is to make a budget and stick to it. It's alright to work gradually into a new stricter budget, making the change from lots of unnecessary spending to very little can be a struggle. But by keeping to the budget you set for yourself, you can be on your way to a wealthier you!

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Devin Perez

A recent college graduate, Devin enjoys the freedom that comes with a freelance writing career.