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Budget Planning to Save

Interested in investing money properly and good credit When making big investments or life changes, make them carefully with your mate.


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Budgeting Your Money

Budgeting your money will lead to saving money, and it does not mean you have to give up everything your love, but it means you have to stand back and look at the big picture listening to saving money tips. If you have credit card debt you can’t pay, then it is important to figure out how to meet your obligations and not ruin your credit. Working out a plan together can be done by following some simple steps.

Household Budget

Sometimes that means working a part-time job in addition to full-time employment. This is difficult physically and mentally and certainly exploring other methods to cut expenses is worthwhile.

Or, if you are barely making ends meet, sit down with your spouse and look for ways to cut costs. There are many ways to you can save money on a household budget by cutting expenses but you have to be disciplined. Make a plan and stick with it each month. Your ultimate goal is to learn to save money with at least 10% a payday. Look at your fixed expenses first.

Reducing your House Payment

Rent or a house payment is the number one consideration. If you have a house payment you may be able to refinance at a lower interest rate, or if you have a 15 year mortgage, you may need to get a 30 year loan. If you have a variable interest loan, change to a fixed rate at the lowest interest rate you can find.

You can also increase your insurance deductible to lower your house insurance payment. Shop around to get the best deal on your house insurance. If you have an unused bedroom you could take in a boarder which would add to your income.

How To Manage Your Money (50/30/20 Rule)

Utility Bills

Utility bills take another big bite out of your income and you have to take into account higher heating or cooling bills depending on the time of year. Turn your heat down at night to cut costs. Installing a programmable thermostat can provide good savings. Use shades and drapes to keep the cold out in the winter and open them in the summer. Make sure your windows are well-sealed so air isn’t leaking in.

You can use a polyethylene sheeting to seal your windows, which comes in a variety of widths and thicknesses. It is applied directly to the glass window so it slows down the heat conducted through the window. Tape it to your window frame with clear packaging tape.

Dress warmer in the winter and keep the thermostat lower, then in the summer dress for hot weather and make use of your ceiling fans. Use compact-florescent bulbs and make sure they are turned off when you aren’t using them. Turn off computers, TV’s and other electronics when you aren’t using them

Transportation Costs

The next large item is transportation costs which may include a car payment, car insurance, fuel, and car maintenance. If you have to buy a new car, buy used as you lose money just by driving a new car off the lot. Try to find one with good gas mileage.

You can also increase your deductible on your car insurance after shopping for the best deal. If you can carpool with someone to work that is an immediate saving.

Cut down on your errands, just going to the grocery store once a week and combine other errands when you are already out as fuel is a big expense. Change your oil yourself if possible and also your air filter.

Chicken and Rice Casserole


Ways to Cut Food Cost

Money-saving tips on groceries is not that difficult. Cut out the coupons from the Sunday paper get digital coupons or find those that are available online. The coupons you get in the Sunday paper are typically worth more than the cost of the paper.

Shop sales and if a staple item you use regularly is on sale buy more than one. There are also a lot of coupons online.

You can also save money on groceries by buying your cheaper cuts of meats, and if there is a farmer’s vegetable market near you, their vegetables and fruits are usually lower priced.

  • Have a couple of meatless meals a week.
  • Make casseroles or crockpot meals that can last for two meals and will save money.
  • Cut down on buying junk food.
  • Home-baked snacks will also save you money.
  • Plan your menu a week at a time before shopping.
  • Fast food, while not particularly healthy, is also expensive.
  • Bring lunch from home to work most of the time.
  • Try to use up leftovers so you are not wasting food.
  • Alcohol and cigarettes are expensive and you could choose to give these up or in the case of alcohol, cut back on how often your drink.


Health and life insurance can be a big expense depending usually on your job's plan. Of course, developing healthy habits with regard to food and exercise will keep you healthier; there are still times medical expenses can be a burden.

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Buy generic drugs if available. Use urgent care instead of the emergency room if possible. Monitor insurance claims to make sure they get paid by the insurance company. They often make mistakes.

Consignment Shop



Obviously, you have to have clothing, but that is another area where you can take advantage of the sales. Stores that carry marked down clothing are great to find top name brands at rock bottom prices. You don’t’ know what is available ahead of time, but it is worth checking them out.

You can also find great used clothes in consignment shops and sometimes at the Salvation Army. People do give away things they have never worn. Stay away from dry clean only clothing. Buy wisely so you can mix and match tops with a couple of pair of slacks or skirts which will make it seem like you have a larger wardrobe.


Entertainment can be a big expense, but you can also keep it simple. Having some friends over for a simple potluck with some games for entertainment can be fun.

Children love to play various board games and you could have a family night each week where they get something for dinner they love and then games for the family.

If you have cable television, eliminate the premium movie channels to cut costs or if you are really struggling you may need to drop the cable altogether. You can also find cheaper alternatives to TV entertainment with Hula or Netflix.


If you use cell phones you could drop your land line all together. If you're not under a contract, try to can find a cheaper plan and you may be able to cut back on your minutes.

Retirement Accounts

Putting money into a retirement account (401K, IRA, etc.) is important for your future and should be included in your budget. If you are contributing to an annuity or other accounts where there is no tax break or matching funds, suspend that for the time being,

Be sure you got the tax credit last year for your retirement contributions if your adjusted gross income in less than $25,00 for a single and $50,000 for a couple. There is a tax credit for you of up to $1000 for lower earners which is often overlooked.

Empty your closets of clothing or other items you aren’t using, and donate them to a non-profit and get your receipt to write off on your taxes or you may have enough to have a garage sale.

It is not a good idea to get the money from your 401K to pay bills as the government will charge you taxes and a 10% penalty if you are under 59 !/2 years. It is possible to borrow money from some 401K’s if you have enough saved.

This works out well as they put your money in a savings account which gives you some interest but the interest rates are typically low. Your goal is it to not deplete your retirement income so you can use it in retirement.

Budgeting 101: How To Do A Monthly Budget If Paid Biweekly Or Every Two Weeks


If you can cut down your monthly expenses in some of the ways I have suggested, you should have a little more money to pay toward the principle of the credit card. It may take a while but you will pay it off over a period of time. It is not easy to go on a strict budget and you will have to reward yourself a little bit now and then.

The result of not changing your spending habits may be losing your home and ruining your credit. If you can keep your spirits up by knowing that you are making progress and this is not forever.

This attitude will help you walk through this process a day at a time. Budgeting your money will ultimately let you start saving money and even a small amount of money will build over time and give you that financial security you long for.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.


Pamela Oglesby (author) from Sunny Florida on August 16, 2019:

Hi Erin, Dry cleaning is expensive and a hassle sometimes. Thank you so much for your comments

erinshelby from United States on August 16, 2019:

Dry clean only clothing is a thorn in my side! I've bought those items from thrift shops, only to realize when I got home that it requires special maintenance. Good tip you give to stay away from it.

Pamela Oglesby (author) from Sunny Florida on October 07, 2012:

pstraubie, We are retired and have cut expenses where we can also. I am glad the hub helped you. Netflix sounds like a good deal. Good luck with finding any other ways to cut expenses. Thanks for your comments.

Patricia Scott from North Central Florida on October 07, 2012:

Hi Pamela

thank you for these tips. I am now retired so every dime is important in the scheme of things. One thing I have done is I no longer have cable. I purhased a roku which allows me to get many free sources of entertainment as well as news. I do have netflix which I pay 7.99 a month for.

I am reviewing all of your tips to see if there are other ways to save that I have overlooked. So glad I found this.

Pamela Oglesby (author) from Sunny Florida on October 07, 2012:

cheeta, Utilities are getting so much more expensive all the time it seems. Thanks so much for your comments.

cheetah786 on October 07, 2012:

great tips on utilities.. utility expenses form bigger portion of total expenditure.. their planning demand 24/7 care..

Pamela Oglesby (author) from Sunny Florida on January 25, 2012:

vijaya singh, I'm glad you found this hub helpful and I appreciate your comments.

vijaya singh on January 25, 2012:

it is a useful information about budgeting . tips very good in terms of expenses. Nice blog

Pamela Oglesby (author) from Sunny Florida on June 07, 2011:

Contractor Accountants, Thank you for your comment.

Contractor Accountants on June 07, 2011:

Great tips thanks for this tips

Pamela Oglesby (author) from Sunny Florida on February 22, 2011:

Support Med, I fully agree. Thanks for your comments.

Support Med. from Michigan on February 22, 2011:

Budgeting and saving takes time and discipline. Very important. v/r

Pamela Oglesby (author) from Sunny Florida on January 18, 2011:

Howard, Thank you for your advice and your comments.

Howard S. from Dallas, Texas, and Asia on January 18, 2011:

Congrats on the win! This isn't the first of yours I've read--I like your style. Two quick tips, if I may:

1) Vary your column width. Everything here is full-width.

2) To get rid of those extra spaces between text capsules (assuming they weren't intentional), when you paste from your word processor, do a paste-delete-paste. I don't know why it works, but it's easier than anything else.

Pamela Oglesby (author) from Sunny Florida on January 12, 2011:

Becky, I'm glad you liked the hub. I appreciate you comments.

Becky from Oklahoma on January 12, 2011:

Great budgeting tips and ideas. This is something that most of us can benefit from by putting these suggestions into action. Thanks for an excellent Hub.

Pamela Oglesby (author) from Sunny Florida on January 10, 2011:

Sarj Sagan, Thanks so much for the comments.

Pamela Oglesby (author) from Sunny Florida on January 10, 2011:

Malcom, I am so glad this hub was helpful to you. I appreciate your comments.

Purple Perl, I appreciate your comments and you congratulations.

Esther Shamsunder from Bangalore,India on January 09, 2011:

Excellent hub with good info to use. Voted you up!And useful too!Congrats on the win!

Malcolm_Cox from Newcastle, England on January 09, 2011:

Great hub with some tips I'll actually put into action. Rated up!!

Pamela Oglesby (author) from Sunny Florida on January 08, 2011:

drpastorcarlotta, I appreciate your kind words and comments. I'm glad you enjoyed the hub.

Pastor Dr Carlotta Boles from BREAKOUT MINISTRIES, INC. KC on January 08, 2011:

Very, Very, helpful Hub!!! Thank you so much!! You are amazing!!! God Bless you!!

Pamela Oglesby (author) from Sunny Florida on January 08, 2011:

K9keystrokes, I appreciate you comments and the congrats. Of course, I am very happy about the win.

India Arnold from Northern, California on January 07, 2011:

Nicec job Pam! Congrat's on the win!


Pamela Oglesby (author) from Sunny Florida on January 07, 2011:

Tina V, I think the heaters would work well for some families. Thanks for the suggestion and your comments.

TINA V on January 07, 2011:

These are great practical tips to save money. I agree with you that cutting down on junk foods can lessen our expenses. It can also improve our healthy diet. haha...

Just an additional advice, instead of using a centralized heater, we can buy one or two smaller heaters that are easy to be transferred from one room to another. In this way, we can only use it if needed, but it is advisable to close the rooms for faster heating. I guess this is more advantageous for small families with bigger homes. It will help control electricity expense.

It's a great way to start 2011. Happy New Year!

Pamela Oglesby (author) from Sunny Florida on January 07, 2011:

Thank you for the congrats! I appreciate your comments.

Michael Jay on January 07, 2011:

Wow! Congratulations on your win, Pamela! This is truly a wonderful hub. Great information as well. :)

Pamela Oglesby (author) from Sunny Florida on January 06, 2011:

Loren's Gem, I'm glad you enjoyed the hub and thank you for the comments. I appreciate the congratulations as that is very exciting. Happy New Year to you also.

Loren's Gem from Istanbul, Turkey on January 06, 2011:

Great share on saving money! Thanks for sharing these brilliant tips. Congrats on your win Pam and a happy new year to you! :-)

Pamela Oglesby (author) from Sunny Florida on January 06, 2011:

Glemoh, Maybe you don't need to save money after all. I

Thanks for your comment.

Glemoh101 on January 06, 2011:

Why i need to save money ! while I'm making money online.

Pamela Oglesby (author) from Sunny Florida on January 06, 2011:

Hello, Thanks for your comments and I'm glad you enjoyed the tips.

Hello, hello, from London, UK on January 06, 2011:

Fantatstic tips and well put together hub.

Pamela Oglesby (author) from Sunny Florida on January 05, 2011:

Phoenis, Thank you so much. It is exciting.

Oseansmsunsets, Thank you for the congratulations and I appreciate your comments about the hub.

Paula from The Midwest, USA on January 05, 2011:

Hi Pamela, Thanks for sharing a great hub about budgeting. Congratulations on your win as well! :)

PhoenixV from USA on January 05, 2011:

Congratulations Pamela!

Pamela Oglesby (author) from Sunny Florida on January 05, 2011:

Audry, Thanks, I didn't even know I won. I check earlier today and it wasn't posted yet. I appreciate your comment.

Audrey Kirchner from Washington on January 05, 2011:

Congrats! I know there was someone else's name on here yesterday but I'm SO glad you won!!!

Pamela Oglesby (author) from Sunny Florida on January 05, 2011:

Anginwu, I think that is so true. I appreciate your comments.

Granny's House, It sounds like a wise more. Thanks for sharing your experience.

Cassie Ann, It sounds like you were great parents. My youngest son was able to do that also. Thanks for sharing your experience.

Cassie Ann on January 04, 2011:

Great hub, Pamela. I believe it is part of a parent's responsibility to teach their children from early on about saving money and finances in general. You can start teaching children about money matters when they start receiving cash gifts. By the time my sons were old enough to drive, they had saved a nice sum for their first cars.

Thanks for all the info!

Granny's House from Older and Hopefully Wiser Time on January 04, 2011:

Great tips. My husband and I consolidated our high interest loans and credit into one loan getting rid of a lot of high interest. I am so happy we did it. We will be dept free in five years

Thanks for the great tips.

anglnwu on January 04, 2011:

Good tips to start the new year. We can all use these budgeting tips when the economy is not doing so well. Great hub.

Pamela Oglesby (author) from Sunny Florida on January 04, 2011:

rpalulis, I like Dave Ramsey also and I am glad that folks used more cash. It seems we think a lot alike. Thanks for your comments.

rpalulis from NY on January 04, 2011:

I'm a huge Dave Ramsey fan. These are great budgeting tips. I have to say I was very pleased to hear on the news that many retailers noticed more folks using cash during the holiday spending season.

Pamela Oglesby (author) from Sunny Florida on January 04, 2011:

Amber, That is so true. They just aren't learning when they are young, Thanks for your comments.

Amber Allen on January 04, 2011:

Hi Pamela

This is an extremely helpful hub to help anyone who over stretched their finances at Christmas.

I think this sort of information should be taught in schools. Too many people today have no idea where to start with managing their money.


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