Harrison
February 7th, 2008, 10:58 am
Here are some tips if you are living on a fixed income---whether you are retired or receiving government assistance. Please feel free to add your own ideas!
Harrison
1. Know exactly what your income is—you’d be surprised at how many people really don’t know how much they have coming in each month.
2. Know exactly how much you’re paying out for fixed expenses such as rent or mortgage, insurance, utilities and so on. Some of these expenses will be monthly, others might be quarterly or even yearly.
3. Once you know your expenses, do your math to figure your yearly expenses then divide by 12. This will tell you how much your expenses are each month. The trick here is to put aside this amount even though the bill might not be due for a few months. When a major expense comes due, you will have the money without worry.
4. Cut back on the amount of detergent, toothpaste, shampoo, dish liquid and so on that you use. You’d be surprised at how much you can save by not wasting.
5. Make a list when you go grocery shopping and stick to it. If you use coupons, be sure you are actually getting a bargain. Take advantage of bulk buying only if you can use the items.
6. If you like to read magazines, check out your local library instead of buying a subscription. Same goes for newspapers and books. You’ll save a lot of money and won’t have to pay to get rid of a pile of paper.
7. The library is also a good place to look for CDs, DVDs and movies. Check them out, enjoy them, and then return them all for free.
8. Shop around for the best air fares if planning a trip. Sometimes you can save money just by flying out of a different air port.
9. Take care of your car. A good maintenance schedule, regular cleaning, and sensible driving can make a car last for many years. Another good idea is to continue to put the payment in the bank after the car is paid for. When you decide to buy another car, you will have a good down payment.
10. If you live in or near town, try walking or riding a bicycle. Both are good for you and you will save gasoline, oil, and wear and tear on your car.
Harrison
1. Know exactly what your income is—you’d be surprised at how many people really don’t know how much they have coming in each month.
2. Know exactly how much you’re paying out for fixed expenses such as rent or mortgage, insurance, utilities and so on. Some of these expenses will be monthly, others might be quarterly or even yearly.
3. Once you know your expenses, do your math to figure your yearly expenses then divide by 12. This will tell you how much your expenses are each month. The trick here is to put aside this amount even though the bill might not be due for a few months. When a major expense comes due, you will have the money without worry.
4. Cut back on the amount of detergent, toothpaste, shampoo, dish liquid and so on that you use. You’d be surprised at how much you can save by not wasting.
5. Make a list when you go grocery shopping and stick to it. If you use coupons, be sure you are actually getting a bargain. Take advantage of bulk buying only if you can use the items.
6. If you like to read magazines, check out your local library instead of buying a subscription. Same goes for newspapers and books. You’ll save a lot of money and won’t have to pay to get rid of a pile of paper.
7. The library is also a good place to look for CDs, DVDs and movies. Check them out, enjoy them, and then return them all for free.
8. Shop around for the best air fares if planning a trip. Sometimes you can save money just by flying out of a different air port.
9. Take care of your car. A good maintenance schedule, regular cleaning, and sensible driving can make a car last for many years. Another good idea is to continue to put the payment in the bank after the car is paid for. When you decide to buy another car, you will have a good down payment.
10. If you live in or near town, try walking or riding a bicycle. Both are good for you and you will save gasoline, oil, and wear and tear on your car.