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Readers Respond: Best Budgeting tips

Responses: 8

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From the article: Monthly Budget
Budgeting can be a tricky process. Read and share budgeting tips. These can be money saving tips or tricks that help you stay on budget.

Really?

Question: so every two weeks (or for us it would be every week) I have to go to the bank and withdraw money from my paycheck that was directly deposited? Seems kind of inconvenient . . . .
—Guest Mary

On Benefits (Social Security)

The only thing that saves my *** is to buy prepaid grocery store gift cards for $50 a month. Or Walmart gift cards. This is the only thing that has ever worked for me, so that I'm not starving at the end of the month!
—Guest Melody

stop paying interest

pay all credit card and phone bills right away. it's better to have a balance of zero on both your savings account and your credit card because of interest rate the bank gives you on your savings account is about 2% while the average credit card interest rate is about 18% Ask your self what's the use of making 2% when your paying out 18% ?
—Guest double ray

Allowances!!

I agree with tmck99. I would literally give out of money with two weeks til payday until I started giving myself allowances. If I go over allowance, I record it in my checkbook as negative. That really makes me think about what I'm spending. Also keep a ledger for one month--I found out that fast food was taking WAY more of my money than I wanted it to. :)
—Guest Liz

Give yourself an "allowance"

It seems like allowances are only for kids, but once I started giving myself a weekly allowance in cash (I called it "fun" money) it was easier to stick to a budget.
—tmck99

Work as a Couple

My budget wasn't working because my husband and I would both spend money out of the same category without talking to each other about it. Once we started having five minute nightly budget meetings that stopped, and now we are able to stay on budget. The meetings make all of the difference!
—Guest Sarah

Stop Using the Credit Cards

I kept using my credit cards for the rewards, but it wasn't until I stopped using them that I was able to stay on budget. Once I realized I could overdraw if I overspent, I was able to keep track of everything.
—Guest Dave

Use Cash

The easiest way for me to track my expenses is to use cash for my clothing, groceries and fun money. This way I don't keep going over each month.
—Guest Stephanie

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