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Dine out less.īut if you’ve already budgeted and you still need more cash flow, turning off some lights and using an extra blanket or two at night won’t hurt.ĭo you ever feel like your money is going out the door as fast as it’s coming in?
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Find a cheaper apartment or recruit roommates. If you answer yes, focus your time and attention first on those categories. Are there problem areas where cutting back would create greater results? So before you invest in some space heaters or start lugging rocks into your bathroom, evaluate your overall spending.
Bevening out family cashflow budgeting free#
That puts it towards the bottom of the average American’s budget.Ĭutting your spending on housing, transportation, or food by one-third would free up more cash flow than reducing your utilities by half. Where do utilities fit into the picture? According to Nationwide, families spend an average of $2,060 on utilities each year. That’s a lot of money flying out the door each year! Here’s a breakdown of the average American’s annual consumer spending… But if you’re working toward financial independence, you likely have greater obstacles to overcome.
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If you’re backed into a financial corner or new to saving, it’s not a bad place to start. Or maybe it was your family!īut is it really a good idea to cut back on utilities? Maybe you knew a family growing up that used all these strategies to make ends meet. Manically unplugging every appliance that’s not in use. Putting rocks in the toilet tank to save money on water.Ĭranking down the thermostat in winter and cranking it up in the summer to save on power. Penny pinchers and smart savers have developed dozens, perhaps hundreds, of ways to save money on their utility bills. But keep your eye on the ultimate prize-building wealth for you and your family. Find a few money savings projects that you enjoy. That doesn’t create wealth and prosperity-it can just cause more suffering. Obsessing over coupons, stressing over recycling, and cutting too many corners can reach unhealthy and even pathological extremes. Coupon clipping, saving on utilities, and thrifting may help you knock that debt out faster and free up the cash flow you need to start building wealth.īut don’t mistake the means for the end. Let’s say you have deep credit card debt or a spending problem. Some people may need extreme measures to do that. In this day and age, that means building wealth. Your financial top priority must always be providing for those you love. But sometimes there’s a good reason to raise an eyebrow at super frugality… There’s wisdom to defying the crowd and marching to the beat of your own drum. Will you get funny looks? Almost certainly. Could reusing a plastic lid as a paint palette save you money? Sure! The same is true for bartering with store clerks. However, there’s a fine line between inspiring and weird, and the super frugal sometimes cross that line. Saving money with french toast? Sign me up! You may even find a few fun money saving projects that are worth your time. The creativity and grit of the super frugal are sure to put a grin on your face. The world of the super frugal can be an overwhelming place.