Essay about Budget Tip

673 Words Jun 13th, 2013 3 Pages
Budget Tips

Very few of us are disciplined budgeters. We are used to spending our income and not really ever checking how much is being spent.

This is a list of tips to help control and/or tighten a budget. This list is not exhaustive and its purpose is to show some of the mechanisms you can use.

A. Groceries/Housekeeping etc. * When you are going shopping write a list of the items you need. Do not fall for the “impulse buy” when you are in the supermarket. Additional purchases should be limited to items genuinely omitted from the list. If much-used items, such as toilet rolls etc. are on sale at bargain prices then purchase a supply of them. * There is no denying that “fast food” and pre-packaged meals are quick
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* At end of the month/quarter can sometimes be a good time to buy as the merchants may be trying to get their turnover figures up. * Look at buying used or demonstration items such as cars, furniture, and appliances. The discounts can be very attractive. * Be wary of a car dealer’s offer of insurance and loans. They are invariably more expensive. Shop around before you purchase the vehicle. * Watch for the sales such as end-of-tax year, closing down and post-Christmas.

D. Energy Costs * Monitor your use of air-conditioning, heating and lights. This will also help the planet. * Remember, every degree lower or higher increases cooling/heating costs by 10%. * Shop around and compare tariffs.

E. Gifts * It is easy to plan gift buying as you know beforehand when birthdays etc. are due. Buy when goods are on sale such as the post Christmas sales * If you are able try making some gifts yourself. It can be fun for all the family and much treasured by the recipient. * The same goes for your own birthday or Christmas cards. * Suggest to friends and family that you start sending e-cards. F. Due dates — credit cards and bills * Credit cards should be paid off in full on the due date to avoid any interest. * If a credit card is not repaid in full, interest will be charged on the balance outstanding and all new purchases too. (I.e. you lose the interest-free benefit). * Some bills

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