Why a tight budget actually translates into saving more
Posted By: Matt in Budget on 03/02/2016 at 14:54:43
When was the last time you heard someone refer to their budget as "tight·"
While that word often creates negative connotative meanings when you talk about money in the form of spending it and saving it, those who live within their means but aren't doing anything crazy in that regard love the idea that they play their money close to the vest.
They enjoy the challenge that is having an exact science in the form of a budget that is going to win every time, and by "win," you mean that you'll be able to save money even though that budget isn't filled with an overly expensive income (or multiple ones), yet still is responsible for expenses just like any one else.
So how exactly can you take a budget that has little room for error and actually save more·
Really, what it boils down to is a mindset, a means and a thought process that makes your budget one that isn't focused on the basics only or deals directly in generalities but rather specific to where your money goes, whether it's something as simple as a daily cup of coffee that is a weekly routine or not forgetting about budgeting for your gym membership or that weekly movie date with yourself or that special someone.
Even though your budget is tight, you still are able to save because you have taught yourself how to get by and be a little more thrifty with every purchase you make on that very same budget you hold so close.
You shop smarter, and that starts with clothing and food, primarily. You tend to plan meals ahead and eat dinner at home, and decide to opt out of buying food out at restaurants despite the convenience element involved.
Furthermore, you tend to shop for clothes in the off seasons or look at coupons, namely online ones, to save money and only shop when the prices are right. You don't buy at full price, but still manage to save money because you know exactly what the right time to buy truly is.
And finally, you don't just try to save money in the most obvious places, like cutting expenses that you don't need, but instead look at other ways to generate or take advantage of income, whether that's a change jar that you started that is responsible for you buying a flat screen TV or taking a part time job that allows you to work from home.
Being on a budget is one thing, but a tight one is just as rewarding when you're so precise and perfectly balance spending and saving even when there isn't apparently much of the latter to go around.
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