Budgeting on a
Low Income - Money Tips
by Laraine Anne
Barker
Here are a few additional
money-saving tips that may help you get your budget in order.
* * *
MONEY TIPS
1. Don't keep cash in your wallet if you can help it.
2. Use your cash card, NOT your credit card, for all purchases and keep careful
account of how much you spend. And what you spend it on.
3. Use your credit card only when you already have the money for the item or
service you are purchasing, or at least most
of it. Nothing puts people on low incomes into debt as
easily as incorrect use of a credit card. You need to be able to pay off the
debt WITHOUT PAYING ANY INTEREST, which means the whole amount needs to be paid
as soon as it's due.
If you have are not able to pay your credit card off as it
comes due each month, the only solution might be to cut it up and throw it
away.
MISCELLANEOUS TIPS
1. Preferably, cut out long-distance phone calls and ask family and friends to
ring YOU. If you can't, at least cut down on the number of calls you make. Try to make
all such calls when your phone company has a special
"bulk" deal that you know you can afford.
2. If you spend $5 a week on your state lottery, you could save $260 a year--with
a 100% chance of winning!
3. If you smoke, make a determined effort to give it
up. This may be very hard but it's well worth the trouble: you'll feel better
and pocket a huge savings.
4. Concerts, plays, films, video rentals, etc, may also be off budget. Remember, if
it's not necessary to survival...
I do hope at least some of these tips help you. They may even lead you to some
more ideas of your own to save money.
Finally, good luck with both your new budget and your search for a better job!
Copyright 2001 by Laraine
Anne Barker
Edited by Michelle Jones
