Existence can be defined as living expenses, and maintain a certain standard of living. These include necessities such as food, accommodation, transportation, communication, electricity, water, household supplies, clothing, medical facilities, education and entertainment. Depending on lifestyle, geographic location, and the purchasing power of an individual, standard way of life and life is something not everyone can easily change, as they have long developed habits and styles. In the present time, due to the global economic recession, inflation reached high peaks, so that living expenses are also increasing. There is an increase in income and wages of people with rising inflation, but it is not in the same ratio. With the rising cost of living, it becomes more difficult for people to maintain their lifestyle and standard of living.
In general, you should limit the expenditure to be no more than a third of your net salary. For example, if your salary after tax is $ 2,100 per month, your rent or mortgage should not exceed $ 700 per month. If you spend over a third of your net pay on your living quarters, then you need to make some changes. You should consider a roommate or move to a more affordable home.
A good way of saving money is by thinking of moving to a smaller house. Look at it as an improve, you will pay less for the utilities and thus you will be able to save some money for a holiday to a better location.
One of the biggest unnecessary expenses that people go to eat at restaurants. Today, people are eating more often than ever. The restaurants are expensive. You can save money by eating at home more often. Also, try to buy groceries in the warehouse stores. You can often save a lot of money this way.
Stop wasting money on expensive food that you could cook at home with no problem. Eating out is one of the most expensive habit one could have. Try and cook at home an you will see that in no time you will start saving money. Even if you don’t cook so well, in time you’ll see that your cooking will improve. Not only is this a way of saving money but it’s also your challenge to what you can learn and impress the people you love.
Must plan menus. Do not cook foods that will lose. Buy basic ingredients instead of ready to make packets. Prefer more do-it-yourself products. Avoid eating a lot. Try growing your own fresh fruits and vegetables.
Contrary to some opinions, you do not need to buy the latest fashion merchandise. Each year change modes, and many people feel they need to buy new clothes to stay in style. Instead, you must purchase classic clothing style that rarely goes out. As an alternative, you can purchase at discount stores or second hand stores. Only buy clothes that you really want to wear. Find special offers in different stores. Buy different clothes, and combine to make different outfits. Use the old clothes in any way possible. Go for quality when buying clothes, and not take the brand name as necessary. Buy taking the company is also more profitable.
Before spending money on entertainment, you must ensure that you are able to pay all your bills. Invite friends to come over and bring sodas and something to eat instead of going out.
If you live above your means, and we believe that there is nothing that you are willing to give, then you need more income. You will either need to find another job that pays a higher salary or you might consider taking a second job to make some supplementary money. A part time job could do the trick, especially if you find one to do from home. Keep an eye open for any extra money making activities that you could handle.
6. Address your utilities
Turn off the light if you are not in the room. Also plug out all electronics while you are not using them. Unplug your TV and toaster. Plug them back in only for the time you use them. Also, don’t let the tap running when you are brushing your teeth and try to take make showers than filling the entire bathtub with water. Instead of placing electronic devices in standby mode, stop completely. Using electrical appliances that consume less energy and electronics such as fluorescent bulbs. Buying energy efficient equipment reduces living expenses considerably.
Minimize the use of power. Can reduce the consumption of electricity and gas in winter. You can turn down the thermostat a few degrees, and the use of sweaters and additional warm clothing to stay comfortable. You can also prevent cold coming in through the door is you put a piece of plastic against it. This way you will isolate your door and the temperature will be the same.
7. Quit smoking or any other addiction
Nobody says you should live a convict existence but just cutting down a little on your expenses to see you reap huge financial benefits. You can also reduce the cost of living by reducing alcohol consumption and smoking. Just imagine how much money you spend on cigarettes and other consumables like junk food and sodas. If you could quit these expenses, then you will not only save money but also have a healthier lifestyle.
8. Cut down on travel
Use public transport when traveling more. Regularly check and maintain your vehicle. You can also feel free to attend community events free of charge. Also, carpooling is a good idea of sharing a car with someone in order to get to a common location. This technique is quite popular these days and it’s also a great way to socialize.
9.Books and other magazines
Use the public library instead of buying more expensive books. Also, en all subscriptions to your magazines if you have any. Saving money is more important than gathering piles of magazines that eventually no one will read ever again. If you enjoy books, borrow from friends or from the public library. This way you can enjoy reading without worrying about money.
10. Telephone and other ways of communication
Try and keep you invoices as low as you can and also keep them regular. Subscribe for only basic local service and try and avoid inside wire maintenance fees and call waiting or call forwarding. When it comes to long distance, pick the best service. You might as well try changing to VoIP technology. This will require a steady internet connection but it is excellent when it comes to quality and more affordable when it comes to your pocket.