9 Tips For Getting A Month Ahead On Your Bills
The very first thing you need to get ahead on your finances is to ascertain the actual amount that’s required to be saved. This amount should be more than or equal to the total of your one month’s expenses – groceries, utilities, rent, car fuel, gas expenses or anything that forms a part of your budget. Use a Savings Tracker to keep a track of all your savings so that you don’t end up shaking your budget. An alternate option is to live on the previous month’s salary while leaving the current one untouched.
2. Save your bonuses
Save up any extra or unexpected income received during the month. I use a proper Income Tracker to keep an account of all the incoming money and it helps me immensely in managing my finances. This includes your yearly bonus, or tax refunds or any extra paycheck. Don’t take your bonuses and tax refunds as an opportunity to spend on extravagance or things you don’t need. If you have rented out a space that you own, make it a habit to leave the rental income untouched to pay for you next month’s expenses.
3. Carpool your way to work
Carpooling is one of the most economic ways to save money. If you have a colleague of yours who lives nearby, you both can carpool your way to work rather than taking your individual cars. It can easily cut the fuel costs by half which can be saved up to pay your next month’s bills.
4. Save on electricity and food
Staying a month ahead on your bills won’t be that hard if your overall monthly bills could be reduced. Use an Expense Tracker to note down every little expense and think of the ways in which you can reduce your current monthly expenses. Is there a scope to cut down your electricity bill? Switch off the unused items and manage the temperature of your thermostat every now and then to cut your electricity bill. Similarly, you can cut your grocery budget by opting for a home cooked meal rather than eating out. Also, using leftovers of the day to prepare your next meal and doing weekly meal planning can easily save you a few extra dollars per month.
5. Start a side hustle
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