The Ecomony And Me
It's quite obvious that with today's economy that the majority of consumers are spending differently than they would if our economy was in better shape. I know that I have had to change my mind set when making a purchase. I have to ask myself, do I need this? Is this a necessity? Can I afford this? What bills have to be paid? Are any overdue?
I am already spend thrifty yet come the month of July I have to tighten my purse strings even more. My youngest daughter graduates the beginning of June and the end of June she turns 18 years old. She is currently getting social security death benefits that stop at that time. Even if she were to attend college those benefits are no longer available. Because of that situation I won't be able to afford my mortgage, property taxes, water, sewer and insurance on top of the other living expenses, gas, electric, food, medical, dental, car repairs and the hidden costs that pop up expectantly. Needless to say my purse strings will suffer the tighter and tighter I have to pull the.
My game plan is to have my older daughter, husband, grandchildren and youngest daughter take over the condex and I am renting an apartment by myself. The purse stings will be loosened but I still have to cut back on expenses. I have a mental check list of how I can save money to help me live within my means. Below are the bills that come first and then how I will balance the remainder of my budget.
- Rent - I get paid bi weekly and have made arrangements to pay my rent every two weeks.
- Electric - I am working on getting an estimate on what the average bill was based of last years usage. They will arrange a payment plan that allows me the same payment every month for 12 months. At the end of the year if I owe them a balance I will pay that balance or if they owe me anything it will be applied to the next bill.
- Groceries - I plan to shop every two weeks. I will buy more store branded items because they usually cost less. I will be reviewing the sales flyers, base my shopping expenses on that, use coupons and make a meal plan so I know what is needed. I will make my own lunches for work, cut back on snacks and buy a meat package deal from a local butcher that will last me two weeks. Some of the meat will be divided up and placed in freezer bags and frozen. Any leftovers will be put in containers and frozen for future use. No tossing out food, that wastes money.
- No going out to dinner. Simple easy inexpensive meals can be made at home.
- No cost entertainment. Have game night, rent movies, play games on the internet, visit family and friends.
- No buying Dunkin Donuts or Starbucks. Either bring coffee from home or have coffee from work.
- When I see things are on clearance or sale I buy them for future Christmas or Birthday presents. I will keep a container in my spare room and store these items until they are needed.
- Instead of buying one card for $2.99 I will buy a box of assorted cards for Birthdays, Get Well or Sympathies and put them away until I need them.