Tag Archives: budget

7 Reasons Why Your Budget Isn’t Working For You

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Have you really asked yourself why your budget isn’t working for you?  Now, clearly, you must know that a budget is absolutely critical to have if the goal is to pay off debt?  You might be running into an issue where your calculated numbers just aren’t matching up with what you’ve been working with.  You might be overspending, or you might be forgetting where some money is going, therefore this calls for a quick analysis to pinpoint where the problem really lies.  Below you’ll find some advantageous tips that might steer you back on track.  Budgeting and tracking finances is one of the more difficult things in life, but this can be mastered and you can get ahead.  Let’s take a look!

10 Tips That Will Help You Overcome Financial Obstacles

Bad spending habits are most often the reason why a budget isn’t working!  However, it isn’t always easy to find these errors, as mentioned. Admitting there is a spending issue and not enough accountability is a starting point in a positive way!  Now, to really get an achievable budget working perfectly you need to begin sizing up what expenses you can cut back on or remove altogether.

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Tip 1:  What expenses to cut back first?

Perhaps cutting back on driving might be a way for you to begin saving more and meeting a better budget?  For instance, you could park a few blocks from work to save on city parking costs and also to help your physical health as well.  Here, with this tip you can save medically and on everyday expenses!

Tip 2:  Only use cash when out and about

That’s right, leave credit cards, debit cards and your checkbook at home!  Only allow for cash purchases and you’ll find this will help you stay on track of a budget.  You’ll not be able to overspend this way, and you’ll save far more!

Tip 3:  Visualize your gains when you establish financial goals

In order to keep yourself on track, visualize where your saving and budgeting is going to get you in the future.  If you’re saving for vacation, think of the stress relief you’ll have for having planned and prepared ahead of schedule.  This same strategy can be applied to home improvement ideas and other necessities.

Tip 4:  Think about a purchase before actually spending

This is an age old strategy that will really work for you if you apply it correctly!  Of course, this is one that has been discussed time and again, but it seems to be one of the hardest to stick to.  Impulse pending is a hard habit to break.  If you don’t have any necessity shopping to carry out, make sure you carry only a small amount of cash to avoid the temptation of immediately buying something you really don’t need.  However, make sure you’re covered financially, in case of an emergency or mishap!

Tip 5:  Detoxify your budget

You simply have to work out the kinks wherever they may be lurking!  Take the time to challenge yourself to save more and spend less in smarter ways!

Tip 6:  Record every transaction

You have to stay on top of your spending and where your money is going.  Carry a small notebook and pen at all times!

Tip 7:  Always write down all of the necessary expenses

Not doing so can lead you astray and make you lose track of your expenses.  From allowing for extra gas, to groceries, to prescriptions and more–know where every penny is going.

 

 

 

 

 

 

Canadians Budgeting For Rising Grocery Costs In 2015

Could Canadian debt reach upwards of $1,084 trillion by the end of 2015?  According to the most recent study carried out by The Canadian Lifestyles 2015 it very well could.  While Canadians are certainly interested in paying down their debt they aren’t interested in cutting back on food, nor are they seemingly too concerned with their spending habits at the holidays.  Could this be a bad sign for the wallets of most?  Financial analysts think Canadians are becoming less frivolous and more sensible with their spending habits.  However, over 58% of Canadians are finding it harder and harder to cut back on grocery bills.  Instead these are rising. The tips we are offering here are focused on ways you might still enjoy excellent, healthy food choices, but find ways to save at the same time.  Budgeting certainly can happen, but you have to be willing to go that extra mile to shave off some of these costs.  Let’s look at some of these now!

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Canadians Budgeting Effectively For Rising Grocery Costs

25% of Canadians across British Columbia currently purchase generic grocery store brands, which saves them a great deal of money.  While you can’t trust a generic brand name for every product, you’ll find some of these have no real difference, in regards to main name brands.  While you might not want to buy generic cereal, you can purchase generic sweetener and never notice anything out of the norm.  In fact, for items such as: household cleaning supplies, flour, salt, and others–there is no real discernible difference at all.Below are some other amazing ways you can hope to keep some of that green in your wallet and not in a shop vendors hands!

Budget Tip 2:  

There is nothing wrong with shopping at a discount store, and in fact, right now, about 10% of Canadians do just this!  For instance, The Real Canadian Superstore helps shoppers save more than 10% in grocery store costs.  This offers a great alternatives for those Canadians who desire to stick to a budget no matter what.

Budget Tip 3:

Have you considered shopping at discount produce markets?  These are known to save about 35% on fresh fruits and veggies, meaning a great deal of savings for you!  It might be wise to check these out if you have more trouble budgeting other grocery items.  Safeway, within Canada, offers great discounts and is known to sell superior quality, organic fruits and vegetables too.  You can also try out farmers market locations, because you’ll save with these vendors, much more so than at a traditional grocery store chain.

Budget Tip 4: 

Why not request coupons directly from manufacturers?  You can actually email manufacturers you regularly buy products through and more than likely they’ll be more than happy to send you coupons.  If you do this every few weeks you’ll notice the savings, but you have to put that excess money up to see it grow as well–that’s not to be forgotten!

Budget Tip 5:

You should stockpile on groceries when they are having door busting sales, specifically considering how high routine weekly groceries now are.  In fact, shoppers across Canada can save above 25% on their groceries when they purchase at deeply discounted prices and stockpile these items in large amounts.  Of course, you have to stay on top of the weekly circulars and local sales to really gain an advantage.  If you’re a dedicated budget shopper, and you clip coupons, this might be one of the best tips to save money!

Save on food