Seven Steps You Can Take Today to Gain Control of Your Household Budget

Does your household budget feel like it is getting away from you? Somehow, we may feel if we could just make 10-15% more each month things would be so much better. But what if we could save 10 or 15% a month? You can, if you are willing to do some work, and perhaps make some sacrifices. Here are 7 steps you can take today to get control of your household budget.

1. Know Your Total Income VS Your Total Expenses

It is hard to get control of your budget if you don’t know your total net income vs your total net expenses. This will quickly show how big your challenges are and how significant your steps may have to be to get it under control.

2. Cut Down on Energy Use

Here’s a way you can help the planet along with your budget. Minimize your energy use by lowering or raising thermostats by a few degrees. Close off unused rooms and shut vents. Make sure you are using the sun to your advantage. Turn off lights when rooms are empty. Consider hanging small loads of laundry to dry instead of using the dryer. Turn down your water heater. It is a budget-friendly step you can feel good about!

3. Reduce Cellphone, Internet and Cable Costs

Face it. These have probably gotten out of hand. Reel them in by comparing rates with new providers or asking current providers about other, less expensive options. It may take a digital diet to get things back under control. Do you need 150 cable channels? Did you know you could get dozens of free channels with an inexpensive digital antenna? Revisit and reimagine how you could use technology less expensively.

4. Eat at Home More Frequently

The cost of a dinner for two with drinks at a nice restaurant can buy a LOT of groceries. Consider sharpening your cooking skills and dining at home more often. Leftovers are a bonus and there are no tips or delivery fees to pay.

5. Pay Off High Interest Credit Cards First

Research what your interest rates are for each of your outstanding credit card balances and pay more on the highest ones first. Then move onto the next and next.

6. Track What You Are Spending Money on Each Day

The best way to find financial leaks is to track your daily expenses. Those latte’s can add up quickly and may be better replaced by a travel cup of coffee from home.

7. Schedule an Insurance Review

Contact our independent insurance agents for a review of your auto, life and homeowners’ insurance policies to make sure you aren’t spending too much. They may be able to save you money!

You can get control of your finances once you make the commitment to get started. Begin today and start seeing the benefits of your efforts within weeks!