Monthly Archives: February 2016

5 Budgeting Tips During Confinement

There are a lot of new expenses that come along when you have a new baby. It starts with paying for the confinement nanny that you know you can’t make it through without and ends with a never-ending list of baby supplies that your little one won’t make it through without. Following are five tips that will help you survive this period financially as well as mentally.

Budgeting Tip #1: Stock up before bringing the baby home.

The moment you discover that you are pregnant, it is time to start stocking up on all the supplies you know you will need. Start collecting coupons and matching them up to sale prices at stores for baby wash, diapers, disposable wipes, and all the other things you know you are going to need.

You may also be able to take advantage of samples and other freebies that baby product manufacturers often give away. Even if it is just one free diaper or a sample of baby wash, you can collect these things and have a nice stockpile by the time your baby is born.

Budgeting Tip #2: Get crafty and make diapers, wipes, rags, and other essentials.

If you are going to use cloth diapers, you can make them on your own for a fraction of the price they sell in stores or online. You can even make cloth wipes to keep your baby clean and fresh. It is also very cheap and easy to make disposable wet wipes at home, though you may want to wait until it is closer to time to bring the baby home so they don’t dry out over time.

If you have a sewing machine you can even collect adult and child sized t-shirts from around your home and turn them into baby wear. Flannel shirts and jackets can be turned into baby blankets, burp cloths, and warm baby sleepers. These things are expensive in stores, but with a bit of thread, sewing machine, and some old clothes already in your home you can save tons of money.

These are all great time passers while you are waiting to have your baby as well!

Budgeting Tip #3: Create a hand-me-down circle of friendship.

Do you know others in your neighborhood that have had babies in the past year? How many other expectant mothers do you know? You can coordinate a circle of friendship with all of these other mothers so clothing and other needed items can be handed down from one family to another. As the circle grows there will be different sizes of clothing available for more and more parents to be involved.

The idea here is that everyone receives some things they need from others. While giving away things that you no longer need you help someone else and receive things you do need from others. This circle can continue as your children grow, since children’s clothing can be quite expensive.

Budgeting Tip #4: Don’t buy what you don’t need.

Most parents don’t use baby changing tables often and they become useless once the baby is toilet trained. Think of things that you won’t necessary use or don’t absolutely need and simply don’t buy them. This is the simplest way to save money.

Budgeting Tip #5: Cut the junk food and eat healthy from the start.

Finally, you can save money just by not buying junk food and focusing on healthy foods during and after pregnancy. It will help you feel better and get your body back faster, but it will also save your budget!

How to Shop to Save Money

Don’t sacrifice the family budget to a shopping spree. Learning how to shop to save money will help keep your budget on track. Visiting the sales, conserving energy and clipping coupons are all positive steps in the right direction, but with some careful planning and organized thought, you can make your dollar stretch even further. Here are a few budgeting tips to get you started.

Set a realistic budget and stick to it. A budget will help you to know where your money is going. And this will make it easier to find where you can cut corners and make adjustments to your spending. With some commitment and a few lifestyle changes, it can be simple to live within the constraints of a well-planned budget.

There are basic needs that are worth spending on because they are important for your health and security. They are the things that you cannot live without and should be set in your budget. These are food, transportation, shelter, and clothing.

Record your spending so that you have a visible track of where your money is going each month. You are likely to remember the bigger bills like the mortgage, but it’s easy to lose track of the incidental spending you do. After recording your sundry spending you’ll probably be surprised at how much you spend on movies, eating out, video rentals and other small items. Being aware will help you to find ways of saving a few dollars here and there. This can add up to a significant saving each month.

Rather than hiring videos borrow them from your local library at little or no cost. Look for fun, inexpensive ways to entertain family.

Always remember to make a list when you go shopping. If you only bring the amount of money you need to buy your items this will prevent you from buying things that are not important.

Compare prices and do not limit your options to one store only. Rather than buying on impulse try window-shopping first.

You can save money by conserving electricity. Be sure to turn off appliances that are not in use. And compare your monthly electricity bills on a regular basis. Shop around with other providers to see if you can get a better deal. Pay your bill on time and many power companies will give you and early payment discount.

Shop for clothing at the end of the season as prices of many items will be on special at his time of the year. Your budget should have a sum included for clothing so make sure you stick to your budget amount.

Decide on the things that are important to you. Recognize the items that you need and the items that you want to have. Remember that you should only buy things that are important and needed. These are just some of the way you can shop to save and keep your budget on track.

A Budgeting Tip or Three for Successful Planning

The word budget gains groans of torment frequently from a variety of people but there really is nothing to agonize over. A budget is simply a spending plan that includes everything you will need to spend money on.

A spending outline that has everything you spend money on and stays within the acceptable income range is considered to be a good budget. It is also important to remember to include things like saving money for retirement, emergency expenses or schooling. Many people find budgeting a chore because they do not have direction or goals laid out as part of the budget. When you consider things like what you want to have in the next five years, for example, having paid off the car or mortgage, it makes it easier to sit down and take the time to budget with those goals in mind.

In fact that is the first budgeting tip. To make budgeting simple and easy, set a goal. Time frames give you a set of number to work with. Setting a goal is by far the most important budgeting tip.

Budgeting tip two is knowing your financial situation. There are a number of people who have no idea what their financial situation actually is. They have never looked at the big picture, content with looking at just the small piece that is in front of them. This can make budget calculating difficult. Therefore, taking a set back, pulling everything together and taking a look at the overall situation may be just what you need to make sure your budget is on target.

Budgeting tip three is to start making changes right away. Avoid putting off fixing financial troubles. By taking the time to fix troubles as soon as you see them, or even fix potential troubles, you can make sure that your financial problems disappear without creating major issues for you or your family.

Budgeting can be difficult at times, balancing everything out so at the end of the day you are in the black. However, a little time and a little effort is all that is really needed to make sure that a budget is a success. If you are having financial difficulties and are not sure how to budget, there are a number of resources that can help you. These resources include people like financial advisors, online resources, or even books that can give you a step by step guide to making sure you stay within your means and have what you want in life.

3 Ways To Start Budgeting Faster

It is hard enough to get the motivation to start budgeting. When you have a direction and helpful tips to get you started the journey can seem a little less daunting. The most important thing to remember even above the tips below is just take action. Use any and all budgeting tips you can find to get started.

With out any further delays… Here are 3 of the best budgeting tips I could think of!

1. First set a goal for yourself.

Sit down and think about where you want to be in 3, 5, and 10 years. For each of those time frames try to map a plan of how you intend to get there. Figure out what you need to do to reach your goals. Having goals is at the top of my budgeting tips because you have to start somewhere and I have always been taught to begin with the end in mind. Creating a goal and taking steps to reach it is doing just that.

2. Get a bird’s eye view of your financial situation!

In this budgeting tip, I wanted to really impress upon you the importance of taking a step back and looking at the overall situation. Sometimes this can tough to do because your bills are sitting there right in front of you demanding attention. It can tough to take a step back and look at your financial situation objectively. Believe it or not, this is the best thing you can do to resolve your financial troubles.

3. Make changes now!

Avoid procrastination! This is a huge budgeting tip. Why? Because most people know that they have financial troubles but rarely do they take the steps to rectify it in a timely manner. What tends to happen is they take action but they take late in the game, which makes it harder to fix the their financial problems. Budgeting is all about timing and execution. When you take action and what you do is the key to creating a budget that will work for you and your situation.

The budgeting tips above are just the tip of the iceberg. I have been coaching and teaching people how to budget for over 10 years. I have seen the differences in people that have been successful with budgeting and those who haven’t. These tips by themselves may not resolve your financial woes, but searching and acting on information is what will.