Basic on society standards is more important to Have that to be, so most of us are living life more expensive than they really possibilities.
When you wrote your budget, are you be honest at 100%? if yes you know the exactly ampunt of money you can spend, see the areas where is normal spend and how we can save:
HOUSE:
Buy a home is the big dream for everyone of us but also if now prices are quiet good you must to think if for the moment you have an amount for deposit, if you are going to live here looooooooooong time, because if you need to move often for work is better wait and keep rent. Maybe you could do a deal rent to buy, where owner has a montly earn from the house for determinated period and then if you want to buy he will cut what you've already paid (if you hpay €500 per month it is €6000 per year after 5 years you'll paid €30000, if you did a pact for €100000 this means €100000 - €30000= €70000 it is the actual cost and a mortage rate for €70000 could be lower than a rate for €100000).
Bt if you want to buy a home start to look for financial informations and mortages, first of all inyour bank, but don't stop here, ask several counseling so you can confront and do a great choiche.
If you are a couple that decided to share budget, try to understand if you can afford a mortage rate also with only one salary, if you can, you'll can use second income to save and for extraordinary expenses.
Mayb e you already have a house but you would like to use a room of it to have extra income, well is possible do "room for rent", but every city has own rules about it, the minimum and maximum amount you can ask so ask informations in your Common so you are sure to do everything right.
Maintenance/repairs:
If you need to do works in the house, best way to save is diy. But most of us aren't able, well I can do something but I always need help and supervision of a man. I discover that my brother is really good with handworks (he repaired: dishwasher, a window, the tap and some in the bathroom) plus I discovered that most of my male friends are good on repairs. If you need to call a professionist, the cost could be really high ( the fact that things usually broke on week end is still a mystery), but if you ask to a family memeber or a friend the cost is Free or one dinner or you can ask for help in change of something (Example: you can teach to cook a dish, help to write a resume), it is always cheaper respecta professional worker.
Control your bills (electricity, gas, light, water, phone etc etc) and look for more convenient option, basing on the use that you do.
Transportation/car insurance
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| my car is blue but the model is the same |
Well I must tosay that I have an old punto that need a lot of fuel and control, every year I think about to buy one new car but when I go to mechanic he said that my car is ok can live for other years, so I use it only in town if I need to go in far place really distant from my home and without good bus servie, for the rest I try to use as trasportation: bus, foots and bike.
But if I would buy a new car I'd must to choice a good used because if I would buy a new one its worth will be 30-40% less in the first 2 years, while a good used would permit me to save on the cost and have a good car.
Car insurance: I pay it every 6 months, next rate will be on December but honestly I am looking on web because also if my insurance is on the lower level (level zero) the cost of insurance is becaming really high .
Food:
This is usually a big voice on spending list, but there are some steps to save soemthing:
- do a list of what you really need and follow strictly
- keep informed about special offers
- don't buy only "brand" products
- buy in bulk (not always depending from family size and food habits)
- shop in commercial center and discount shops
- don't be tempted from all ffer you see
- buy seasonal veggies/fruits
- buy less junk and processed food
Clothes:
Every woman is tempted to buy new clothes but it could intack your savings so before you spend a lot of money on this field, open your closet, give to a charity that clothes you aren't going to wear anymore and create new outfits with clothes you already have. But I understand you don't buy clothe always is hard so try to save something:
- first try to resist to buy new clothes, but if you have a special occasion that needs a new dress consider it as an extra
- swap clothes with friends (if you have a range of friend of your size fix a date to swap clothes you can have good used clothes for free and quality time with your friends)
- look for special offers in the shop's corners
- buy on used-thrifty store
- choose simple fabric
- buy during sale periods (but be sure that sales are real, so choose a shop that you attend often)
School:
Stuff for school could be exteremely expensive, so buy in bulk time ahed, if you are considering the idea to send your kids in a private school confront their cost and services respect a public one.
Colleges/university is could be a really high cost, so why don't expalin to your sons that they could save to help to pay thecost of their education?
Books/magazines
Ok I must to confess I can overspend on this field I love to read magazines and books, I like christian testimonials books, fashion, traveling, cooking and finance magazine. I became really interested on finances and savings from last year, is never to late to be interested on this field.
Technology
If we following all tech new we would buy new pc every 2 years, mobile phone every 6 months but honestly I have bought new pc 2 years ago, when the other pc desk died, and it is still working really well, I bought a blackberry for work after several years of old mobile phone (nokia and I must to say that some times I miss the simplicity of it).
Free time
Usually is quiet easy find someone that wants to came with you on cinema, vacations, soccer game, dinner in fancy restaurant but if you decide to save money try:
- at restaurant: split starter and sweet with a friend, it helps you to save money on the final bill
- choose a ice cream instead a full dinner, you can share time with friends and save money at the same time. (Personally I tend to invite friends over a coffee or if we are a big group we have an happy hour in a cafe "A volte 3" where a drink cost €8 but you have a big variety and quantity of food)
- Cinema, it is a good choiche but not all your friend are able to attend it during weekday when the cost os cheaper so inthe week end tickets cost is €10 per person, so to save you can rent a dvd to watch at home
- during day trip, try to bring your food, in some touristic cities is easily go in reastaurand and have expensive bills
- Try to attend free events in your hometown
You must to know that during this spending review process most of your "friends" could magically disappear, if you are a person that hang out every night, at the beginning this could be hard process but day by day you'll notice difference on your life and also on your wallet, but your true friends will be glad to stay with you always.
Trips/holiday
If I'd be rich I will fly every week end but for the moment I am only planning places I'd like to visit. Most of us have only august to do holiday and price are hig because we are in high season, but to save some money you can plan months ahed finding really good deals on web (ok sometimes last minutes offers are great but not always so use sites that works really).
While if you have flexible time for your vacation try to choose low season as september, price are lower respect august. Choose camping instead hotel, reant a house and bring food instead eat in restaurant,
If you have only week ends go near home, I must to say that my region andhometown is situated ina strategic position, I am in the centre of Italy and with 1/2 hours I can go in sea places, with 3 in Florence I can choose a lot of place also for daycations.
Pocket money
Is good or not to teach how to manage money to kids? well from my personal experience (I din't had a pocket money) it could help, because if you give an amount weekly or monthly your kid would start to think about the administration of that amount. Honestly every family knows what's better, but as parents you must to give a good example.
Gifts
Well gifts could be expensive so you can swap for handmade products, something that is did with your hands has a special mean for who receive it. You can buy months before, honestly sometimes I asked directly what they wanted, but there are months that are more full and other luckily empty so you can decide an amoount for every person and look for gifts in that price range. I like the research of gifts and the opportunity to make diy gifts.
When you put on paper the exactly amount of what you spend for every field you know the areas where you are overspending and try to limited.
Paycheck-bills-savings leftover you can spend.
Next time we'll talk about Domestic balance
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