12 Tips to Stretch Your Budget

November 12, 2009 | Category: Financial

A close up of a woman writing a check. When you’re working paycheck to paycheck or, even if you are able to save a little money, you’ve probably found yourself looking for new and creative ways to stretch your money.

RECOVERY.GOODWILL.ORG provides advice to stretch your dollar but, often simple changes in your habit make the real difference. So, from changing your entertainment routine to being more aware of your cash flow, we offer 12 ways you can stretch your budget.*

Use cash for face-to-face purchases. Relying on credit cards should be a last resort for making payments. Using cash or debit cards helps keep you honest about what you’re able to spend.
Have a written budget.
Ask your current cable or internet providers for a better price or, for other lower-priced service options.
Reexamine when and where you eat out. Look for deals during the week. Try lunch or breakfast instead of eating out at dinner.
Visit thrift stores to find deals on clothes, books, toys, furniture and much more.
At the grocery store, consider purchasing store brands. They’re priced below name brands.
Have a “phantom” $100 in your checking account and avoid overdraft fees.
Call your car insurance provider and ask for a better price. Ask about “mutual” companies.
Reduce entertainment costs by viewing popular television content on Hulu.com, ABC.com, and CBS.com.
Consider the following ideas:
- Drop your premium movie channels or cable TV, altogether.
- Use Compact Fluorescent Light (CFL) bulbs to reduce energy costs.
- Don’t buy bottled water. Buy a water filter and bottle it yourself.
Use automatic deposits for 401(k) plans and “rainy day” savings account.
Pay down credit card and installment debt. When you do, you free up money to save and invest.

*These tips provided by the Financial Information and Service Center (FISC), a Consumer Credit Counseling Services (CCCS) agency in Wisconsin and program of Goodwill Industries of North Central Wisconsin.

To discuss additional financial strengthening options, call FISC toll-free at 1-800-388-2227.

3 comments
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Leah Ingram November 13, 2009 10:29 am
Great article.

Here are a few other tips, some of which I’ve covered on my Suddenly Frugal blog (http://www.suddenlyfrugal.com)

When it comes to insurance, you may get a better deal if you bundle your car, home and life insurance with one carrier.
Consider “renting” movies via the Redbox “boxes” in supermarkets; they cost only $1 per night (I’m a customer, not a spokesperson)
If you are employed and your employer lets you put pre-tax dollars in a flexible spending account, do it!
Pay bills online via your bank’s website. This will allow you never to “forget” to send a payment–and therefore incur a late charge–and help you cut down on postage costs (sorry USPS).

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uberVU - social comments November 13, 2009 1:17 pm
Social comments and analytics for this post…

This post was mentioned on Twitter by GoodwillAR: RT @GoodwillIntl Check out these 12 little ways you can save more money each month: http://bit.ly/2hpqHt. #recovery_blog…
Penny L. Fuller August 30, 2010 11:49 pm
“Every penny counts.” Unknown. That means us, America. “Waste not, want not.” Our forefathers knew what they were talking about–they went through the Great Depression when people were rarely able to find anything edible so had to eat anything to stay alive. ”Wasting not” includes using apple peels in pies and sharing newspapers. It means caring for each and every item tenderly to prevent the need for replacement, because replacement is no longer an option when a person is not working regularly at a good wage. It means playing games and exercising instead of watching TV to be able to pay the electric and heating bill each month. When showering, we get wet, turn off the water, scrub with soap, then turn on the water and rinse, to save electricity costs. We use and reuse margarine tubs and water bottles instead of buying fancy dishes.

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