I was reading an article in Good Housekeeping. The article was about a family that saved $10,000 in one year but cutting expenses.
While I didn’t fully connect with the family because they looked to be pretty big spenders ($200, grocery shopping trips, freely giving their children money, large monthly clothing budgets).. and they probably could have cut A LOT more than $10,000 a year with all they were spend. But that said, saving money is always good and the tips were sound.
One that I liked.. especially if you are new to saving money and budgets was a daily spending allowance. You just need to figure out your monthly limit and then divide by the days of that month.. and there you go, your daily spending allowance. Sure some days you will spend more and some less, but that’s OK.. I think it might just break it down more into a manageable figure.
What do you think about doing something like a daily spending allowance? I think it would be easiest with the cash method.. that way when the cash is gone for that day, it’s gone..
You can find out how I easily cut $6000 from our budget a year (And I DID NOT have a $800-1000 monthly food budget to start!)
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