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Tags: finance, personal finance, budgeting
 Given the current state of unemployment, a lot of people need to tighten their belts. So over the past week I went over the expenses that I could cut and some of the habits that I could adapt to my lifestyle. I realize that even if I'm doing well now, there could very well be a time in the future that I'd need to pick myself up again despite the contingencies I've put in place.
So I've done a little research on other websites and took a look at some of their budgeting tips. Here are a few that I've picked out for myself which you can apply to your personal budget. Before you do anything drastic, know where you are right now. This is actually one of the harder things to do for people who have never done it yet.
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List all your expenses, and I mean all of it. This is the first step to any budgeting you need to do. If you do a little out-of-the-list spending, like buying chips or sodas, list those down to. This was how John Rockefeller started out, so if it was good enough for him, you can do it too.
Put down a rough estimate of the small things you spend on. When you've got that down, you can see the stuff that you spend too much on and cross them off your list or cut down on them. All budgets start this way. Try and conserve fuel as much as possible.
This won't only cut costs, but you'll be saving the environment. Talk to your neighbors and arrange a carpool to work if you can. That way you can all do some budgeting on fuel. If you can help it, ride a bike or walk. If you think you go out a lot, then you probably do.
Try and eat at home as much as possible. When you're budgeting for groceries, you normally plan to eat at home every day of the week. Try to eat out when you really need to and not on a whim. If you can't cook a decent meal, it's time you learned to do that.
If you compare the average tab you pay to the amount you spend on your groceries, you'll realize that this is something you should have adapted a long time ago. Finally, if you want to do some real budgeting, take control of your credit card. Credit cards are one of the biggest causes of debt in the country.
You don't need to cut it up or toss it out. Put a rein on your spending. Leave your card at home or if you're feeling rather extreme, put it in a block of ice. Handling credit cards aren't really a problem for some people who know how to keep their spending in check, but for all purposes of this article, put it in a box and put that box in a hole.
Dig it out when you've gone cold turkey. All of us need to apply simple habits to save money. That's one of the requirements for budgeting. If you're not sure about applying a technique there are several people who can tell you how they did it and most of these people are online.
One of the websites I've gone to was wisebread.com. Their site provides simple and very specific plans for frugal living. They're not the only ones out there, so go and update your personal budget today.
About the author
The author of this article Rick Goldfeller is a successful underground Financial Analyst who has been advising and coaching individuals for many years. Rick recently published a book on how to manage your money and attract Wealth and Financial Freedom. More info on his Finance Planning course is available HERE.
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