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Compare the total monthly family income with total monthly expenditures. If you have excess money after paying your bills you can save or invest it, otherwise, you have to reduce expenses, increase revenue, or do both.
Analyze your monthly expenses, and set priorities in spending. After you separate money for the inescapable expenses, reduce variable costs to easily achieve monthly savings.
Track and compare prices in stores and plan a higher monthly food supply.
Leave only daily purchases of bread, milk and basic necessities for everyday small purchases in smaller shops. Major retail chains often offer lower prices or have discount prices, which you can use to purchase monthly.
SIMILAR ARTICLES & IDEAS:
You’ll save far more if you don’t buy a car or sell it if you already own one but can go without it.
If you can use public transportation, you can save quite a bit of money on ...
Carpool to work if you can to significantly reduce wear and tear on your car, save on gas, and take advantage of carpool lanes that might make it easier to get to work.
Check at least once a month to keep the tires on your vehicle properly inflated. Doing so can improve your gas mileage.
Refinance your home or automobile at a lower rate to save money over the life of the loan and lower your monthly payment.
If your student loans are locked in at a high-interest rate, figure out whether it makes sense to consolidate all or some of them.
As a personal financial planning tool, a written, monthly budget allows you to plan for how you'll spend and/or save your money each month and also keep track of your spending patterns.