If you are trying to stick to a tight budget, you know how frustrating it can be to spend even a few dollars too much. Tight budgets usually have very little wiggle room and even the smallest overage can send that budget into a tailspin. Check out these common budget killers that can put a real drain on your finances.
Budget Killers
Fast Food
Trips through those fast food places may be quick and easy, but they can really kill your budget. Skip the expense by taking snacks with you when you run errands or go on a trip. If you are one of the many who make a run through a fast food joint to get a cold fountain soda, save a little by opting for a fountain drink at a gas station. They usually cost anywhere from 25 cents to 1.00 less than a chain restaurant drive through.
Convenience Food
They’re quick and easy, but boy are they expensive! Those convenience foods that are ready to go make life easier, but they can certainly kill a tight budget. Search the Internet for recipes to make your own quick convenience foods that can be frozen and thawed quickly for cheaper eating. {Check out our tips for freezing food.}
Duplicate Items
You know how it is: You need something and know you have one…somewhere. Since you can’t find it or don’t want to look for it, you go out and buy a new one, only to find the one you already had. Those duplicate items can put a kink in your budget when they aren’t planned for. This is where a little personal organization comes into play. If you know where things are, you won’t replace them unnecessarily.
Unplanned Expenses
An unplanned expense that pops up unexpectedly can seriously kill your budget. If possible, try to put a few bucks away every paycheck to deal with those unplanned expenses.
Bank Fees
If your budget is running so tight that you “rob Peter to pay Paul,” you may be running into multiple bank fees. Overdraft charges and below minimum balance charges can really add up — and break your budget. Pay cash whenever possible and only write checks or use your debit card when you know the money is available.
Late Charges
Do you consistently pay your bills late? If you’re like many people, you do. At least they get paid, but you end up getting charged late fees and those can really add up. Think about it: If you have 10 bills to pay every month and each bills incurs a late fee of five dollars, that’s 50 dollars each month. Many late fees are much more than that. Pay your bills on time if possible to cut out those late fees that can drain your budget.
Budget killers can create even more stress when you are already dealing with a tight budget. Don’t let these budget killers strain your budget further or cause you more grief. Take charge of your finances and close up these holes where your budget is leaking.
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