Tips & Advice
Four common budget pitfalls
Do you find you’re short on cash at the end of each month? Are you not sure where you’re exceeding your budget? Here are four of the most common trouble spots in most household budgets:
After a long week or a crazy day, it can be tempting to go out for dinner rather than cook at home. But dining out can quickly get expensive. Try to plan your meals for the week ahead so you’re not tempted to dine out too often.
Not sweating the small stuff.
Sometimes it’s not big purchases that break a budget, but rather a whole lot of little ones. That latté from the coffee shop every morning may not seem like a big expense, but over the course of a month or a year, it adds up.
Grocery shopping without a plan.
We all need food, but depending on where you shop, when you shop and what you shop for, grocery shopping bills can vary wildly. Make a list, look for deals and shop around. That will help you stretch your food budget further.
Not saving for a rainy day.
No matter how well thought-out it is, no budget can anticipate every expense. Setting aside money for emergency purposes will help you stay on track when the unexpected happens.