Building A Deposit By
Budgeting
2.
Divide a sheet of paper into 2 with a pencil or by folding it.On one
side,list all the expenses which remain the same every month,on the
other the
expenses that vary at any given month.True budgeteers understand that
in order to budget effectively,we need to rid ourselves of outgoings
which vary. For example if you pay your gas or electricity bill
quarterly, it will be far cheaper in the long run and more effective
for your budgeting to begin paying a set agreed monthly direct
debit.This can easily be arranged by your energy company in one phone
call.However before this is done, you may also be able to get even
better savings by switching ultilities all together then going for a
direct debit plan.Comparison websites such as Uswitch will be able to
aid you in your decision about this.The most important thing to
remember is the every payment that you make from now on needs to be the
same amount
EVERY
month - what I call quantifiable.
3.
Now is the painful part! Once you have passed the second step you now
need to
PRIORITIZE what
you NEED from what you
WANT.
At first do not do these with the re-occurences, just the bills you
pay.Are you tied into any contracts? If not why not switch to cheaper
supplier? And if so, for how long? When do they expire? This is all
about downsizing to a comfortable standard of living to the
individual.Do you unsubscribe to some of your favourite channels? Stop
paying for cable television and settle for freeview or sell the TV and
stop paying TV license altogether?
The most triumphant people at this game are those that make the biggest
sacrifices but it can be counter productive psychologically to remove
ALL your past time pleasures & luxuries.It is solely up to you
as an individual.
