Groceries and Home Supplies

Groceries and Home Supplies This is a tricky category for cutting expenses, because you can’t really cut back on food, and you might end up spending more on this category if you cut back on other categories, such as dining out. However, because it is one of the larger categories for most families in terms...

Automobile

Next we’ll look at your automobile expenses, because for many folks it’s an opportunity to make fast progress with big reductions in spending. We all like shiny new cars that shout out to the world what kind of personality we want to project. Who do you want to be: rugged, elegant, edgy, rich? But if...

Entertainment

We’re going to attack entertainment next. This may not be your second, third or even fourth largest category, but for most folks it is a category where the potential for cutting back is very high. Not fun, maybe, but very high. Dining Out Eating dinners out costs between 5 to 10 times as much as...

What Happens If It Doesn’t Pencil Out?

Getting Your Budget to Balance – Part 1 You’ve finished entering in your current income and spending into your shiny new budget. Congratulations! Unless, like most folks, you have more spending than you do income, in which case, congratulations! You’ve identified the problem, and now we can get to work. Start with Expenses Many people...

Designing Your Budget, Continued – Categories That Are Easier to Adjust

Designing Your Budget, Continued – Categories That Are Easier to Adjust Debt Repayment Other than mortgage debt, if you have chronic debt then you hopefully understand why it’s important to get out of it if you can. Interest expense is eating up your retirement – and that’s not an exaggeration. High debt is keeping you...