Successful Budgeting for Uncertain Times

Editorial Staff

There are many simple ways we can all get more out of the money we have

It certainly goes without saying that America is in the midst of challenging economic times. Retirement funds are being hit exceptionally hard and there is no apparent relief in sight. Even for those just starting their professional careers this recession is cause for concern. Fortunately young professionals have many years on their side. Retirees living on fixed incomes and dependent on their retirement funds for meeting their financial obligations don't have that same luxury. As much as some optimists would like you to believe there is no quick fix. These times are troubling but fortunately there are many simple ways we can all get more out of the money we do have. While following these cost saving tips might cause us to give up certain luxuries most seniors would agree that short term sacrifices are a small price to pay when it comes to the possibility of having to go back to work. Making simple lifestyle changes doesn't have to be a negative thing. Taking up some new, more affordable hobbies can help one discover talents and interests they never knew they had. What follows are just a few of the many simple steps seniors can take to stretch their budget.

One of the most obvious but often overlooked resources are assistance programs offered by your state government. These programs were designed specifically to help people in tough economic situations. These programs are there to help you so it only makes sense to see what programs you might qualify for. In addition to state programs many federal programs also exist to serve the same purpose. When shopping, buying bulk quantities of products you use frequently are a guaranteed way to save money. Purchasing a membership to shop at a wholesale store like Sam's club is well worth looking into. At Sam's you fill find nearly everything you need in bulk quantities. The prices you pay are almost always cheaper than what you would pay if you bought a comparable amount of the same product at a regular store.

If bulk shopping is not in your plans, its also very possible to save a considerable amount of money by taking the time to collect coupons on the products you use frequently. Its as easy as sitting down to look at the coupon sections that come in your Sunday newspaper. It bears noting that using coupons to purchase products you don't ordinarily use is not going to help you stretch your budget. Your money should be reserved for the necessities such as food and medicine. Another one of the simplest things one can do to save money is to evaluate the bills you are presently paying and categorize them based upon their relative value. While you need heat, electricity, and shelter do you really need that expanded digital cable package or that subscription to a magazine you never get around to reading? Canceling these unneeded services will help to free up money that can be used for more pressing needs.

Along with collecting coupons, looking for sales can be a significant money saver. Finding sales on items you already have coupons for has become a almost a game for many shoppers. Whenever possible and practical it helps to stock up on items you need and can store efficiently. Make sure not to buy too big of quantities on items you won't be able to consume. When it comes to larger ticket items don't be afraid to consider used items. Instead of buying an expensive riding lawn mowers search around for people and places who are willing to sell you a used mower. Yard sales are still an excellent way of finding favorable prices on items you might need that owners are anxious to get rid of. If you spend a lot of time on surfing the internet sites like Ebay and Amazon are excellent sites to find good deals on both new and used products. Furthermore, if you are so inclined you might also be interested in selling your own unneeded belongings on those sites. Not only are you ridding yourself of clutter you can also develop an additional stream of income. Finally it never hurts to consider the renting vs buying option. Instead of buying new books and cds visit your local library to see what they have available for checkout. You might even be interested in swapping items with your friends nearby. If your friends have an extensive library of movies which they don't watch why not ask them to borrow one of their movies. Just make sure to be a good neighbor and return what you borrowed in a timely manner. These tips are just a few of the many ways one can stretch a limited budget. Allow yourself to be creative when it comes to finding new ways to save money. Your wallet will thank you for it.