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How to Make a Frugal Budget


Frugal BudgetMoney is earned with effort and is an asset. Don’t waste it on buying branded shoes and clothes.

Following are some of the points which can help you making a frugal budget.

1. First of all take out a notebook or a diary and write down your total income or the total money in hand for household.

2. Now make two columns for the expenditures. One is for such expenses which you have to meet by hook or by crook. For example expenses like rent, utility bills etc and second column is for such products which can be manipulated. For example mobile cards, unnecessary grocery and clothes etc. once you have written all the expenses in column two. Now take a critical look at it. Now reduce all the expenses which can be reduced and put a limit to each expenses, for example you can buy one dress instead of two, reduction in mobile cards or low budget dishes etc.

3. Now divide all the money on the basis of important expenses and put them in separate packets, for example money for school’s fees, utility bills and etc. so such money don’t be spent anywhere accidently anywhere.

4. Do keep certain percentage for the urgent situations like accidents, weddings or some get together etc.

5. You should try to save at least 25% of your total income and assume as if you never had it and put it somewhere

6. In case you get your hands on some surplus money from bonuses and lottery etc then try to save it in the bank or invest somewhere wisely.

7. Keep a proper check and balance on you and avoid impulsive buying, window shopping, eating out or hanging out often and shopping without carrying the list of item you essentially need. Instead of cooking meat every other day, plan you menu and add vegetables and lentils in your diet also that will be nutritious and easy on your budget.

8. Save on electricity and other services that you are paying for and adopt a simple and balanced lifestyle and try to cure the small health issues with home remedies, try to choose shopping centers nearby your residence and that way you’ll be able to save on travel cost.

9. Frequent visits to beauty salons and long duration phone calls must also be avoided.

10. People who are fond of reading can buy their magazines and novels from book fairs and old book shops. Libraries are also a very good resource for that matter.

11. Keep your yearnings within your income level and budget so that you can get away from worries to avoid showing off.

12. Grow small vegetables like tomatoes, chilies etc which will lower your cost a lot.