How to Manage on a Tight Budget

Everyone is feeling the crunch. If you are a Michigan resident, the pain of the automotive industry is hitting home hard. With layoffs, plant closings, buy outs, and other nuances, one cannot help but to feel the pinch. But even if you are not a member of the automotive industry, you can still experience the pinch from a set back at your job. Maybe you are a college student or simply in a situation where your budget is limited. Whatever the case may be, there are a few things you can do to ensure that you are getting the most out of your dollar.

Here is a list of how to manage on a tight budget and make your money work hard for you:

Place yourself on a budget. Set a mark for how much you will spend monthly on food, clothing, utilities and transportation. This is crucial because that glamorous budget that was once available no longer exists. Now that you no longer have that luxury, it is important for you to sit down and honestly look at your budget.

Use coupons. Coupons can really come in handy and save you money. Look for them in the weekend paper or some other circular. Just remember to buy what you need and not what you want. You may receive a few cents off, but you are still paying for that item.

Get rid of the junk (the junk food that is). Buying junk foods can really add up after a while. Try to purchase foods that are not only healthy, but can make additional meals. You will save money and make yourself that much healthier.

Buy what you need. Do not purchase what you want or what you wish you could have. Only buy what you need. This will help your money stretch and add a little more to your banking account.

Buy generic medicine. We know that Tylenol can do the job but so can another version. Believe it or not, generic medication can work just as good as the leading brand. They are also more affordable. You'll be amazed at how much you can save just by switching to generic.

Consider store name or no name brands. No name toilet paper does the same kind of work as a leading brand. The same goes for diapers. Look at items that are not as popular. They will do the same job but at a lesser price.

Take a look at stores that may not be as popular for furniture and other items. Items at Value City and Value City Furniture, Gardner White or Tech City Furniture can be just as good if not better than Art Van Furniture or Ethan Allen. Either way, it is affordable and if you take good care of it, will last just as long.

Prepare a list before you head out. It is wise to take a grocery list with you before you shop. This way you will stick to your budget and the goals that you have set out for the day. This will leave a few extra dollars in your pocket and any unwanted regrets at the store.

Shop at second hand stores. These stores sell items that no one else wanted. The majority of the time these items are still in good condition. With a few extra stitching, adjusting and creative thinking, anyone can make just about anything from the thrift store look as good as new! One second hand store that I love shopping at for my children is Once Upon A Child. They sell clothes for infants, toddlers and children that are in excellent condition. They also sell items such as toys, cribs, strollers, and more. Shopping for your growing child at a store like this can save you a ton of money!

Shop at dollar stores. You will be amazed at what you can find at the dollar store for an affordable price. The item may have a leading name brand for less or a no name brand that works just as good. Either way, shopping at a dollar store can save you a pretty penny depending on what you are looking for. Use your best judgment and make a list in advance. Shop around and compare the prices that are offered there and at other stores.

Prepare simple meals. Now is not the time to prepare lavish meals. When you are on a tight budget it is best to prepare simple, nutritious meals that will last and save you a pretty penny. For example, a cost-efficient meal that my household eats regularly is made of beans and rice, stewed tomatoes, a bag of frozen vegetables and ground turkey. This is a very simple and affordable dish.

Do not eat out. As painful as this is, eating out is no longer in your vocabulary. Just about every dish that is in a restaurant can be duplicated in your household with a few substitutions. Make your own hamburger and fry your own shrimp. Believe me, once you take away that luxury, your bank account will grow!

Look for sales. Every now and then a store may go out of business, a season has come and gone, or a holiday may come to an end. This is the time to take advantage and buy what the stores are selling for half off. Once again, you will be amazed at what you can find or use on your modest income. Just shop wisely and be careful not to buy what you do not need, or will not use.

Search the classifieds and see who is selling what. That piece of trash to one neighbor may be gold to some one else. Keep your eye out for garage sales and items for sell in the classifieds. Who knows? You may find a bed in good condition that is being sold at a reasonable price. Just remember to buy it only if you need it. Do not buy it if you simply want it!

Shop around for the best deals. One store may have an item at a very reasonable price, but it may not be the better price. Shop around for a better deal. Compare prices and make sure that you are getting the best for your money.

Call the utility companies regarding programs for low-income households. You will be amazed at how many utility companies are very helpful to people who may have hit hard times. Call and ask about any possible programs that may be helpful for your current situation. They may have what you need.

Do research on programs for low-income households. The government provides a wealth of assistance for low-income households. You simply have to know where to look. There are a number of programs besides WIC and food assistance. There are also programs for households who are in need of assistance for child care. Jump on the internet and research your government's website. There may be a program out there just for you.

Look for subsidized housing. There are living quarters available for households who may not have the ability to pay the current market rate in rent. This is known as subsidized housing. Simply go to http://www.hud.gov . There you will find a wealth of information regarding housing, renting and many other issues that are of concern to you and your housing needs.

Shop in bulk only if it is cost-efficient. Not all bulk items are a deal. It is important to shop carefully and see if you are really getting a bargain by buying in bulk. Depending on the item, sometimes you are better off not buying in bulk at all.

Make home made baby food. Store bought baby food can be expensive. Making home made baby food is more economical. Invest in a food processor, nothing fancy, and make home made yams, carrots, greens, and other healthy choices. You will save a pretty penny.

Sign up for your store plus card. If your store has a bonus rewards program just for shopping at their store, sign up. By having a Kroger plus card, not only do I receive discounts on food during sales, but I also receive coupons in the store, by mail, and discounts on gas (and we all could use discounted gas!) simply by shopping at their store. Look into a bonus rewards program at your shopping center. It can really come in handy.

Use the library fas a source for entertainment. The library has books, movies, computer games and music that anyone can borrow as long as they have a library card. Since I am a downriver resident, my library card can be used at numerous libraries in the area. This has helped me to save a lot of money on entertainment, especially for the children.

Go to the dollar show. Going to the movies is very expensive. If it is costing you an arm and a leg, why not try the dollar show? There are a few theaters around that offers a movie for a dollar. This is really cost effective to any one on a budget. You will be amazed at how much you can save! All you need is a little patience because it may take a while for that blockbuster movie to arrive at the dollar show.

Purchase a prepaid calling card. If you want to save on long distance, a prepaid calling card may help. I still use the card I received during my undergraduate years. I normally refill my card once a year and that is my long distance service. You can either refill the card or purchase a new one, it is up to you. Shop around for a good calling card that is worth the price for minutes and usage. If you do not make spend a lot of time on the phone making instate or out of state calls, then the card is worth it.

Buy a pay as you go cell phone instead. If you are not a frequent user of cell phones, but need one for emergencies, then purchase a pay as you go phone instead of an actual plan. With pay as you go, you simply buy the minutes you need without all of the extra fees that are attached to cell phone plans. This could save you a lot of money and keep you in touch with everyone else at the same time.

Stay focused. Keep in mind that you are trying to be economical. The only way to do this is by shopping carefully and spending your money wisely. Do not allow advertisements and promotional ads entice you to do something with your money that you will regret. Stick to the grocery list. Stand by your to do list. Remain on that budget. Remember, money doesn't grow on trees and it isn't as easy to come by anymore.

Hang in there and keep the faith. Yes, you are experiencing a little set back, but it will not last for long. Try to maintain a positive outlook. Look at this moment as an opportunity to learn something priceless. All things happen for a reason and this is one of those things. So, pick yourself up and decide right now if you are going to turn this into a stepping stone or a stumbling block. It is all up to you.