Thursday, July 8, 2010

Saving for the Budget

While shopping in the wedding aisle of a store today I overheard a few ladies calculating wedding items needed and determining if the items were in their budget. Needless to say there are many couples that are planning their weddings on budget.

There are several adjustments that can be made to your current lifestyles and spending habits that will prove to help with savings. Open a specific account that will be dedicated to your wedding and practice good habits that can help you save.

a) Bring your lunch to work, don’t spend $5-$8 a day for lunch…pack your leftovers or make a sandwich. This is healthier and saves you an estimate of $25-$40 per week.

b) If your addicted to gourmet coffee, latt├ęs, cappuccino, and other drinks and breakfast this is another area that you can save. Some of these drinks can run roughly $5 for just the drink without the sandwich. If you stop during your route to work a few days to get a morning drink this can save you an estimated $25+ per week.

c) Limit your partying and happy hours this can become expensive and will add up quickly. Still maintain a social life, don’t get consumed and focus strictly on planning it can become overwhelming and stressful if you let it. If you attend an average of 2 social events this can save you an estimated $30+ for the week.

These are just a few tips to get your saving wheels turning; the adjustments will be worth it in the end. You will be amazed on how much you can save with minor changes.

If you are ready for a major challenge, save your receipts from every purchase for one week and add all purchases into two categories: Need or Want.

Analyze the results and see how much money you could have saved.

Happy saving and planning!