Life can still be sweet you just have to work at it.įor more tips and budget tools, just follow the links on the next page. And, if you monitor your spending, you can still have the discretionary expenses that mean the most to you. But it can be great to know that you’re in good shape financially. If you really pay attention, you can make a tremendous difference in your budget. Set aside cash for these expenses each week, and make up your mind that when the cash runs out, there are no more discretionary allowances until next week. Use a budget planner to get your budget under control, and be careful to write down any money you spend on discretionary expenses.
The most important thing you can do to lower your discretionary expenses is to monitor your spending. Devise a system to remind yourself to return borrowed items. Whether they’re from the credit card company, the video store, or the library, late fees and overdue charges can add up - and they’re completely avoidable. Pack lunches for work, and see how much it helps your budget. If you have a family, vote on which night each week you'd like to eat out let that be the only meal you get from a restaurant for the week. Cook all your meals at home, and save lots of cash. One of the most common budget-killers is eating out. Rent movies instead of going to the theater if you watch from home, you can see a movie, save money and not have to listen to someone else's crying kids.Įat in. Start a swap meet with other mothers for children's clothes, books and toys. Shopping at the nicer consignment stores can save you big bucks and still let you dress yourself and your family in great clothes.
This way, you don't have to completely do away with the things you want you just don't get as much or as many of them.įind a better way. Plan to play golf (an expensive sport) only on the public course for a while, and save on the higher fees at the private courses. If you currently get five magazines a month, cut back to two cutting three magazine subscriptions can save you $50 or more. Read on to learn more about saving money without living like a hermit.Ĭut back. Now that you can identify discretionary expenses, you need to find ways to cut out unnecessary spending. If you realize that it’s using up your fun money, you may be less likely to buy something that you won't really use. Once you've identified an expense as discretionary, you can make a better judgment concerning its value.
Exactly what constitutes a discretionary expense isn’t always cut and dry.
Discretionary expenses free#
For example, if you need a cell phone, you can take the one that comes free with your service plan instead of buying the one that has Internet, instant messaging and a camera.Īlways determine whether an expense is necessary before handing over your money. Broadly, discretionary expenses could include vacations, entertainment, luxury items, eating out in restaurants, and electronic gadgets. Likewise, if you need the item, but the one you want has far more features than you'll ever use, it’s a discretionary expense. If you don't actually need an item, but you'd still like to have it, it’s definitely a discretionary expense. Will I need it permanently, or could I borrow or rent it cheaper?.Can I get a less costly version that will still function the way I need it to?.
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