subject: Personal Finance And The Check Book Register [print this page] A tried and true way of learning how to budget is to first take account of all your expenses. One tool to help you do this is to use a checkbook register (also known as a transaction register) which allows the recording of all transactions involving a particular bank account. It is nothing more than a booklet that is filled with entries of the details of the transactions. The recording of all incoming and outgoing money allows one to start knowing where finances are most concentrated in usage.
After careful accounting of all money usage one may begin to contain expenses by targeting particular items. A good example is school supplies for the kids that can rack up heavily during the start of the school season. One should exploit back to school sales at the big retailers using a combination of circulars, online sales information and coupons. The savings is not restricted to stationery but also clothes for the start of the new school year.
Taking the idea further one should look at monthly recurring costs in the checkbook register and concentrate on those for bargain hunting. If you find that you are buying lots of products from a specific company, go to their website and sign up to be on their regular email list. The emails will keep you apprised not only of the sales, but also special offers like coupons that the store sends out to their biggest fans.
In case you have an old phone plan, it may be costing you more than you need to pay. Identify a good personal finance website that will let you enter your current cellular phone plan information and give you comparisons with other offered plans. On a comprehensive consumer website, you might be able to find a index of the mobile phone plans that are available to you and that fit your needs. The same site will calculate how much you will save if you make a decision to change to a newer phone plan.
A sizable appliance can be a problem for your budget both in the purchase price and in the cost of energy needed to operate the appliance. Many buyer oriented online places emphasize the importance of looking at energy star ratings and electricity requirements of any appliance you are considering. During the course of a year, an intelligent shopper can save a lot of income on electricity. Products that own the energy star rating issued by the government can save you about half of the usual amount of energy which is a great deal.
If you have a job that is considered a low risk, it may save you some money on your health insurance. Some fairly "safe" jobs are teaching and accounting so if you possess this sort of job, you may be able to get lower costs on your health insurance. Be sure to take advantage of low cost prescriptions at wholesale locations. In any case, the monthly health care payments can be difficult to manage.
by: Olga Berezovsky
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