How do we cut budget when there’s nothing left to cut?
Frugal is the Fad: Have you ever wondered how certain people never run out of money and even make it to the Forbes list of richest people? They live frugally.
They buy excellent quality things that last them decades. They do not follow fads or get hypnotized by trends of our consumerist society.
They do not feel less than themselves or left behind nor do they give into the brainwash. They read, think and looking at the less fortunate. This way they deliberate, budget and make less impulsive decisions.
Workout a bare-bones budget
A barebones budget cuts your spending to least after fulfilling your financial obligations.
Consider these suggestions
Housing – Do you own a house? If yes, thank your lucky stars and the benefactors as this is the greatest expense paid.
Utilities – like water, heating, electricity, etc. How can you reduce consumption to lower the bills? Have you considered rainwater harvesting, solar cells, etc.? You could avail to government subsidies for lower income groups such as Eldercare, the Salvation Army, Weatherization Assistance Program (WAP), etc.
Food – Eat at home. Consider these questions. Do you need these takeouts? Are they meeting your dietary requirements? What if they have added chemicals and additives that land you in the hospital? If you are in dire straits, then avail to the Local Food Bank and Pantry programs that offer emergency food help.
Shop smart, look out for discounts and clearance sales. Pay with Sodexo coupons they are also accepted in restaurants. This is when the grocery store and mall are clearing the previous stock to replace with the new one.
Have fun with 3-ingredient and 5-ingredient recipes that would need you to use a permutation and combination of your grocery. This way you get creative, eat clean and healthy within a budget. Grow fresh organic food at home, buy fresh produce and start your own little farm from cuttings, bulbs and roots on the windowsill or backyard.
Medical expenses – Are you insured? You could avail to government and private medical aids.
Gas – try replacing your modest ride with the Public Transport System and cycling. Many airlines offer lowest fares on less busy days. Surf the Internet for the best deals.
Debts – reduce the borrowing to the least. Keep a mindset that – there is nothing you cannot do without. The Temporary Assistance for Needy Families (TANF) and MOE funds offered by your state for basic help like work, child care, education, etc.
Phone – do you need that mobile phone and the landline? Can you do with one? Service providers like the Universal Service Administrative Company (USAC) offer programs for low-income groups that cover the TV and broadband Internet too.
Child Care Financial Assistance offered by the state during early childhood promotes economic self-sufficiency for the family.
Hobbies that reduce, reuse, recycle and upcycle what you already have? There was a time two generations ago when people took pride in DIY and their own resourcefulness. They would knit, weave and stitch their own clothes and other essentials. Reuse the discarded yarn and cloth to make quilts and lovely items to bring a cosy lived-in feeling to their homes. The time when they bartered handicraft and homemade things not only to strengthen relationships but also cut the need for money.
Non-essentials such as wines, scrubs, soaps, etc. Prepared at home using the ingredients from your kitchen they produce amazing results minus the harmful chemicals.
Thus, it is possible to live well on next to nothing. All you must do is notice what you have and use it well by reusing, recycling and upcycling. Consider rainwater harvesting, solar panels that heat your water too. Grow your own food and try being self-sufficient.