Revival from virtual bankruptcy and utter humiliation would not have been possible if discount coupons weren’t there to rescue me. Even though the global recession has hit every part of the globe but America has undoubtedly been one of the most affected from it. Unfortunately, I ended up being a victim of the crunch. For a sole bread earner doing two jobs side by side, putting the food at the end of the day was hard enough; but my condition went from bad to worse when the axe fell on me.

Losing job that had the lion’s share of my income left me in a huge dilemma. Penny-less and friend-less I had to re-adjust and think of some other way to feed a growing family. In utter chaos I stumbled upon discount coupons in Sunday’s newspaper. I never had belief in such campaigns and honestly found them more of talks than actual substance.

Anyhow, half heartedly and in complete desperation I took a leap of faith and today I feel proud in saying that this was the best decision I made in ages.

Discount coupons come in different shapes and sizes; they compensated all my needs in one form or the other. I was able to get rebate on almost everything, all leading brands and in other cases extra products or services came with the package. Discount coupons have been a really reliable and effective mean to save. For the first time in many days I came across an all win win scenario and it is a blessing. Everything from groceries to clothes is accommodated by these discount vouchers.

Every day I find some new discount scheme; everyday a new mean of getting a discount coupon come across.

Even though more traditional means of coupon advertisement still prevail; but one of the best ways to gather these coupons is via internet; it has given a new avenue to find coupons.  By merely going online I get hold of latest promotional vouchers and save them by printing as many as I want. Also a new discount is advertised in the newspaper from time to time enabling me to accumulate as many as I desire.

By saving little, I manage to get a hold of all the necessities of life and it has only been because of discount coupons that my bank balance has been getting better. It has been truly due to discount coupons that I got a hold of my life again and inch by inch, my life has been getting near if not completely to the good old days.

There is a lot of Free Money available in the the form of a Government Grant but you need to know were to look. If you are trying to get debt relief then a Government Grant can help you eliminate any personal debt that you may have. It seems like it is becoming harder to make ends meet because of the rising price of oil everything from gas to groceries keeps going up.

To keep up with the rising price of all things that we use it seems that it get us further into debt every day because we are charging the things we need because we do not have the money to just pay for them. Although the price of everything we use on a daily basis keeps going up our salaries are not going up to keep up with these high prices and it is causing us to have an alarming amount of debt.

Seeking a Government Grant to eliminate this debt can be a great alternative to consolidating your debt into one loan payment. The advantage you will get by getting a Grant is that the money you receive to pay off your debt will not have to be repaid. This can be a big advantage because even a consolidation loan you will have to pay back and the interest alone can make it difficult.

Remember that when in debt you can get a Government Grant to help eliminate your personal debt and get you on the road to financial freedom.

As a newlywed couple, my husband and I made the same mistake many young couples do when they first get married – we had no budget plan. At first, it didn’t seem necessary because our income was modest, and our living expenses were very simple. I was finishing my last year of college and worked a part-time job and my husband was finishing his doctorate and had found a nice full time job in his field. We lived at the bottom of a hill right next to the University in a one bedroom apartment that cost $350 a month, utilities included. We didn’t even have a car payment. So we didn’t even think about a budget, but just doing our best and getting through school.

Soon enough, about three months into our marriage we started to notice something. Where was all our money going? It was all going out the door every month, but it was a large enough chunk was that it made us take notice of the way we were spending on simple things like groceries, eating out, household expenses, and gifts.

Then, we were told about a very easy personal finance system called “The Envelope System.” It is so simple and flexible that is can be used by and tailored to any person or lifestyle.

First, you start out by buying some plain envelopes – any kind will do.

Second, on a separate piece of paper, list all your main discretionary expenses such as: dining, entertainment, groceries, household, gifts, vacation fund, etc. Basically, any expenses in your life that you have control over, not loans, or insurances, utilities, and such. When we first started The Envelope System six years ago these were our discretionary categories that we came up with: Groceries, Dining, Entertainment, Household Expenses, Gifts, Vacation fund, and Gas.

Third, label each envelope with one category and decide how much money should be put in each category each month, bi-weekly, or week – however you decide is best for you. We decided to put our funds in each category on a monthly basis. At the beginning of the month, when our paychecks came, we took out a certain amount in cash and divided it up into our envelopes. How much you put in each envelope is entirely dependent upon your own lifestyle and income. Some choose to put $100 in their monthly dining out envelope per a month while another may need $400. The key is setting a budget that is within your means, but gives you a little room at the same time; and if you don’t use all the money from one envelope category that month it can roll over and add to the next month’s envelope. It took us a few months to find the right categories and the rights amounts for each envelope. For example, shortly after starting, we realized that Gas was not really a discretionary expense for us. We also realized that I needed some money to spend each month on things I need without having to make justification and without feeling guilty.

Fourth, and last, adjust your envelope system as needed. After a couple of months you may discover you need a little bit more or less in a certain envelope category than you first realized. You may also discover a new category that you need. Review your system every so often as inflation takes place, the economy changes, and your living situation changes. Make sure it isn’t overly tight or way too loose.

We’ve adjusted our system over the years a few times. As jobs change, children show up, or as inflation at the grocery store never seems to end. Now after six years these are our categories: Groceries, Dining, Entertainment, Household expenses, Gifts, Vacation fund. We also have a separate envelope each for my husband and I to use at our discretion without guilt or scrutiny.

The principles of the envelope system are that discretionary money is controlled as cash. The benefits are that when paying with cash, we are more aware of how our money is being spent, plus, there is a physical limitation to overspending, when the envelope is empty, then we have reached our budget. Some months it is easier than others to have cash left over; and when money rarely makes it to the end of the month, it usually means it is time to make adjustments either to the budget or ones habits.

Our situation has changed a number of times through the years. We now have significantly more income than expenses but still use the envelope system not necessarily to restrict our spending but to keep us aware of our spending. As our situation has changed, our situation will continue to change and we will adjust our envelopes as necessary. This system has simplified our finances and kept our spending where we think it should be (according to our needs and lifestyle) for six years now. If you’re looking for a new way to budget, try this out and realize the money and stress it could save you.

Does it feel like you have to be Sherlock Holmes to solve the mystery behind balancing your personal budget? Are you living a mysterious thriller where your realization of “financial independence and security” is a vicious repeating cycle of debt? Don’t be afraid……Somehow you’ve ended up lost in the “plastic zone”.
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The “plastic zone” is a scary place. But you’re not alone. There are millions of people today living the same mysterious life in the plastic zone. Remember green money? You know, that green paper with presidents proudly displayed on them. They have virtually disappeared from the “plastic zone.” Is real Money a foreign object to you? Is the balance of your checking account mysteriously stuck at Zero? It’s time to solve the mystery.

You don’t have to be a financial wizard to solve this mystery. And you certainly don’t have to be Sherlock Holmes. You see it really is an elementary concept. If you ask any elementary school student they’ll tell you that you can’t take 10 from 5.
There can be no negative integers in this equation. Simply put, you can’t spend more than you have! You have to fit your “living” within your “means.”

For most of us living in the plastic zone, this means making some serious changes in our spending habits. It seems an impossible feat to reduce debt while still building a foundation for your financial security and independence. It Can Be Done! And it is “elementary my dear Watson!”

KNOW WHERE YOUR MONEY GOES!

~The first step is to realize where your money goes. How are you spending it? This requires a little recording keeping but is not difficult. Simply write down every purchase you make, that is not a monthly bill, for at least a week. This includes every check, debit, credit card, and cash transaction made (if married, your spouse must do this also). When finished sort these into appropriate categories to plug into your budget later. For example; dining out, lunch at work, groceries, coffee, gasoline, snacks, well you get the idea.

~Second lets tackle that debt. The monkey on your back will always insist on being fed until you take control of your money and say NO MORE! Make a commitment to stop using the credit. You must make a decision to invest in yourself from now on. Not the credit card companies. Take control by knowing what you owe , what you’re paying, and how much it is costing you. Make a list. Include Creditors Name, Amount Owed, Interest Rate, Current Minimum Monthly Payment.

Add up all of your current minimum monthly payments. This is your monthly debt reduction payment for the life of the debt. You will pay this consistent amount each month until the debt is paid in full. Roll down freed up monies from one creditor to the next as accounts are paid. For example: your list of payments include a visa you must currently pay $80 per month. You will make that $80 payment regardless of the minimum due (unless for some reason the payment goes up) until the debt is paid. When it is paid you will take that $80 and apply to another creditors monthly payment. This is the secret to paying them off before you die! And, still have time to enjoy a debt free lifestyle.

~Next, you have to write down regular monthly expenses. Things like the mortgage, cable, phone, electric, car payment,. Any expense that you pay every month. Insurance payments can be included if you pay monthly payments instead of a lump sum. Some of these expenses may not be the same each month ( like the electric bill). You should figure an average monthly amount for these. If your provider offers a budget plan where your payment can be a consistent amount each month, this makes budgeting these bills much easier. So do it!

~Now figure in the variable expenses. These are things like car maintenance, home maintenance, property taxes, income taxes, insurance’s that are not paid monthly, pet care (vet bills, and medicines), your family’s medical expenses (physician co-pays, deductibles, prescriptions (or prescription co-pays). Go through your financial records and write down every expense you can find that did not occur on a regular monthly basis. When you’re done, add the total amounts for the year, divide by twelve, and this will give you an estimate of what you should be setting aside each month to budget these expenses. This is a variable expense monthly allowance to be included in your budget as a monthly expense. You set aside this amount each month (maybe in a savings or second checking account).

This is one of the most important steps in the budgeting process. The one step that most of us forget to do. The biggest budget busters are these “unexpected expenses”. They’re not really unexpected. Most of us just have a tendency to treat them as if they are unexpected. You don’t plan for them. Consequently you will not be financially prepared when they need to be taken care of. You know that the car and home require some level of maintenance, but do you actually have a plan to pay for that expense? Or, when the hot water heater goes up, will you be forced to resort to the help of the credit card companies. This is what they hope you will do. Of course the property taxes have to be paid. Will you have the payment when it is due?

To reduce debt and maintain a successful budget you have to plan for these “variables”. If not, you will inevitably use the credit cards to bail out and you’ll be defeating yourself. The variable expense allowance in your monthly budget will allow you save for these expenses and will be your defense against creating more debt. This is an essential step in building financial security, investing in yourself, and remaining debt free.

~ Set a reasonable amount for your monthly savings allowance. This will be an emergency fund that can bail you out in case of tragic circumstances such as a serious illness or unemployment. Start with 10-15 % of your income and cut back to as little as 5% if you need to balance the budget. But, do save something! Anything is better than nothing. If you have to start small, as your finances improve, you should increase your savings allowance to reach at least 10% of your income.

Of course, once you have all of these figures in place you may find that you don’t have enough money to cover all the expenses. You not alone. I was amazed at how much more I was spending than I was earning. It finally made sense to me why I couldn’t get ahead. Why my debt kept increasing no matter how hard I tried to budget. This is when you have to start eliminating unnecessary spending, trimming down expenses by using some money saving strategies, or possibly considering an extra income.

It isn’t always an easy process. It depends on how much of your spending is “unnecessary”, how much you’re paying out for debt, and how much you want to be free from debt and financially independent.

One things certain, if you take control of your money, and are committed to living debt free, you will find success. If you just keep doing what you’re doing, things will not change, but will inevitably get worse. You will continue to invest in credit card companies, spending money that you don’t actually have, and don’t have a plan to pay back.

So start with a good spending plan that cuts out unnecessary spending, reduces monthly bills and expenses to the bare minimum, and eliminates credit card use. Save money in every area of your budget. Remember, $10 a month doesn’t sound like a lot. But, a savings of $10 per month is $120 per year that you can apply somewhere else in the budget.

Every dollar you free up helps bring the budget into balance. Helps you live within your means. Don’t spend more than you have. It doesn’t get any more elementary than that!

Good Luck and Success! Live Debt Free to Be Free. You Deserve It!

Budgeting money is easy, if you have a basic process to follow. By following a few simple steps, you can put one foot in front of the other and create a workable budget very quickly. Follow the steps below to create a basic budget to build on:

1. Ask yourself what you want to accomplish by creating a budget. Maybe you want to save money for a down payment on a house. Maybe you’re tired of paying a large portion of your paycheck towards credit card bills and want to get rid of them. Or, maybe you’re having trouble paying all your bills on time and you want to change that for the better. A budget is nothing more than a plan for how you want to spend your money. So, deciding what’s important for you will determine what your budget will be focused on. Get out a piece of paper and a pencil and write down in a single, positive sentence, what you most want to achieve with your budget.

2. On the same piece of paper that you wrote your budget goal on, list how much money you receive as income on a monthly basis. If you can get this exact, great. If not, estimate. This doesn’t have to be exact. For example, if you’re paid every other week, just list double the amount of your typical paycheck and mark it with an asterisk (if you get paid every other week, two months a year you get an extra paycheck. But, if this is your scenario, don’t worry about the extra paychecks – they’re gravy – move on.)

3. Now, list your expenses: Mortgage/rent, utilities, car payment, insurance, groceries, gas, credit card bills, etc. Include any items that will help you achieve your ultimate budgetary goal. A fast way to help you remember everything is to logon to your online checking account and review the past 60 days of activity. Don’t burn hours of your time worrying about getting everything perfect the first time out – no one is going to grade your work. Your first goal should be to get a roughly accurate ballpark estimate of where you’re at.

4. Do a little analysis. The odds are good that if you’ve followed the first three steps as described, you’ll actually have a little bit of leftover money showing when you subtract all your expenses from your income. If you’re scratching your head at this because you’re usually running behind every month, here is the aha moment you’ve been waiting for: coming up short means either an unexpected expense has run you awry and/or you have many small expenses that you underestimate on a daily basis that quickly add up to real (budget busting) money. Four dollar latte’s in the morning, magazines, happy hours, eating out one too many times and 500 channels on your television (10 of which you watch regularly) all contribute to this. Which leads us to step number five…

5. Weed out the unnecessary expense. If you think this is poverty consciousness, think again. Even rich people – especially rich people – don’t waste their money on things they truly don’t value. You can make finer coffee at home for much lesser expense, get your tabloid needs more than met on the Internet, have sinful barbeques and happy hours at home with your friends and family for a fraction of the price of going out and survive on less than the extreme deluxe satellite television package, all while having more fun for less money than you thought possible.

6. Keep your mind focused on a budget that leaves you with money left over at the end of the month. Repeat steps 2-5. That’s it. Keep refining the accuracy of listing your income and expenses, and keep weeding out the unnecessary expenses in your life. An extra-credit thing you can do to help you with your budget is to put as many fixed bills on auto-pilot as possible (auto-draft or automatic online bill pay) and withdraw a set amount of cash periodically to cover the miscellaneous expenses. That way, you won’t have handwritten checks, excessive debits or ATM withdrawals goofing up your budget.

Follow the above simple process for creating a budget that will meet your needs, making your life and your family’s life the best it can be.