Budget Suggestions From Pioneer Loan Center.

If you have trouble saving or making your paycheck stretch until the next check. We suggest you try this.

MAKE A BUDGET:
A budget has two parts, income and expenses.

Start by writing down all sources of steady income.
Do not include:
Overtime, this can quit at any time, regardless of what your supervisor promises, on again off again side jobs, steady second jobs are ok, but side work can run out without warning, or child support (unless the support is certain, not just promised)

Now that you've written down your income you're ready for the next step.

WRITE DOWN A LIST OF YOUR EXPENSES:

HOUSING & UTILITIES:
  • Mortgage or rent
  • Electric
  • Natural gas
  • Water
  • Garbage pick-up
  • Home phone
  • Cell phone
  • Groceries
  • Laundry
  • Clothing

    • TRANSPORTATION:
  • Car payments
  • Insurance
  • Gas
  • Bus fare

    • OTHER
  • Credit card payments
  • Other loan payments
  • Child care
  • Spending money
  • Coffee, cigarettes, etc.
  • Cable TV or satellite service
  • Internet access
  • Dining out


    • Keep a journal of everything you spend.
    I know that this is not something you want to do, but it will tell you where your money went, and you'll be surprised how much you spend on junk food and little items.

    STEP 2: ADD IT UP
    If your out-go exceeds your income, you need to cut back.

    SUGGESTIONS FOR CUTTING BACK :
    Get your children a prepaid cellphone, so when their minutes run out, they're out. Otherwise the kids will text msg the person sitting next to them, because they don't have to pay the bill.

  • Eliminate cable/satellite service or cut back on extra subscription channels.
  • If you have internet access, choose the slower option, I know you hate to wait, but speed is rarely anything but a luxury.
  • Cut back on smoking if you can. (Easier said than done, but with the price of cigarettes it will save a lot)
  • Cut back on coffee and coke. Drink water.
  • Take lunches to work instead of eating fast food.
  • Shop around for cheaper home and auto insurance.
  • Use coupons to save money on groceries.
  • Rent videos instead of going to the movies.
  • Turn down the water level on your washing machine and dishwasher if it is adjustable.
  • When you leave the room turn the lights off.
  • Turn the heat or air conditioning down while you are not home.
  • Don't overheat or overcool when you are home. If you can stand it at 80 degrees in the summer, don't turn the A/C to 67. Ceiling fans help
  • Use long distance less. Use email or write letters instead of calling.


    • STEP 4: WRITE IT DOWN!
    Once you have figured out the basics, WRITE IT DOWN, if you don't you'll probably forget
    If you get paid every two weeks, Divide your bills into two sets, one per pay period

    EXAMPLE :
    FIRST PAY PERIOD
  • Car payment
  • Car insurance
  • Day care / baby sitter
  • Electric / Natural gas
  • Phone
  • Cable TV
  • Groceries
  • Gasoline
  • Spending money


    • SECOND PAY PERIOD
  • Rent
  • Day care / baby sitter
  • Credit card
  • Groceries
  • Gasoline
  • Water

    •  

    If you don't think you can make some of these suggstions work, call a credit counselor.
    Click here for Consumer Credit Counseling, a United Way nonprofit agency.


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