Have you tried to live on a budget but it never seems to work ? There is something that always comes up. It is either an unanticipated car repair, a doctor visit, an appliance breaks down, a roof leak, a toothache. No matter how hard we try to keep our expenses at an even pace, there is always something around the corner that we need to spend money on that breaks the budget. So if you want to give it an attempt, here are some tips that may help,

Set a realistic goal

Thats right. Don’t try to set a budget where there is no chance it will ever work. If you set it too ambitiously, you are setting yourself up to fail.

Separate fixed budget and discretionary spending

You already know how much you need each month for insurance, for rent/mortgage, your car payments, phone bill, your cable bill, your internet and any other fixed obligations you may have. The most power you will have saving will be spending on fluctuating expenses. Some of those may include groceries, the electric bill, entertainment, going out to eat and items you want but may not need.

Build strategies for the discretionary items

These are the items you can really put a dent into with the right game plan. Set up goals for coupon savings each month with the groceries. You can set a goal for how much you can save each month on the electric bill if you are conscious about turning off lights and appliances you don’t use. You can keep the AC at a temperature that is comfortable. You may even find ways to cut back on going out to eat using coupons and picking less expensive restaurants.

Give yourself some breathing room

If you anticipate things happening as they always do for emergencies, put some money aside for that very purpose each month and don’t touch it until you need it. In the end, this will be your savior when the unexpected comes to your door.

Pay off high interest debt

If you’re knee deep in debt with credit card bills, student loans or other debt, a budget can help you see how to dig your way out. Always put enough money toward paying more than the minimum payment due. If you don’t, you will never claw your way out of that hole.

If you are on a fixed income with a structured settlement, It might be the right thing to do to cash in some or all of those payments for some cash so you can pay off those high interest bills that never seem to go down. Structure Quote can help you if you want to get info on how to accomplish that. Call today if you want to talk about your specific situation. 1-877-905-7372.