Analyzing your Expenses

• Where can your find extra money to put into this savings?
• Working overtime is an option when possible. 
• Working from home or starting your own business on the side is another option. 
• Getting a better job can help you start saving money. 
• Trying for a raise is always an option, but not always going to happen. 
• Cutting back on the bills that you have is a viable option without much extra work. 

So let�s take a look a little closer at your options to see what you can put into motion so you can start working towards your own goals and large purchases in the next few months or years. 

Set an amount that you want to save or earn. Starting with a basic goal of $1,000 or even $5,000 you need to have a goal. Next you have to set a time line for yourself. If you have four years, great, maybe you only have sixteen months. What ever the set amount is and the time frame you need to look to where you are going to get this money so you know what exactly you have to do. Let�s say you want $1,000 in six months. This can be difficult, but if you put your mind to it you can really do it. 

Take a look at your bills. What can you do without? Do you need 150 channels on that cable or can you get by with 50 � how much do you really want television anyway? 

Do you need the long distance on your home phone and your cellular phone? Do you even really need your cellular phone? This is one type of bill that you have to reflect on and make choices about if you want to save money and put more money into your savings account. 

Cutting ten dollars a month from your television bill, and cutting out the one phone bill, you can save at least $40 per month. Take that multiplied by your six months and you have $240, not a bad start! If you really think about it, if you don�t need it, don�t spend your money on it and you can meet your savings goal even faster!

So you are about one quarter of the way to your goal just by looking at two bills that are in most all households. Now we can move forward and look at a few more things that most of us face in our daily household budgets that can help you find even more money to cut and save. 

Take a look at your car insurance. If you haven�t changed anything lately, you might want to look at a new company and finding a reduced rate. This could save you $100 in six months sometimes even more. 

Take a look at your grocery bill. Most all of us can cut no matter what. Start using coupons, and start changing what you are eating. The more you cook at home and quit eating out, you can easily save $100 a month. That is $600 right there! Eating out more than two or three times a month is very costly and can weigh heavily on your household budget. 

• If you work outside the home, carpooling can save you at least $10 a week. 
• If you work outside the home, packing your lunch can save you at least $2 a day!
• If you work outside of the home, find a babysitter that is a little cheaper, that can save you lots of money!
• If you work outside the home, take the shortest route to work, and don�t stop for coffee, take coffee from home in the morning this can save you at least $4 a week if not more.