Howto: Survive on a tight budget

The cost of living has increased and it’s become increasingly hard to survive and fulfill your basic needs on little income. Analysing the few tips below can kill your stress and help you live comfortably on a tight financial plan. Make a budget It’s not a fun activity, but it’s a necessity for proper management of your money. Start by listing your income in one column and your expenses in another. To maximise disposable income, scrutinise all of your fixed monthly expenses and eliminate every one that you think is not a necessity. Be brutal at first; you can always add something back to your budget later if you can afford it and find out it’s worth the expense not to live without it. Buy in bulk It is a lot cheaper in the long run to buy in bulk than to buy things in ones. If, for example, you buy 12 soaps in a box, most of the time you will find that if you divide the price you paid by the number of soaps, the cost per each soap is far less than buying the soaps separately. Don’t be a fashion victim Never buy the item for the sake of new fashion until their prices have been reasonably reduced to its quality level. Avoid brand names Sony, Phillips, Erickson, Hitachi and others are well known electronic companies and because they are well established, they tend to be more expensive. Look for the less well known names. They are often just as good as the most established companies, the only difference being the name. Choose clothes that are made well, but lack designer labels. What’s important is that you have clean, well-fitting clothing that looks nice on you, not that you’re a walking advertisement for people you even don’t know. Plan ahead Have a garden and learn to grow your own vegetables on your small plot of land. Contact: pauluskayiggwa@yahoo.com