Hang On To Your Earnings. Earn more. Spend less. Save.

When spending is larger than income you need a Spending Strategy.

A Spending Strategy is a specific plan on how to increase income and decrease spending.

Family Finances can help.

Increasing Income (examples):

  • Get a second job
  • Find handyman projects
  • Qualify for a raise
  • Get a better job
  • Spouse goes to work
  • Get more training
  • Work more overtime
  • Sell something

Reducing Spending (examples):

  • Cut back on entertainment
  • Carry lunch to work instead of buying lunch
  • Look for cheaper housing
  • Go on the “budget plan” at the Power Company
  • Turn the lights off when not using them
  • Replace cable TV with “over the air “TV
  • Get books and videos at library instead of renting
  • Transportation (bus vs. own vehicle)
  • Avoid impulse purchases at the checkouts
  • Reduce vacations and travel
  • Reduce elaborate gifts
  • Spend less on parties and celebrations
  • Clip coupons
  • Buying second hand vs. new
  • Take advantage of seasonal purchase power
  • Use meal plans

Saving (examples):

  • Save a "Dollar a Day"
  • Use the "Change Jar"
  • Start a "Spending Reserve"
  • Start an "Emergency Fund"
  • Save up for a Purchase rather than Borrowing
  • Watch it grow

Also see Analyze Expenditures