Four Simple Budgeting Tips You May Not Have Thought Of

Money Tips

Four Simple Budgeting Tips You May Not Have Thought Of

hand putting money coins with filter effect retro vintage style

Debt can be daunting for anyone to manage. The truth is, with a little bit of effort, you can turn your financial situation around using these simple tips you may not have thought of before.


  1. Keep Your Goals in Mind — Write down your financial goals (or a picture of what you’re saving up for) on a small piece of paper and tape it to the back of your credit card. Every time you get ready to use that card you’ll be reminded of your goals before you pull the trigger — and maybe you’ll decide not to splurge quite so much.
  2. Cut Back 5% — In most cases, your car loan, mortgage and automobile insurance are fixed and cannot be reduced. However, there are plenty of “variable expenses” in your budget as well — movie tickets, dinners out, that new outfit you had to have. Reduce your variable expenses by a small amount of just 5%. If you normally spend $100 a month going to the movies, you would only need to cut that down to $95! The savings add up quickly if you do this across all your variable expenses. Once you get used to that level, try to cut out another 5%.
  3. Adjust Your Financial Outlook — Did you know that by putting as little as 50 cents a day away, you can save around $200 in 12 months? If each member of the family adds his or her extra change to the jar that amount can double — the larger your family is, the more money you can save! Begin by adding the coins from your pants or pocketbook to the jar at the end of every day. All that loose change adds up pretty quick, and it’s one budgeting tip that can easily fit into any financial planner.
  4. Make Biweekly Home Loan Payments — Getting set up on a biweekly mortgage payment program is a good way to be fiscally responsible. It pays off in savings and financial security by reducing the total amount of interest you pay on your loan and speeding up the time it takes to achieve debt freedom. Instead of paying your home mortgage once a month, you’ll pay half that amount every other week. By doing this one simple step, you make 13 payments each year instead of 12. The savings can really add up fast. For example: If you have a 30-year mortgage for $272,000 at 4.5%, making biweekly payments can save you more than $37,000 and pay off your house 53 months sooner. This strategy can even be applied to other kinds of debt, such as auto loans and credit cards, multiplying your savings and speeding up loan payoffs.


Get more information about biweekly payment programs and budgeting advice at Biweekly payment programs through AutoPayPlus can help you pay down debt quicker. Withdrawals from your account every other week fit conveniently with paychecks and your monthly budget, while an extra half-payment twice a year toward principal reduces interest over the life of the loan. Please visit to learn more.