Facing Financial Uncertainty? Four Tips to Stay On Budget

This one seems like a given, but with everything that’s going on in our daily lives, it’s easy to lose focus on current expenses and evaluate what is essential and what needs be cut. It also helps to put your expenses into categories to determine prioritization.

• Fixed expenses: housing, food, utilities, insurance, debt payments, healthcare
• Variable expenses: clothing, fuel, recreational expenses, personal care, entertainment

Once you have prioritized your current expenses, you can develop strategies to save on future costs, like reviewing what you have at home first before heading out to the store. You might be surprised to find items in your house that you already have and don’t need to restock right away.

• Those boxed meals that have been hiding in the back of your cabinet can finally debut on the dinner table.
• Those puzzles and games in the hallway closet can be a fun substitute for renting  movies. Starting a sharing group with neighbors to lend each others’ puzzles and books can also keep the fun going without spendingmoney.

A strict budget doesn’t mean you won’t spend any money, but smart spending gives you reasonable ways to get what you need while staying on budget.

• Buy shelf-stable groceries that won’t spoil, like pasta, beans, or rice.
• Take advantage of coupons, cashback apps, and vouchers.
• Buying in bulk saves you multiple trips to the grocery and is often more affordable.

For those in more financially stable situations, target your purchases that benefit local businesses that may be struggling.

• Buy local whenever possible to help small businesses.
• Spend your money with companies committed to helping their employees and consumers during this pandemic.
• Donate to SAWS’ Project Agua which provides emergency payment assistance to eligible residential customers who are having difficulty paying their water bill.