Every month or so, recurring bills present themselves, gobbling up large shares of family income. Rent or housing payments account for a substantial portion of each consumer’s monthly financial obligation, so this large expense is given priority in most budgets.
Transportation expenses follow lodging costs for most families, who incur costs no matter which mode of travel is chosen. Bus riders and fans of public transportation keep costs down by operating within a shared economy of riders. When mass transit takes in small amounts from many people, the accounts are square and transportation for the public is fully funded. For residents without greater travel needs, public facilities provide one of the most cost effective ways to travel. For families with cars though, the cost of staying on the road can be considerably greater than paying for occasional public transit.
Food is another extraordinary expense, required for the sustenance it provides, and the nourishment furnished to families. The nature of food and housing expenses make them some of the most dogging during life, because they never seem to go away. Just as monthly finances come back to order, large payments for mortgages, car loans and food needs cancel out income, starting the whole progression of events in motion for the next billing period.
Since they don’t go away quickly, and they are close to the same amount each month, expenses like these are known as “fixed costs”. There is little one can do about some of these types of expenses, except to lower them with prudent spending. Discretionary spending, on the other hand, represents the area of consumerism you can manipulate to save money. For families on tight budgets, or those running in to temporary financial difficulties, this is the area to be tapped for savings. Payday Loans can benefit families who find themselves facing financial difficulties.
Discretionary Purchases Provide Savings Opportunities
Keeping your family entertained is hard enough, especially when there are members of various ages with unique interests. Add to that responsibility the ever-present obligation to pick up the tab for family entertainment expenses, and you’ve created a tall order for family breadwinners.
Controlling discretionary spending means trimming entertainment costs, so sacrifices are sometimes required from cash-strapped family members. Instead of dragging the entire family to cinema, for instance, establish a weekly movie night occurring at home. Not only is the cost of entry saved, but the concessions responsible for blowing up most family budgets are also provided much more reasonably when popcorn and snacks are prepared at home.
The resulting savings sometimes lead to more frequent family fun, which is always welcomed as kids age and move into their peer groups. Rather than spending the entire budget on one outing, families spread costs over several movie nights at home. Encourage your kids to bring their own friends, unless an exclusive family experience is what you are after.
Enjoy Low Cost Attractions Close to Home
The fast pace of daily life prompts us to get away when vacation time permits. The experience serves to reset our consciousness, before returning to familiar environs. But what if you stay close to home for fun?
Local attractions don’t require travel, so immediate savings are realized by families finding fun nearby. The iron for most is the wide range of attractions present in close proximity to home, which had never come to mind before. Even world-class tourist attractions and natural features are often found within a short travel distance, saving big over flying out of the country for holiday pleasure.
Even natural resources like parks and campgrounds provide low-cost entertainment options, transporting families to new locales, without burning several tanks of petrol. When times are tight, use your own property or that of a close friend as a camping area, pitching your tent for enjoyment, without spending money on travel.