Carefully map out your budget3 of 9Don't resign yourself to an all-ramen noodle diet without first setting a detailed budget for living on one family income."Once a couple can see what their obligations are, they can look at that list and determine what they give up," Lawrence says.Beyond the mortgage and groceries, the budget should also include less obvious expenses such as life insurance and disability coverage, Gilbert says.Set spending priorities and adjust your budget accordingly, Lawrence says. Should you give up dining out, or weekend entertainment, or both? Re-evaluate fixed expenses such as cable, cell phone payments and monthly subscriptions.<< Back to the Frugal Living Guide. Related Articles:Save money on groceries10 ways to save on carsTweet for sweet dealsGroup buying saves moneyRelated Links:331 ways to cut costs!Saving goals calculator100 tips to help you saveSaving on foodadvertisement
Don't resign yourself to an all-ramen noodle diet without first setting a detailed budget for living on one family income.
"Once a couple can see what their obligations are, they can look at that list and determine what they give up," Lawrence says.
Beyond the mortgage and groceries, the budget should also include less obvious expenses such as life insurance and disability coverage, Gilbert says.
Set spending priorities and adjust your budget accordingly, Lawrence says. Should you give up dining out, or weekend entertainment, or both? Re-evaluate fixed expenses such as cable, cell phone payments and monthly subscriptions.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.