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Balling on a budget

By Kemberley Washington · Bankrate.com
Friday, August 9, 2013
Posted: 2 pm ET

In these days and times, you have to not only budget, but also learn how to ball on a budget! With the high price of gas, housing, food and other goods, keeping an eye on your money is key!

But is it really possible to live large on a small budget? It is!

Follow these budget-balling principles to stretch your dollar!

Be a good steward

Now listen, balling on a budget requires being a good steward over your money. Understanding what you can or cannot afford is key! Yes, you may desire the designer purse or the designer shoes, but if your budget screams Forever 21 you simply shouldn't be at Saks Fifth Avenue (unless there is a sale). Take the time to not only budget your money, but also incorporate expenses for fun things, such as shopping and entertainment to get an idea of what your budget will allow.

Ask and it shall be given

No matter what, stand up for your money! Sometimes, you may settle for a final price, without negotiating. For instance, if you are seeking housing, ask the landlord if the rent could be reduced or if you are not satisfied with customer service, ask for a credit on your bill. No one deserves your hard earned money more than you! Oftentimes, you have not because you have not asked. But remember, the power is in your mouth! Simply ask and you will be amazed at the amount you are able to save.

Never pay full price

Commit to never pay full price again. Do your homework and think twice before purchasing anything. From housing to household services, with a little research you can find it cheaper! So whether you are looking for a new home, consider foreclosures or if you are seeking tech gadgets, consider websites such as Amazon or eBay. No matter what, some way, somewhere and somehow, you can purchase it a lot less than retail!

Remember: Your choice, your future!

Kemberley Washington is a CPA and professor. Visit her blog at Kemberley.com. Follow her on Facebook or connect with her Twitter.

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