|
|
Flexible Expenses are those expenses that can be greatly affected by your choices. This means that you should be able to find ways to save money on each of these line items.
- Groceries - Everyone needs to eat - right? Yes, food is essential, but what you buy and how you buy it can make a big difference in your food budget!
- Tip: Make a list and buy only what you need
- Tip: Take advantage of sales, use coupons and buy in bulk
- Tip: Split costs with roommates
- Phone - Once considered a luxury, a phone has now become an essential part of daily life. It is important to keep track of your phone habits - especially long distance - and make sure your calling plan suits your needs.
- Tip: Shop around for service - forgo the "bells and whistles" to save money
- Utilities - Electricity, water, gas, - depending upon where you live, you may have to pay one or more of these utilities at rates determined by the utility companies. However, you can be a smart consumer and conserver by being thoughtful about your use of air conditioning and how long you spend in the shower!
- Tip: A small electric fan is a good way to move air around and lower the temperature without using the air conditioner. Save that air conditioner for really hot days and save a few dollars off your utility bills!
- Transportation - Your choice of transportation will determine what you spend in this category. You may be able to rely on public transportation and save a great deal of money. However, if you must have a car, the age and type of car that you choose can have a great impact (or not) on your budget. A new car will usually have lower maintenance costs than a used one, but it comes with a payment and higher auto insurance rates. And, that fancy sports car will cost you even more in payments and insurance than a commuter sedan!
- Tip: Check out if your campus or community offers free or discounted public transportation. This can include campus/community shuttle buses and/or discounted or free transit passes.
|
