Smart Ways to Invest with a Small Budget

Invest With Small Budget - Woman Looking At Stocks Chart on Computer

Learn smart ways to invest with a small budget. Hopefully, this post will inspire some new ideas for earning more from your money.

Key Points From This Post:

  1. Set clear financial goals aligned with your investment decisions.
  2. Start an emergency fund with 3-6 months of living expenses.
  3. Invest in low-cost options like index funds and ETFs.
  4. Use fractional shares and micro-investing apps to start small.
  5. Invest in yourself through education and skills development.
The following is a guest post from my bloggy friend Ashley Nielsen. Interested in having a guest post on my website? Click here for my guest post submission form.

Investing is often seen as a privilege reserved for those in high tax brackets. However, the notion that investing requires a large budget is no longer valid in today’s dynamic financial landscape. With the advent of technology and innovative investment platforms, there are now smart ways to invest even with a small budget. This opens up opportunities for individuals who may have limited funds but still aspire to grow their wealth and achieve their financial goals. In this article, we’ll explore some practical strategies and techniques that can empower you to make the most of your small budget and embark on a path of successful investing.

Set clear financial goals

Establishing specific and measurable financial goals when investing with a small budget is essential. Clearly define your objectives, whether saving for a down payment on a rental property or building an emergency fund to cover unexpected expenses. A clear focus allows you to align your investment decisions with your long-term goals. Take the time to break down your goals into smaller milestones, allowing you to track your progress and stay motivated toward your goals. Regularly reassess your objectives to ensure they remain relevant and adjust them as needed based on your evolving financial situation. Setting clear financial goals is the foundation for a successful investment strategy.

Start with an emergency fund

Building an emergency fund is a crucial first step in investing with a small budget. This fund provides a safety net for financial security during unexpected events such as job loss or medical emergencies. Aim to save at least three to six months of living expenses in a high-yield savings account or a liquid, low-risk investment. This fund helps protect your assets from being prematurely liquidated, ensuring you don’t incur unnecessary losses. Make it a priority to consistently contribute to your emergency fund until you reach your target amount, and avoid tapping into it for non-emergency purposes.

Utilize employer-sponsored retirement plans 

If your employer offers a retirement plan like a 401(k) or a similar option, take advantage of it. These plans often provide attractive benefits, such as tax advantages and employer-matching contributions. Contribute to the plan, especially if your employer matches a portion of your contributions, as it’s free money. By starting early and consistently contributing to your retirement plan, even with a small budget, you can harness the power of compounding and build a substantial retirement nest egg over time.

Invest in low-cost index funds or ETFs 

When investing with a limited budget, focusing on cost-effective options that provide broad market exposure is crucial. Low-cost index funds and Exchange-Traded Funds (ETFs) fit this description. These funds track a specific market index, such as the S&P 500, and offer diversification by including various stocks within the index. They often have low expense ratios, meaning you pay minimal investment fees. By choosing reputable funds with a history of consistent performance and low costs, you can gain exposure to the stock market without a big initial investment.

Consider fractional shares and micro-investing apps

Invest With Small Budget - Group Meeting with Woman Looking at Chart on Paper

Fractional shares and micro-investing apps have made investing accessible to individuals with small budgets. Fractional shares allow you to invest in stocks or funds with a fraction of the share’s cost, making it easier to diversify your portfolio and invest in companies with higher-priced stocks. Many investment apps offer fractional shares and micro-investing features, enabling you to start investing with as little as a few dollars. These apps often provide educational resources, automated investing features, and user-friendly interfaces, making the investment process straightforward and convenient. Utilizing micro-investing tools allows you to gradually build your portfolio, even with limited funds.

Dividend reinvestment plans (DRIPs)

Dividend reinvestment plans (DRIPs) are a great way to maximize your small investment budget. Some companies offer DRIPs that allow you to automatically reinvest dividends received into purchasing additional shares of the company’s stock. This strategy permits you to harness the power of compounding by acquiring more shares over time. When dividends are reinvested, you benefit from the potential growth of both the stock price and the dividend payouts. Research and choose companies with a history of regular dividend payments and strong financial stability to maximize the benefits of DRIPs.

Peer-to-peer lending 

Peer-to-peer lending platforms provide an alternative investment opportunity if you have a small. These platforms allow you to lend money to individuals or businesses in exchange for interest payments. While this investment option carries some risks, it can also provide higher potential returns than traditional savings accounts. Research and carefully select reputable peer-to-peer lending platforms with strict borrower evaluation processes and offer robust risk management tools. Diversify your loans across different borrowers and loan types to mitigate risk. Regularly monitor your investments and reinvest the interest earned to compound your returns over time.

Education and personal development

Investing in your knowledge and skills can significantly impact your long-term financial success. By allocating resources to educational opportunities and personal development, you enhance your expertise, increase your job prospects, and potentially earn a higher income. Consider pursuing certifications, attending relevant workshops or conferences, or enrolling in courses that align with your investment interests and help improve your financial situation. For example, if you have poor credit invest in your credit management skills. The more you invest in yourself, the better equipped you’ll be to make informed financial decisions and grow your wealth over time.

Avoid high-cost investments

When investing with a small budget, be mindful of expenses that can erode your returns. High-cost investment products, such as actively managed funds or individual stocks with frequent trading fees, can significantly impact your investment performance. These expenses can eat into your returns, making it harder to achieve your financial goals. Instead, opt for low-cost investment options like index funds or ETFs, as mentioned earlier, as they typically have lower expense ratios. By minimizing costs, you keep more of your investment gains and increase your overall investment returns. If you want to invest in something with minimal upkeep and low risk, consider investing in precious metals

Regularly review and adjust your portfolio 

As your financial situation evolves, periodically review and adjust your investment portfolio. Regularly assess whether your portfolio allocation aligns with your goals and risk tolerance. Consider rebalancing your portfolio if certain investments have significantly deviated from your target allocation. Additionally, stay updated on market trends, economic conditions, and changes in investment regulations that may impact your portfolio. By actively managing and adjusting your investments, you can optimize your returns and stay on track toward achieving your financial objectives.

Investing is for everyone

In conclusion, investing with a small budget is no longer a barrier to building wealth and securing a prosperous future. Adopting intelligent strategies and leveraging technology allows individuals with limited funds can participate in the investment world. Whether it’s through fractional shares, robo-advisors, micro-investing apps, or diversified portfolios, there are various avenues to capitalize on. Remember, the key lies in starting early, educating yourself about different investment options, and staying consistent with your contributions. With patience, discipline, and a growth mindset, you can turn your small budget into a powerful tool for long-term financial success. So, don’t let the size of your budget deter you—take that first step and embark on your investment journey today.

About the Author – Ashley Nielsen

Invest With Small Budget - Guest Blogger - Ashley Nielsen

Ashley Nielsen earned a B.S. degree in Business Administration Marketing at Point Loma Nazarene University. She is a freelance writer who loves to share knowledge about general business, marketing, lifestyle, wellness, and financial tips. During her free time, she enjoys being outside, staying active, reading a book, or diving deep into her favorite music.

Financial Freedom: Strategies for Managing Your Money and Achieving Your Goals

Strategies for Managing Your Money - Man Counting Coins

Living paycheck to paycheck can create financial stress. Learn strategies to manage your money through budgeting, paying off debt, automating savings, and more.

The following is a guest post from my bloggy friend Megan Isola. Interested in having a guest post on my website? Click here for my guest post submission form.

Living paycheck to paycheck can be stressful; you never know if you can cover all your bills. They say money can’t buy happiness, but it can help reduce stress. Financial freedom allows you to live a quality life without worrying about money. However, it doesn’t mean you’re necessarily wealthy. Instead, financial freedom allows you to pay your bills and have enough left to invest in savings. 

The definition of financial freedom varies from person to person, but it will allow you to live comfortably without stressing over money too much. In addition, becoming financially free permits you to focus on more substantial parts of your life, such as saving for a home or retirement. But unfortunately, many people struggle to reach financial freedom because of their spending habits. If you’re wondering how to maximize your budget and reduce financial stress, here are a few strategies for managing your money: 

Define Your Financial Goals 

Having a goal to become financially free is one thing, but you need an attainable goal to work on. First, consider what financial freedom means to you and your financial goals. For instance, are you looking to save more money for retirement or a particular future goal, or are you simply trying to save more money and reduce your spending? Once you’ve determined what financial freedom means to you and have goals in mind, you can analyze your current financial situation. 

Analyze Your Current Financial Habits

Before becoming financially independent, you must look hard at your finances to learn where your money goes. If you’re constantly wondering where your paycheck goes every month and why you’re left with very little after paying your bills, you should start tracking your spending immediately. Identifying all of your spending, including bills and entertainment, can help you find ways to reduce it. For example, you might find that you spend an excessive amount of money on streaming services you don’t even use. 

Additionally, you should compare your spending to your income. For example, are you breaking even every month or paying too many bills with a credit card, leaving you in debt? Comparing your income versus expenses can help you determine how much you need to cut back to save more money. 

Automate Savings

Automating your savings account can help you put more money away in an account you’re less likely to use for non-essential expenses. After subtracting your expenses from your income, you can see how much you have left over and set up automatic deposits to send money from your checking to your savings account to ensure you save at least a little bit of income every month. 

Start Paying Down Debt

Strategies for Managing Your Money - Woman Counting Dollars

Being financially free means having zero debt. If you have any debt, you probably receive monthly bills that prevent you from being able to spend your money exactly how you want. Of course, everyone has a little bit of debt throughout their lives. For example, homeowners have mortgage loans, while many college students take out loans to pay for their education. Additionally, many of us have credit cards because they come with benefits like improving your credit score and allowing you to purchase items without paying for them immediately. 

However, if you’re not careful with how you use your debt, it can quickly become a burden. If you have substantial debt, start repaying it immediately to achieve financial freedom. You can use several debt repayment strategies to reduce your debt over time and help you stay on track, but consolidating your debt might be the easiest solution if you only want to pay one single bill every month. 

Once you reduce your debt, you can have more free money for important savings goals like buying a home, purchasing a car, or saving for retirement. 


What if you could grow your wealth without taking on an extra job or side gig? You can invest. Putting some of your money towards stocks, bonds, retirement accounts, and other types of investments can help you build wealth over time and help you earn more every year. If you’re considering investing, you can use a Robo-advisor to make all the hard decisions, or you can work directly with a human financial advisor to ensure you build a portfolio supporting your savings goals. 

Build Credit

One way to save money is to build your credit score. Having a higher credit score can get you a lower interest rate on any loans you take out, including home loans. In addition, having a good credit score makes you a more trustworthy borrower, so you can get better terms when you take on debt. 

Create a Budget

After understanding your income versus expenses, you can create a budget to help you understand where your money goes every month and how much you have left over. Having a budget can help you hold yourself accountable. You already know your regular monthly bills and how much they’ll cost. Knowing how much is left over and what you can use it on can help you make better decisions with your money. For example, do you need to purchase those expensive shoes you saw online? Probably not, but you can create a new savings goal and set aside a little bit of money every month to purchase them in the future. 

A budget helps you make smarter spending decisions and will help you understand exactly how much money you have left over every month. Then, you can decide what to do with that money — whether it’s putting it into a savings or retirement account or spending it on entertainment. 

Achieve Financial Freedom

Achieving financial freedom isn’t a direct route to wealth. Instead, it can help relieve some of the monthly stress of paying your bills. Financial freedom is easier for some than others, depending on how much they earn. Therefore, you may have to find more ways to earn money to increase your savings. However you go about it, constantly analyzing your financial situation can help you make better spending decisions. 

About the Author Megan Isola

Strategies for Managing Your Money  - Guest Author Headshot

Megan Isola holds a Bachelor of Science in Hospitality and a minor in Business Marketing from Cal State University Chico. She enjoys attending concerts, trying new restaurants, and hanging out with friends. 

Buying Clothes On A Shoe String Budget

Nowadays fashion trends come and go. Styles that are now in will be quickly dropped for another hot look two months from now.

Dressing up really doesn’t have to be that difficult. Trends can be fun for the whimsical who enjoy keeping up with them, but painful for people who cannot afford to be following fashion cycles that move and change as quickly as water. Keeping a few fashion-wise things in mind can help to balance out the crazy cycles.

Working with Styles that Never Fade

Some styles never seem to go out of fashion and can always be useful. Fashion tends to go in cycles and certain styles always do seem to make it back one way or another. For instance, polyester blends do not go out of fashion. Polyester is very wearable and simple to care for. It is a synthetic fabric that saves time and money for the person who chooses to wear it.

One way to battle the fashion trends is to always have some fabrics like polyester or even rayon blends that never seem to go out and are very wearable. Also, stocking the wardrobe with some basic pieces including stripes, dots and monochromatic colors can prove to come in handy and can be used any time under jackets or with jeans.

Leaning on Accessories in Fashion

Accessories are a fun way to make any outfit look like a million bucks. If the dress or the pants cannot be purchased, or are way out of the budget’s reason, accessories can save the day. Colorful bracelets, pins, necklaces, rings, and even belts, beads and purses can add a sense of style and update any look.

Just open up a popular fashion magazine and see what is in store for the season. Chances are there will be a wide display of current accessories to choose from. This may also include makeup, specifically, what is being done with lips, cheeks and hair accessories opposed to last season.

Seeking out Shops within Budget and Reason

Many stores have pumped up prices on clothing especially if the look is a hot, trendy, sought after style that has stemmed right from the fashion runways into the mainstream. There are other places that exist that do not have such high pricetags. These places may include thrift shops, consignment shops, and certain (gently used) clothing boutiques. Stores such as these tend to carry irregular, lightly used or sell out clothing items for much cheaper prices.

To wrap up dressing great on a budget, just try to keep styles and fabrics in the closet that never seem to go out, pile up on the accessories of the season to keep it moving, and seek out plenty of bargain clothing shops (stay clear of department stores). With these guidelines, dressing fabulous on a budget will be very attainable.

Clothes Shopping On A Budget

Stick to a clothing budget by shopping sales racks, wholesale retailers, and second hand clothing stores and learn to live with only what you need to avoid debt.

Clothes shopping on a budget doesn’t have to be the end of the world. With some prior planning and changes in your shopping habits, saving money on clothes and eliminating debt from spontaneous buys will become routine. A balance of name brand retailers and department store sales, wholesale retailers, and shopping second hand clothes sources offer much variety and the thrill of a chase for clothing bargain hunters.

Prior Planning

Wardrobe building on a budget takes time and intentionality. Choosing key pieces and accessorizing around them provides a solid foundation. For example, a black suit is a key piece that can be accessorized with various shirts, jewelry, shoes, and even other tops and bottoms.

Planning purchases before hand saves money on clothes, as it reduces impulse buying and the resulting risk of debt. Keep a list of clothing needs handy for shopping, and purchase key pieces when you find a quality deal that works with your budget. Avoid emergency shopping- buying a funeral dress the night before the funeral- as those purchases add up over time.

Shop Name-Brand Stores with Care

Name-brand retailers and department stores offer the latest trends and name brands. Their selection can also come with hefty price tags. Browsing these racks offers an idea of what is in fashion and what could spice up a certain outfit. Purchases should only be made if the item is necessary or the money is available, however. Ask yourself, before purchasing any item full price, the following questions:

	Do I need this?
	Do I love myself in this?
	Can I afford this?

Name Brand stores’ sale racks offer a welcome break in price. Check your favorite stores regularly over time, and get in the habit of browsing the regular displays, but purchasing from the sales rack. Carefully examine all sales rack items before purchasing clothing, however, to check for holes, stains, and lost pieces. Also check the store’s return policy, just in case you are uncertain about an item.

Frequent Wholesale Retailers

Familiarize yourself with wholesale retailers in your area. Wholesale retailers such as TJ Maxx and Tuesday Morning sell discontinued or overstocked clothing from department stores at discounted prices. The items available in these stores vary, but includes many name brand items. Use the same caution here as you would in any store. Inspect clothing for holes, tears, and stains, and familiarize yourself with the return policy.

Buying Second Hand Clothes

Second-hand clothing retailers, such as Goodwill, the Salvation Army, and other consignment stores, offer used items that others have donated. Shopping for second hand clothes can be hit or miss. Sometimes, a name brand piece in excellent condition will be a real bargain. Other times, the rows of unorganized clothes on hangers seem like a nightmare.

It’s important to approach buying second-hand clothing with a grain of salt. Real bargains exist for those who scour the racks. A quick tip for quickly covering a wide area of clothing racks- run a hand along the fabric, and if the fabric feels soft and attractive, it is likely cotton, cashmere, or another quality blend.

Shopping second hand works well if one is open to the possibilities, but can be frustrating when seeking a particular piece. Give yourself plenty of time, and be open to the possibilities. Many vintage pieces, available few other places, are waiting in consignment stores for someone to notice them. Carefully inspect second hand items for holes, tears, and stains, as you would any clothing before purchase.

By shopping sales, wholesale, and second hand, clothes shopping on a budget can be both affordable and fun.

Dressing Like A Celebrity On A Budget

Celebrity offers the impression of elegance and sophistication. While this is not always the case, any individual can look expensively dressed with a few simple ideas. Decide which celebrities are worth emulating because some wear some strange outfits and it depends on the image you wish to portray.

Begin by working out how much you can spent during a month or year. What is a safe amount which will give you the look you want without damaging you other commitments.

Read the magazines and keep a sharp eye out for current trends. Decide which items, if any, will suit your body shape, coloring and style. The secret to looking well dressed is knowing what looks best on you. Sometimes avoiding a fashion trend all together will make you stand out. Some cuts of clothing, however fashionable will never look good on every body shape and are best left alone.

Current taste in colors might flatter some but can look dreadful on others. Find tones which are close but set your skin off more successfully. By developing your own style you can build a basic wardrobe of simple, well cut clothes which enhance your appearance. If the basics are well done, the addition of an inexpensive current item like a top or jewelry can give that twist which shows you know what is in without revealing what you spent. Mixing and matching quality and low cost is a subtle art.

When you know what is current, then look at magazines and round the shops to find alternative, inexpensive versions. There are some stores who specialize in current fashion items which cost much less than they would in a high street store and they pride themselves on what they can offer. These places might take time to hunt through for what you want but they will certainly give you a bargain.

The next stage is to remember less is more. Celebrities tend not to load themselves with costume jewelry. They may wear some extremely expensive ornaments but there are always inexpensive alternatives which are affordable and will give the subliminal impression that they are worth more than they cost if the rest of the outfit is elegant. When the fashion has moved on, you can put them aside until they come round again. Besides, celebrities often are given or lent clothes and jewelry to advertise the fashion houses. The ordinary person does not have this sort of access.

Dressing like a celebrity but on a budget requires planning and discipline. It requires some dedication to keep up to date with current fashion and what the celebrities are wearing.

Easy Ways To Save Money On A Tight Budget Hot Frugal Living Tipswords

Living on a tight budget is easier than many people think. Learn effective frugal living tips to save money easily.

As economic crises throughout the world continues to worsen, it is now essential to save more money to make ends meet. Numerous individuals who still have well-paying jobs are contemplating how long will it last and what will they do if no longer have their jobs. Many are already experiencing the stress and hardships of economic crises.

Do economic crises mean that there is no hope for those who are trying to make a living? Not, not at all. Mankind has survived and adapted through numerous hardships in history. Therefore, it is possible today to effectively cope with economic crises. This can be done by living a frugal or simple life. Frugal living means to live smarter without wasting much money and other resources. The following information shows some effective frugal living ideas to save money on a tight budget.

Save More Money on a Tight Budget – Live a Simple Life

Living a simple life means focusing more on the things that are necessary to live. It is important to think first about the essentials of life such as water, electricity, food, transportation, and housing. Paying these bills should be a person’s first priority. Entertainment and other activities should be less important priorities. While it is important to focus more on these priorities, it is also vital to take necessary steps on managing them properly to save more money.

Homeowners can save more money on water by checking the toilets for leaks, taking shorter showers, and washing full loads. Using energy star approved products, unplugging unused devices, painting the rooms with brighter colors (more light is reflected off the walls), using fluorescent light bulbs, and using the air conditioning system moderately are ways to save money on electricity.

To save money on food, try to keep the foods fresh for as long as possible by safely keeping them in the refrigerator/freezer and by using containers. Reduce eating too much superfluous foods such as snacks and other appetizers. Focus primarily on eating meals about three times a day.

The concept of living a simple life really is simple: avoid buy things that are not needed. When it comes to television entertainment, choose a basic service that has the channels that the family mostly watch.

Frugal Living Tips – Self-Sufficiency

In addition to living a simpler life, it is also important to be more self sufficient. Being self-sufficient means to be capable to provide oneself without the aid of others. Being self-sufficient can save people on a tight budget a lot of money. One can start being self-sufficient by providing for himself. For example, those who have experience gardening can start planting their own fruits and vegetables—which is of course more fresh than the ones in the stores.

Those who have experience in construction and engineering can fix their own materials when they are broken, rather than going to the local mechanic store—which can of course be costly at times. If someone does not have any substantial background experience, he can ask a close experienced friend or view instructional do-it-yourself articles and videos online. When it comes to computing, it is not always necessary to buy software. Instead of using illegal pirated copies, use open source free (or free versions and trials) software.

Family Camping On A Budget

Summer family camping trips are ideal for those who appreciate the great outdoors. Filled to the very brim with fun activities and bonding with family, camping is a wonderful experience. Yet camping trips can be as diverse as the people who enjoy them. Terrains differ, climates differ and so do the activities and camp style options. Location changes everything, the campsite options differ and this can have great bearing on whether one enjoys their camping trip of deems it a nightmare. So how does one ensure their family has a memorable camping trip?

Do some online research:

Research the location you have chosen for the camping trip prior to heading off. Your research should include finding out about the terrain, wildlife, safety or possible hazards of the area and if flash flooding is likely occur. One will need to know if there is another way out of the campgrounds if needed due to mudslides, bush fires and so forth.

Check about the access and if the location is only for 4×4 vehicles or all vehicles. Perchance one can only backpack to the campground. Knowing upfront is imperative. Check out the terrain on Google and find out exactly what awaits you arrival.

When camping it is important to get good gear. The most important item when camping is your tent. Look for double stitching to keep out the elements. Put a mattress pad or spare sleeping bag on the floor of the tent to cushion the ground. Quality sleeping bags that fit the temperature range you will be sleeping in are best. You can buy specialty bags for extreme temperatures.

Check Ebay and local used sporting goods stores for great items at a low price. Don’t invest a lot of money into camping gear until you see if you enjoy it.

Make sure you know the local fishing/camping regulations in the area you plan to go. Since many areas have specific laws governing fishing, campfires and other burning you may want to check with the local authorities on what is and isn’t allowed before you plan on going to an area.

If you have kids that are addicted to technology, I strongly suggest you don’t enforce “roughing it.” Allow your kids small blocks of time so they can enjoy their vacation too! Your child may be more enthusiastic about fishing or a nature walk if they can text message their friends about it afterwords.

Don”t Forget:

A First Aid Kit
Pictures of Poison Ivy and Oak (so you can recognize and avoid)
Bug Spray
Suntan Lotion
Benedryl (in case of allergic reactions)
Plastic garbage bags (for all those muddy clothes and shoes that have to be transported back home)
Flashlights for everyone Books to help identify Leaves, Birds, Bugs, Owls, Tracks, Animals, and Fish

Ways to save:

Bring your own ice
Invest in a quality cooler
Save those extra ketchup/mustard packs from fast food restaurants to take on camping trips
Buy camping equiptment for the next year during the fall
Bring Paper Towels
Find out if your camp site has a laundry, bring your own detergent and softener
Have the kids wear their old shoes instead of their new ones, creeks, trails, and sand can quickly destroy shoes

Financial Planning And Family Budgeting

Whether it’s the start of the calendar year or the beginning of financial year (March- April), financial planning is an important matter for families and individuals alike.

While it doesn’t require an intensive research on the subject of finance and accountancy, there are some basic facts that a family needs to keep in mind while preparing the budget.

Prepare the Income and Expense Sheet

The first and foremost thing in the preparation of a family budget is a calculation of the monthly income. This includes the net take home salary for working professionals, profits in case of businessmen and entrepreneurs and earnings from other sources, such as rent proceeds or investment returns. This income then forms the basis for calculating all expenses and savings.

Identify the Major Expense Areas

Every family has some basic expenses. While some of them are incurred annually, most of them are monthly outlays. They can be broadly categorized as:

 Housing – Rent, maintenance and repairs, mortgage, insurance
 Loan – Monthly installments towards housing, vehicle, personal, property loans
 Utilities – Electricity, water, gas, cable and groceries
 Transportation – Car/vehicle fuel, maintenance, Insurance
 Children – School fees and other charges, uniform, clothing, medical, nanny/day care
 Personal Care – Clothing, grooming, accessories, club memberships
 Pets – Medical, grooming, food, maintenance
 Entertainment – Outings, movies, family celebrations, religious ceremonies
 Taxes – Annual contributions towards financing the government expenditure
 Savings and Investments – compulsory savings and investments towards children’s growth funds, pension schemes, shares, bonds and financial securities
 Emergency Funds – Medical urgencies, unplanned travel, loaning money to a relative or close family friend

Involve Family Members in Formulating the Budget

It is necessary to involve the spouse and children while putting together the family budget. Every member of the family needs to understand the importance of financial planning and make the desired contributions. Children need to be aware of their family income so as to avoid wasteful expenditures.

Outline Measures to Curtail Expenditure

Once the household budget has been broadly outlined, the couple needs to identify measures to cut down on unnecessary expenditure. Some expenses can be postponed to the next month while some can be completely avoided.

Find Out Additional Sources of Revenue and Earnings

A property that is laying vacant can be given on lease or rent for commercial or residential usage. The paychecks from this source can add to the family income. Households where both partners are educated but only the husband is contributing towards the family income can add to their earnings with the wife taking up some part time-work work or working from home. There are many such opportunities available on the internet today. A person just needs to evaluate the options carefully before making a choice.

Add the Savings Sheet

A budget is incomplete without a summary of the savings and investment schemes. Once the expenses have been chalked out, the next step is to prepare a savings plan. A family can decide on the various saving options like bank fixed deposits, pension plan, or investments in bonds, securities, mutual funds, etc.

Budget Planner

Once the income sources and expense items have been identified, it becomes imperative to prepare a budget planner. There are many budget planning programs that can be downloaded from the internet for making a budget. The essentials of a planner are to include every income, saving and expense item in detail.

Track the Planner

Lastly, track the planner on a monthly basis to check the progress and correct deviations if any. Modify the planner so that it is in line with the current situations and requirements of the family. Make room for exigencies like medical emergencies, unexpected arrival of guests, unplanned family occasions and travel.

Financial planning goes a long way in helping individuals to keep a tap on their expenses and spending within feasible limits. Family budgets are a helpful tool in facilitating a balance between the year round spending of the family unit and its source of income. A family that maintains and updates the budget on a regular basis can surely avoid financial hiccups in the long run and can make modest additions to their family savings kit.

How To Have A Beautiful Wedding On A Budget

Congratulations, you’re engaged! Now to start with the wedding plans, but there is just one problem: the cost of a wedding these days is crazy. If you don’t have thousands of dollars to spend on a wedding there is good news you don’t have to spend that much, and still have a fabulous wedding.

The first thing you are going to want to get is a note pad. The will enable you to write down any notes you want to take also. You can separate it into pages for individual parts of the weeding ranging from the flowers to bridesmaids. This little book could mean the difference between forgetting something and not forgetting that one important detail.

Lets talk about the most important outfit of the day your wedding gown. Today some women spend thousands on a beautiful gown, however this is not necessary. There are a few ways to find the dream dress for you and at a reasonable cost. The first way is to wait till the wedding season is over and then hit your favorite bridal stores for those amazing dress sales.

It is not a bad thing to buy your dress in the sales, it just means you get the dress at a cheaper price and what could be better than that? after all you will only wear the dress once. Another way to find a great wedding dress a good price is to look on e-bay. Worried the dress may not fit? Many of the dresses on e-bay actually get made to fit your measurements, so it is made to fit you. If you like a dress on e-bay that does not get made to fit you, do not panic, get the dress and find a good priced tailor or someone who can sew and get them to fix what needs fixing.

Bridesmaids dresses: There is no need to get custom made bridesmaids dresses. When prom season is done go to the stores and check out the sales. You would be surprised what you can find. Just because it is a “prom dress” does not mean that it can not be used as a bridesmaids gown. And in reality how will ever know the difference?

The mens tux: There is no need to go out and buy a whole bunch of expensive tuxes, unless your groom plans on wearing it more than once. Instead hire out the tux for the day. You can find tuxes to go with the type of wedding you are planning. You can even go with your groom to make sure he does not pick out something that is the complete opposite of what the wedding intends to look like.

Flowers: The bouquet you need to worry about is yours, after all yours is the bouquet everyone looks at. For the bridesmaids instead of giving all of them a bouquet how about just having a single flower such as a Lilly or rose with some ribbon for detail. It maybe small but they also look so beautiful. There are some alternatives to having flowers at the alter, how about having a few candles, just make sure that they are placed in positions where no one will catch fire, or you could find yourself having a wedding remembered for all the wrong reasons.

Center pieces: Having flowers on every table at the reception can get very expensive. So how about having candles and maybe some confetti. The candles will add a sense of extra romance to the day. They will look beautiful and set of any wedding day.

Food: Having caterers do the food does mean less work for you however they can get costly. Get some friends and family to band together and make some food for the big event. It does not have to spectacular after all most people that attend weddings normal just want food that they can pick at rather than having a huge great meal.

These are only a few parts of a wedding, however i hope this will give you some ideas and tips on how to have a great wedding and not have to pay a huge amount of money. It funny how when you start a wedding on a budget it all seems to fall into place and you naturally start looking at ways to reduce the cost.

The main thing to remember is that the wedding as an event is just a small part of the day, the big thing is the love you and your groom want to share with your family and friends. No cost should put a barrier between the two of you on your special day.

Tips For Maximizing Your Style On A Budget

For some reason we all have it in our heads that in order to have style we need to have money. This is entirely not true. You can take a look at various glossy gossip magazines to prove this fact. Style does not come from the size of your bank account it comes from you, the person with in.

There is a well known saying that money can buy fashion but it cannot buy style.

If you think back to when many of the leading designers of today started out, neither of them had the millions they have. They took the simplest of ideas and turned them into radical personal statements and began revolutions.

Who ever invented the simple t-shirt would have been proud of the way people have put their personal stints on them, you can buy a plan white t-shirt for pennies and just buy letting your imagination go can make it look breath taking just buy cutting a bit off here gluing or sewing a few beads or sequins there. And voila you have a totally different look. The important thing is knowing where to cut and where to glue.

Over the past few years I have discovered that I do not have to buy a new outfit every time I go out. I just modify the items I have. I do love fashion but this isn’t always possible when you have limited funds. You may frown at the idea of charity shops, markets and non high street shops as I used to but I am telling you some of my nicest pieces have come from shops I have no clue of the name or the place all I know is I paid minimal for them and they look great.

The most successful shopping trip was when I raided my mums old suitcases which where loaded with things from the 60’s 70’s and 80’s. I came out with dresses, tops, jumpers the list goes on and a paid nothing for them. You see fashion does come back around, with the exception of the 80’s shell suit, shoulder pads or rib cracking corsets with 10 mile wide skirts. And it’s knowing how to team them with the looks of today.

Markets for me are the greatest placed to pick up things and the greatest thing is you will not walk down the street and see twenty people wearing the same thing. Once upon a time my friend was overjoyed at the fact that she had bought this absolutely amazing dress and was flaunting it around like there was no tomorrow only to leave the house in it and see five other girls wearing the same thing.

Needless to say she was mortified. And she’d spent a fortune on it. Another example was when I was online browsing and a came across the beautiful pair of shoes. I made my self a promise as soon as I get paid I would get them. So pay day came I went to get them. But when I got there they had lost their appeal. Determined not to go home empty handed I went to any shop which had a sale sign in the window. That day I came out with a whole outfit shoes and all for the same price as the shoes.

As stated before style comes from within the individual. You either have it or you don’t and even more so on a budget. You can take a very old and battered pair of jeans team it with a simple tee or shirt and it will be the accessories that make the outfit like bright shoes, big bangles some earrings maybe a head scarf just know how to coordinate the colours and a lovely vintage bag thanks to mummy.

A simple tee can cost as little as under a fiver and the jeans well like I said an old battered pair that’s probably been in the back of your wardrobe for years just as the tee. And the accessories need not cost a bomb either or be bought at all you can mix and match with things you have acquired over the years. There you have a nice outfit for everyday living.

You see people as quoted by a very very prestigious well known designer Fashion comes and goes but style is forever. Remember you do not have to follow the crowd to look good. Know the colours that suit you, know what cuts suit you and more than ever know your budget.