Monday, July 22

Is Your Monthly Budget $2,000? Not An Issue With These 6 Tips

How much is YOUR monthly budget?

No matter how old you are or what circumstance you find yourself in, learning how to live within your means is always a valuable life skill.

From managing your monthly budget better to finding clever ways to save money, we’ve come up with a roadmap to help you live comfortably on $2,000 alone.

It may sound hard to believe, but whether you’re looking to get rid of your debt, set some extra money aside for a rainy day, or you simply want to live a more frugal lifestyle, we want to help you find ways to stretch your dollar further.

So, without further ado, let’s get into 6 easy tips for living comfortably on a $2000 monthly budget!

Monthly Budget
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Find More Affordable Housing Options

We get it! This probably means less square footage and might involve renting a home or apartment instead of buying. But even though it may not be the location of your dreams, it can save you some big bucks on housing costs in your monthly budget.

You might have needed lots of space when your kids were growing up. But now that they’ve moved out, do you really need those extra rooms? Probably not. You don’t have a growing family anymore.

Plus, downsizing and getting a smaller property means having less to clean up as well! In the long run, it’s a win-win!

Save Money on Groceries

Food is obviously one of the most significant expenses in American households’ monthly budgets. So it’s essential we all learn how to budget for this category. One of the most effortless ways to do this is by cooking at home on a regular basis.

Besides saving you money, it will help you live a healthier lifestyle as well. But while this can overwhelm many people, you can plan your meals in advance. This is a great way to also avoid impulse buying, and you’ll waste less food.

Another great way to cut down on your grocery bill is to buy in bulk whenever possible. When it isn’t, make sure you visit a more affordable supermarket in your area. This might require a bit of extra effort. But it’ll save you a lot of cash in the long run.

Spending less on groceries each month is very doable if you’re conscious of what you buy, how you store your food, and where you go grocery shopping. Here are some smart grocery shopping tips you can follow to save more money on your monthly budget:

  • ALWAYS shop with a list
  • NEVER shop hungry!
  • Plan your meals around what’s in your fridge and pantry
  • Buy in bulk
  • Buy what’s in season
  • Choose generic over name brand
  • Shop at more budget-friendly stores
  • Buy frozen food when possible to reduce waste
  • Take advantage of weekly deals, coupons, and grocery store apps

Pick More Affordable Health Care

Health care costs will vary greatly depending on where you live, your level of income, and what your health care needs are. Presuming you make $2000 a month or less, your revenue should be low enough to permit you to get Medicaid.

If that’s not a right fit for you, there are many other choices out there for affordable health care. For example, Stride Health, Inc. is a California startup that connects individuals with health plans under the Affordable Care Act.

It has found health insurance plans for people that cost less than $1/month. We’re positive that they can do the same for you! Having more affordable health care can do wonders for your monthly budget.

Monthly Budget
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Save On Your Electricity Bill

There are many effortless ways you can save on your monthly budget for electricity. And this doesn’t just affect your wallet. It’s great for the planet too! Here are a few ideas:

  • Unplug any device when you’re not using it.
  • Switch your desktop computer with a laptop.
  • Line-dry your clothing whenever possible.
  • Replace your lightbulbs! The US Department of Energy says that LED lightbulbs consume 75% less energy than incandescent versions. If you still have those in your home, you should switch them out today!
  • Unless it’s dark outside, you should keep the lights turned off. Open the blinds on your windows to let all the beautiful natural light in instead.
  • Use a portable electric heater in winter instead of warming up your entire house with central heating.
  • Dress according to the weather! Instead of blasting your AC while wearing a sweater, put on a pair of shorts and a T-shirt around the house when it’s warm out. The same rule applies if it’s cold outside. Bundle up a bit more and drink warm beverages rather than raising the temperature in your home.
  • Fix any air leaks you may have in your home.
  • The cost of utilities can vary depending on the month, making monthly budgeting a bit of a challenge. If you’re renting, look for a place that has electricity included! If it is, you’ll never be surprised by the bills coming in at the end of the month.

Save On ALL Utilities

We already know how expensive utilities can get. But there are many small ways you can reduce them. The most obvious yet vital monthly budgeting tip for beginners is to be mindful of your consumption.

This means turning on the dishwasher only when it’s full, turning off the lights when you exit a room, and so on. Also, you can negotiate your bills with your service providers. That doesn’t work 100% of the time, but it’s worth giving it a shot.

But most important of all, you should buy energy-efficient appliances. They’ll lower your utility bill, and it’s much better for the environment. The downside to this last tip is that it requires a more significant initial investment.

But it’s cheaper in the long run. It may not be the most practical idea if your budget is already pretty tight, though.

Spend Less On Clothing

Some people love shopping at thrift stores. Others, not so much. And while some love having a minimalist wardrobe, others…simply don’t.

But the main idea here is that whether you want or need to save money, sometimes you do what you have to do to keep your monthly budget on track. Know to distinguish between wants and needs and how to get the best deals in your area.

Certain Goodwill stores have a ninety-nine cent day twice a week, where an article of clothing with a particular tag color is all ninety-nine cents. You can make a pact with yourself to only go to Goodwill on those days and only with the ninety-nine cent clothing.

It might not be the shopping experience of your dreams, but your wallet will definitely thank you for it

Monthly Budget
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The Bottom Line

Don’t sweat it if you need to start living off $2000 a month! It’s possible to survive…and even thrive on this type of monthly budget. You’ll just have to be a bit more frugal than you’re used to if you want to live within your means.

Living on a tighter budget can be difficult at first. But it’s not impossible. There are ways to reduce your expenses and make the most of your limited resources. Just follow our tips for living on $2,000 a month.

And if a strict budget isn’t enough, you can move to a more affordable place. Do you have a hard time keeping track of your monthly budget? Amazon has some fantastic planners to help you stay on track. We’re particularly fond of this one!

 We hope you found this article on monthly budget planning useful. For some more great tips, we also recommend reading: 7 Grocery Store Items You’ve Been Wasting Money On

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