Recognise the Difference Between Want and Need

by Adrian
(Spokane, Washington)

In today's economy, it can be very difficult to save money, especially considering how the recession has driven up prices on most everything.

It's important not to be pessimistic; you aren't doomed to poverty, you just need to learn the simple tricks of money saving.

Here are a few tricks that help me out, and might work for you too.

First, you must set up a plan. Figure out the combined cost of all your bills and expenses to find out how much spending money you actually have. Planning carefully when creating a budget can help in the long run because you may find yourself with more 'play' money in your budget than you'd expected.

One way of budgeting your money is considering an emergency. You don't HAVE to spend your money, just because it's there (a common problem for those who are trying to budget money).

If you have money left over at the end of the month that you didn't spend, put it in a savings account for emergencies such as injuries, sudden need to travel, and any other risk that goes along with daily life.

If you are not worried about an emergency, rolling over excess money into your savings will help.

I lost my job due to the recession, which means I don't have nearly the money I did a few months ago in my savings. The recession has made it hard to afford going to school and budgeting money becomes essential.

The method I've found of calculating leisure money and 'rolling over' the excess has been found to work best for me. This method stops you from having to completely restrict yourself to forgo fun, but it keeps your money in check and stops you from letting it all slip away.

The hardest part of budgeting for me is recognizing what I want, and what I need. Being able to do so is vital in making sure that food, shelter, and water (the basic needs of a person) are met and you are not at risk of losing the most important things to you during this difficult time.

In today's economy, it can be very difficult to save money, especially considering how the recession has driven up prices on most everyth...

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