Living on less or with one income

In today's economy it can be very difficult to manage a household's finances. Especially due to the rise of inflation on gasoline, groceries and many other necessities. Not to mention the lack of employers hiring for work or having a job, but being underpaid. Barely making enough money to pay the bills or living paycheck to paycheck. All too often this is the scenario, which is frustrating. So what can families, individuals, seniors and so on do to keep afloat in 2011. There are practical things that you can do right now to avoid falling through the cracks. They are listed as follows:

1. Pay your bills on time. This is essential to avoid extra charges or even worse losing your service and having to pay a fee to have it reconnected.

2. Eat out less often. You may spend more than you realize dining at restaurants, especially if you have a family. Prepare your meals and beverages at home.

3. Shop with a list. This will help to eliminate impulse buying.

4. Downsize. Especially if your family members have moved away from home or gone to college. Constantly reevaluate your household.

5. Needs vs. Wants. Ask yourself, is this something I really need, like a fur coat or do I just want one. Wait 3 months to buy it and see if you still want it. You may be surprised!

6. Coupons. Very effective way to save money and rebates as well on products and appliances. You can find rebates online also.

7. Save energy. If you are considering buying a new car, how about a fuel-efficient one. Also turn off the lights, computers, TV and other devices while not in use.

8. Eliminate luxuries. Do you really need premium cable or could you live with basic or none at all. Decide if you need both a home phone and a cell phone.

9. Resources. Instead of renting movies or buying books, why not use your local library to check them out for free.

10. Buy in bulk. You will pay less money in the long run.

11. Consider alternative shopping. Like thrift stores and goodwill's. You can still find name brands and stylish clothes for a fraction of the price.

Now, I'm sure that you can think of more ways that you and your family can save money. I listed just a few. It really comes down to your mental outlook. Changing the way you view possessions and look at life. We are constantly encouraged to buy more, buy bigger and upgrade, but if we can find contentment in what we have we can live on less.