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I have incurred a huge amount of debt. I am trying to pay it off through an alternative repayment plan. Can anyone suggest me some effective frugal budgeting tips so that I can save a considerable amount of money every month and use it toward the payment of my debt.

There are a number of things you can do to tighten your belt.
1. Get rid of cable or at least switch to a basic plan that is the least expensive.
2. Start purchasing generic or store-brand products (food, healthcare, hygeine, etc.).
3. Pack your lunch.
4. Never spend change. Instead, save any change you have and deposit it back into your account every payday.
5. Use coupons.
6. Stop dining out.
7. Only purchase items that are necessities.
8. Use online banking or pay your bills via websites (to save money on stamps).
9. Unplug electrical appliances (TV, computer, etc.) when not in use.
10. Turn your thermostat setting down 1 or 2 degrees.
11. Conserve water by reducing your shower time by a few minutes, don't run water while brushing your teeth, etc.
12. Check your car insurance rates. Can you increase your deductible and save? Or perhaps switch to another company?
13. If you have a cell phone and also have a home (land line) phone, get rid of the land line.
14. Switch your cell phone plan to save money. You're likely paying for a lot of features you don't use.
15. Get your oil changed, check your tire pressure, drive the speed limit - all of these things will conserve gasoline.
16. Use public transportation when (if) possible.
These are a few things to get your started. I hope this is helpful to you.

Sub: #1 posted on Mon, 11/01/2010 - 06:19

OhioGal1 OhioGal1
Moderators Cum Industry Expert
(Posts: 5253 | Credits: )

Thanks Ohiogal1, contacted my cell phone provider tonight, was able to cut my bill back by taking away things that I never use.

Sub: #2 posted on Mon, 11/01/2010 - 20:14

DorenC DorenC

(Posts: 156 | Credits: )

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