VIEWS: 2 PAGES: 2 CATEGORY: Financial Planning & Retirement POSTED ON: 5/24/2012
All financial decisions and activities of an individual, this could include budgeting, insurance, savings, investing, debt servicing, mortgages and more. Financial planning generally involves analyzing your current financial position and predicting short-term and long-term needs.
Give Your Entertainment Budget a Makeover to Save Money Even if you're doing well managing your money, you can benefit from giving your entertainment budget a periodic makeover. Below are some easy ways to adjust your entertainment budget and save money. You should have an entertainment budget. If you don't have a dollar amount that you allow for entertainment in your budget, then you should establish an amount. Many people do not establish this amount and end up overspending on entertainment which quickly becomes an expensive habit. Do not cut out a category of entertainment, but adjust its frequency. If you like going to concerts and can afford concerts, you should continue to go but you might attend concerts less frequently. Alternatively, you change from following one well-known artist to including attending performances by newer or local might artists to reduce the costs of going to concerts. You should reserve eating out as a social activity rather than as a part of meeting your everyday meal requirements. There are a lot of great deals in terms of specials offered by prepared food providers but you can still eat more cheaply by preparing your own food. Consider a museum outing instead of a mall outing. Even if a museum charges a small admission fee, you are likely to spend less at a museum than you would at a mall. When you choose a museum to visit, choose a public museum run by your city, town or state rather than a private museum because private museums usually charge more expensive admission. Consider discount movie theaters or attending a movie for a matinee in order to save money on admission. If you find yourself going to a full-priced movie, you can avoid overspending by walking past the snack counter. Plan vacations during off-seasons if you have flexibility in scheduling that will permit you to do so. If you to plan your vacation during the off-season, make certain that the activities you were looking for decide can be done. For instance, you should not schedule a vacation to a ski site when there's no snow and content still yourself with hiking just to save money. Look for discounts for activities you enjoy on the Internet. Many companies have periodic promotions that will allow you to participate in activities you enjoy for less money than full price. If you live in an area with public transportation, use it when you're going out at night. You can avoid parking and fuel expenses if you avoid taking your car out for evening socializing. Decline invitations to places that are more expensive than you had in mind for your budget by suggesting a less expensive option or stating that the activity is more expensive than one you had in mind. If you are socializing with friends, they will have no problem with your honesty and will not pressure you to spend more than you can. Your entertainment budget will vary at different times but is an important consideration for you to account for in managing your personal finances. Use the ideas above to give your entertainment budget a makeover.
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