Hole Numbers: Best ways to cut bloated budgets to help save

If you have a budget, that’s great. If you have a budget, and you use it, even better. And if you don’t have one, you should get one soon.

As in now.

Budgeting is the difference between those who can save and those who have no idea why they can’t amass dollar one in a savings account or even think about retirement on the simplest levels.

And even if you do have a budget, the success of it depends solely on if you actually follow it or if it’s more window dressing and dreaming than actual reality of your financial situation. Budgeting has to be specific, and to the last dollar where you don’t overlook anything, even the most inconsequential expenses.

And here’s one rule about budgeting that often is overlooked, for those who have it and use it properly: it’s a constantly changing entity.

That means you should be budgeting and adjusting and altering your budget when you have the opportunity or at least every so often to make sure you really are saving as much as possible. What the general public tends to overlook is a budget that is bloated in some ways or, at the very least, revisiting and revising what you’re paying for certain products or services.

For starters, you should be checking rates every year, whether you’re thinking about transferring debt or perhaps just questioning how much you’re paying for car insurance, home owners insurance or anything of that ilk. Some even make it a point to lower the interest rate on their home or are continually shopping for better rates on anything in their lives that is tied to a percentage point.

Beyond your interest rates or what you’re paying for your utilities and other bills, you can’t overlook things such as cable television, phone service, grocery bills and even something as arbitrary as a gym membership.

As for the membership, you might be able to cut your rate in half based on frequency and what you’re doing. Some facilities are as little as $10 per month, and if that suffice what you need, then why not switch?

Cable television is slowly being affected by streaming services that cost a fraction, such as Netflix, Hulu and Sling. And if you’re overpaying for data from a larger carrier, think smaller since most networks are basically the same. So if you’re not traveling to Japan for work, you might want to cut that bill in half and save on the extras, such as data plans you’re paying for when unlimited is the wave of the future.

No one is suggesting that budgeting is easy, but the hard part comes from those who ignore theirs once it’s written on paper. Instead, think about altering it and fine tuning it always, to further engage in your finances and save the kind of money that makes a difference.