After you start looking at your expenses for the last three months and have begun to make the cut backs, do it again. Here are some additional cut back tips.
1. Identify what are necessary expenses and what are luxury expenses. What are your needs and what are your wants. You do need groceries, but does everyone in the family need a cell phone or do you need the expensive cable package?
2. After reviewing your bank and credit card statements, do you see any patterns in your spending? Review you miscellanous spending. There is always something you can cut back on.
3. Prioritize your budget. List your expenses from the most to least important. Then assess what you can cut back on.
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