More on Balancing the Budget

This week, we’ll continue working our way through the various categories as we work to balance the Money Management Plan.



  • Consider refinancing high-interest-rate loans.
  • Reduce the number of cars you own.  Does a household really need more cars than drivers?  Or can a couple of people share a car?
  • Have you considered having your teens pay their own car expenses?
  • You can also increase the deductible on your car insurance…at minimum, I would encourage you to shop around and make sure you are getting the best possible rates on your insurance.
  • Look into carpool options for driving to work.
  • Do have the skills needed to possibly do some of your own maintenance?  Or you can ask a friend or family member who does to help you and teach you in the process.
  • If you have an expensive car, consider selling it in order to buy a less expensive used car.



  • Begin by Comparison shopping at places such as at and
  • Check insurance company ratings at AM Best and by looking at the Consumer Reports magazine (at library).
  • Consider opening a Health Savings Account
  • Check out using Christian Medical Sharing instead of traditional medical insurance.



We will discuss debts in further detail as we continue on this process of living on a balanced Money Managment Plan.



  • Eat out less
  • Exchange babysittng services with other families
  • Get creative in your entertainment choices: picnic, swap videos, game night, camping, church activities
  • Save money by traveling out of season
  • Check out movies and books at the library versus buying them.



Shop at Second hand/consignment stores; sew own clothes; shop on-line to save money and at garage sales; ask family/friends for hand-me-downs



  • Start saving something from each paycheck, even if it’s only $5
  • Consider having an automatic withdrawl done from your paycheck and put into savings, so you do not even see that money each month.  This makes it less tempting to spend!


We’ll continue with our last section of ideas next week.

Don’t forget to read Part 1 – Do you know what you spend?, Part 2 – Organizing What You Spend, Part 3 – Making a Money Management Plan, and Part 4 – Balancing the Budget if you have not already done so.

One thought on “More on Balancing the Budget

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