Yahoo Finance How to Save Money With a Hectic Schedule
You know the feeling. You have a dozen things you have to juggle before the end of the day and you have no idea how you'll get the things done that you need to this week. Whether or not you're truly busy is up for debate, but the point remains that life is and can be hectic.
One potential fallout of living in the midst of chaos is making poor financial decisions. You may be frugal in nature. You may do all you can to save money. You may even like tracking your expenses, but the constant feeling of running around like a chicken with your head cut off can derail all of those desires when you're pinched for time and cause you to make a decision contrary to what you might normally make.
Ultimately, those chaos-induced, poor financial decisions cost you money both in the short and long term. It can be difficult, but the last thing you want to do is give into the excuse of lack of time to make a poor financial decision. That being said, if the messiness of life is waging war with your wallet, consider some of the following ways to stay true to your frugal roots.
Plan
Planning is the best way to save money when you have little time. This will require a little work up front, but is well worth it in the long run. By knowing your exact schedule you can begin to determine pain points where spending might creep up.
One example is preparing meals. If you have children and they're involved in extracurricular activities, you'll feel the pinch come dinnertime. It's easier to get dinner out than spend the time preparing a meal. That costs money. If you haven't budgeted for it, the funds have to come from somewhere.
A simple way to counteract this is by preparing meals in advance. You can do this in a variety of ways -- from making freezer meals and to preparing ingredients beforehand, to alternating cooking responsibilities. Yes, it requires work in advance but that work can save you time and money.
The same thing is true for many other activities. Plan them out in advance, so far as you can, and the forethought will allow you to know how to handle the time pinch. When you do this in tandem with a budget, you can confidently make decisions when rushed instead of scrambling.
Make it Simple on Yourself
If planning is the best way to save money when life is hectic, simplifying is a close second. The last thing you want when you're pressed for time is to be faced with a difficult decision about what to pay for; making a choice under such circumstances will lead to either a poor decision or avoiding a decision altogether.
One simple way to avoid this is through automating bills. Personally speaking, I know my wife and I would forget to pay half of our bills each month if they weren't automated. Some don't like to automate bills, but the benefit is in the time savings.
I don't have to remember to pay our utility bill or cellphone bill each month -- it automatically comes out of our bank account. As we compare prices to get the best value possible, we not only save money but time as well.
Going back to cooking, you can accomplish the same thing by identifying a handful of meals that use the same basic ingredients. You give yourself flexibility and savings without having to come up with something new or fall back to eating out.
Combine Events
Wise multitasking is a great way to save money when you have little time.
You can go as simple as grouping all errands together so you save on gas and time, or combine a clothing exchange with a play date rather than having to go out to buy new clothes. While neither may apply to you, there are plenty of ways to multitask to save money -- you just have to think outside the box.
Even if you feel too busy to stop and think about saving money, there are many options available that will help you stay true to your frugal nature in spite of your hectic schedule.
John Schmoll is the founder of Frugal Rules, a finance blog that regularly discusses investing, budgeting and frugal living. He is a father, husband and veteran of the financial services industry who's passionate about helping people find freedom through frugality.
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