With increasing debt a more common issue and the economy the way it is; it seems that many people are trying to be wise with their money. Some tactics include brown bagging your lunch, starting or rebuilding their emergency funds, cutting unnecessary bills, and sticking to a budget.

These tactics are great to follow in general, not just during difficult times.

With us now switching to depending on one income, we have to be a bit smarter with our cash. The good news is that it is not too much of an adjustment.

I received my last paychecks from my job on Friday. It took a few days, but everything seems to be cleared now. I feel better knowing that the hard part is done.

Knowing my history of unconscious spending, I decided to automate my budget. My husband proved invaluable with his ideas. 

I scheduled bill payments, deposits, and withdrawals, and transfers. I used ING Direct to set up the transfers since they do not charge fees.

How I’m allocating my paychecks:

• 34.61%          Joint Checking
• 10%               Emergency Fund
• 23%               Car Loan
• 23%               Student Loan
• 10%               Gas & Food

If all goes well, we should be fine with our bills without dipping into any savings. The two adjustments made to our budget are: less money will go into the house fund and eat more at home until I find an office job.

How have your budgeting and saving strategies changed? What tips do you use to cope with today’s economy?

Photo Credit: babasteve

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