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Paycheck to Paycheck

Tips for Making Ends Meet

By Jenn Director Knudsen

Cari makes her menus on Sunday for the following week. That way she knows exactly what she must buy at the store and what impulse items her family can do without.

When you head to the grocery store, do so on a full stomach, advises Eric Gelb, author of Personal Budget Planner: A Guide for Financial Success (Career Advancement Center, 1992) and the booklet 157 Ways to Cut Your Grocery Bill. Gelb also recommends bringing along tote or paper shopping bags. Some stores offer small savings at the checkout counter for using your own bags. And place your items on the conveyer belt in order of priority. Then, "take periodic subtotals and stop buying when the subtotal reaches your spending limit," he says.

When it comes to clothing, shop the consignment, resale and thrift stores and church rummage and yard sales, especially in high-end neighborhoods. "Discover brand-new Gymboree clothes at Goodwill," Kristy says.

You may be able to reduce seeming monoliths such as utility and credit card bills, Walker says. Call your utility company and ask a representative to come over and assess where you can save money. Some also offer financial incentives for becoming more energy efficient.

Experts recommend a family use only one credit card and pay off credit card debt as soon as possible. But if you do carry debt on your card, call the company and negotiate a lower interest rate. "The key to financial well-being is don't spend money you don't have," Shapiro says.

Make every last dollar you do have count. One key way to do this is setting up an emergency fund. Shapiro says even if you can only put away $5 or $10 a month, you must do it. Soon, you'll see a small fund set aside for emergencies only, such as fixing a leaky roof, broken carburetor, furnace, etc., turn into your family's nest egg for the new car, a vacation or your kids' college educations.

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