Budgeting advice to save and shop smart

As inflation prices surge families and individuals’ finances are coming under strain. Many may find that they are now having to borrow money from friends and families. A local financial advisor has some advice and tips on how you can start budgeting.

Gary James from Summit Wealth Group said "The first thing to cut out is discretionary expenses. And the thing I think of first always is eating out. We all love to eat out a little meal planning, avoiding McDonald's, avoiding Burger King, or wherever your favorite fast food place happens to be can actually save a lot of money over the course of a month or so."

James says a good way to start saving is to automate your saving out of your check so that you won't be tempted to spend it.

" If you're saving for education for your children, you can probably go ahead and have that drafted out of your checking account or anything you can do to automate the process and make it to where you really don't have to think about it much. Yet you're still saving, and staying within those budget limits is good," said James.

One Meridian Resident says she has a plan when shopping and sticks to it to avoid buying unnecessary things and says others should do the same.

“Have a plan before you leave home and also a budget and stick to it at an older age,” stated Zilphia Marsh.

Another resident however says that she does not make a list or budget when shopping.

Elaine Riddell said,” Well, I really don't. I pay my bills first and then whatever's leftover, I can spend.”

According to James, you can start saving and budgeting anytime you want, and making and sticking to a plan helps.

"So I would say start with the discretionary things you don't have to have even recreation. We tend to spend money on recreation when oftentimes we can do things that cost nothing. We've got parks, we've got lakes that are free. So anything that's discretionary that you don't have to have, I would begin there for sure," said James.