In my comments, my awesome real estate agent Robby Leviton dropped a link to a sweet-tastic infographic put on by Intuit. It was posted about a year ago, but the details are still relevant. I wasn’t surprised in the slightest that the largest expenses were food and entertainment. Now, I am all for gettin’ my food on and catching a good flick, but there are thousands of dollars in potential savings here. I like that they, too, are trying to remove the word “budgeting” from the list of household swear words, as that has been my goal from the beginning as well. So let’s check out what a household budget can do for YOU!
Thanks to Personal Finances from Quicken for proividing this!
Now, I’ve done a few of the things suggested here, but definitely have some room for improvement. I have a few bulbs I can replace, and my air conditioner looks like it’s been sitting outside for two decades (oh wait…it has…). I also can insulate my water heater that I installed, and we are starting a garden this year. That’s a potential savings of $680 per year! So, how much can YOU save based on this graphic?
Budgeting is a scary word for many people even those that are savers. I’ve had a heck of a year trying to get the attention of those types of people. I’m trying to draw attention to those that are doing what they can to save but not really looking at their overall financial health using a budget. Some people are scared to take that first step and others think they are not poor enough to use a budget which is a total misconception. A budget is only as good as the person using it. Let’s hope we can spread the word in 2013 to those that are skeptics to get on board and take control of their finances with a simple budgget and a plan. Mr.CBB
Canadianbudgetbinder recently posted..Market Value, Appraisal Value, Assessed Value….How did they Value my Home?
I’m with you, Mr. CBB!!! Seriosuly, let’s start the budget movement! I’ll make the video and everything
Love this! I need to switch out the bulbs, insulate my hot water heater and figure out a way to do my own oil changes. Luckily, for most of these, I’m below the average figures by a good amount!
The Happy Homeowner recently posted..2013 Financial, Personal and Household Goals
Yea, the average American is super wasteful! But man, I am above the figure for gas because of my commute. Luckily I started carpooling
This is definitely very enlightening. PS If I only spent $450 a year on alcohol then I would be rich haha
Michelle recently posted..$1,193 in Extra Income, Life and Picture Updates
HAHAHAHA! I lol’d.
I can’t believe that the average family spends that much on clothes. I spend *maybe* $200-$300 a year for the four of us! I love this infographic. Thanks Jacob.
Holly@ClubThrifty recently posted..5 Ways to Stop Collection Calls
Same here. We didn’t even have “clothing” in our budget until our kid came along.
The water bottle in the toilet tank is one I’d never seen before! This is full of great ideas!
Gen Y Finance Journey recently posted..Should You Cancel an Old Credit Card?
I think we’re going to do that one soon!
Right on, man. This is a kick-ass infographic. Of course, there’s a mini “latte factor” thing going on in the kitchen, but I can ignore that….
AverageJoe recently posted..Stock Market Punishment: The First Lesson of 2013
Love the info graphic and all the easy ways to save. I never thought about insulating my hot water heater to save money but it defiantly does make sense. I may have to add this one to my weekly round up and mentions.
This is a sweet infographic. A lot of great tips on saving. I will disagree with the oil change every 3k miles. This is no longer necessary unless you have a car that is older than the year 2000. Most cars can easily run every 5k or 7.5k. Just another way to save!
Grayson @ Debt Roundup recently posted..Effective Tips on How to Avoid Getting into Debt
We already do a lot of these (programmable thermostat and a low flow toilet save us money I’m sure). I wish we could do a home garden, but living in the city we don’t have any yard space. I was thinking next year we might do some potted plants on the roof, but I worry they’d get too much sun. We’ll see when summer rolls around.
KK @ Student Debt Survivor recently posted..Reasons You Didn’t Get Hired-Part II
We do lots of these already. I almost never buy clothes anymore, but I bet I used to spend that much. Is my soda worth $300/yr? I’ll have to think on that one.
Kim@Eyesonthedollar recently posted..Options for Diversifying Your Investments
These are all great tips. I already do a lot of them, but not all. There’s always room for improvement. I need to stop leaving my chargers/small appliances plugged in while they are not in use. I knew they were an energy suck, but have never really done anything about it.
Daisy @ Money Smart Guides recently posted..Benefits of Pre-Paid Cards
This is a great way to see where you can save money in your house. Often, people get overwhelmed by options, I love how a good infographic can help make everything so clear!
I hadn’t realized laptop chargers could have such an impact. Considering that my wife and I each have one now, I’ll need to unplug mine more often.
Alex recently posted..My favourite experiments so far
A good info-graphics. I like keeping budgets simple only then I can follow them. I make it a point to make allocations for all the major items, including contributions to my retirement saving accounts. Then I keep a buffer to help accommodate some fluctuations.
Rohit @ The Money Mail recently posted..Roth IRA
I think I could work towards keeping my booze spending to $450/year or live life to the fullest…..I’ll go with the latter of the two. Great info graphic though.
Eddie recently posted..Don’t Let Your Post-Holiday Gift Cards Collect Dust!
I like the graphic! The only thing I would argue is the bottle of water in the toilet. I have been told that you would be better off, in terms of savings, by buying a low-flow toilet. Many areas offer a rebate which make them darn near free. At least this was the case a couple years ago.
Kyle @ Rather-Be-Shopping.com recently posted..Frugal Hack #3: Use Live Chat To Score Deals
I’m confused: By the diagram, is my car in the basement slash garage?
Great graphic!
My Money Design recently posted..The Management Skills List – Do You Have What it Takes to Earn More This Year?
I don’t know why budgets are so bad. I guess people just feel limited or might find out how they’re actually doing with their money. I spent 10% less in 2012 from 2011 mainly from being conscious about my spending. Couldn’t have done that without a budget. Great infograhpic! It’s great to see the little changes we can make to be able to reap much bigger rewards. Most of these suggestions would take no more than 15 min to put in place.
Wow, $2600/year for entertainment is a lot! We just reduced our monthly eating out/entertainment fund to $60/month. I wonder if that figure included vacations?
Jason recently posted..Recipe: Green Chile Enchiladas
It’s amazing how little changes can add up in a positive way. Often times it’s hard to see the results of your hard work and sacrifice-this puts things into perspective!
Budget and the Beach recently posted..I’m on a Money Diet
Awesome infographic!
Brick By Brick Investing | Marvin recently posted..Slow is Smooth & Smooth is Fast
This is all sorts of awesome.
Ps. How is vegas?
Marissa @ Thirty Six Months recently posted..What would you with $1000? Yep, you read that right.
Thanks for sharing the infographic about budgeting and I really appreciate it.This will totally helps me,.
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This is a great infographic! Unfortunately a lot of it is limited to home owners, or people planning to rent in the same space for multiple years, but there’s definitely something on this list for everyone.
Jordann @ My Alternate Life recently posted..Lump Sum Payment or Structured Settlement? ($1000 Giveaway!)
I cut out soda, I brew my own coffee, I eat out 1 every two months, and everytime I replace a burnt bulb with a new cfl one. Thanks for.the post.
Rich Uncle EL recently posted..2012 Financial Milestones
Love the graphic – a picture really is worth 1000 words or maybe dollars in this case! There are definitely a few things on that image that I could do to help save…the landline is definitely one that I have been considering. And light bulbs I am changing as they die. A lot of little changes go a long way in saving. It’s like putting loose change in a jar, you don’t really notice a difference in your cash flow, but the amount you end of saving is crazy!
Leslie recently posted..Replacing My Funny Bone
I definitely wish my BF would cut down on his beverage spending – he’s not a big fan of water (especially tap water) so buys a lot of juice, milk drinks and fizzy drinks…
eemusings recently posted..Why your website should have a price list
Ohhh I saw this graphic on Pinterest recently! It’s such a good one. I don’t own a house yet, but this will be good to refer to in the future.
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Awesome infographic. The money-saving tips on there I could certainly use. I don’t have a problem buying clothes at thrift stores or making my own coffee at home to save a few bucks. But I could really save a lot more if I follow these tips.
Felix Lee recently posted..How to Get Started With Binary Options Trading
This is a very impressive infographic. Budgeting may be the magic word. This is a very good design which can create an impact among readers.
Your thought is useful and nice.
Thanks for your post.
Money making is hard, so saving every bit is nice.