Implement a "Game" Mentality

Now that you have a goal to strive for, a list of variable bills to lower, and an understanding as to why it's important to compare cost, risks, and benefits before making a purchase, you're now ready to CHALLENGE yourself to succeed.
Are you wondering how you are supposed to CHALLENGE yourself?
Take for example a track runner/sprinter who is able to run the 100m sprint in 10.6 seconds. What do you think this runner will do next? He/She will CHALLENGE themselves to beat that 10.6 time the next sprint.
Point is, this runner is constantly pushing him or herself to do better. The CHALLENGE is to strive for a faster time each and every time they run the 100m sprint.
Same thing applies to your money saving efforts. You will want to CHALLENGE yourself to beat the amount you can save each and every month.
When you CHALLENGE yourself to save as much as possible, you inspire yourself to succeed. Since you are faced with this "CHALLENGE" you'll start thinking "Hey, if I was able to save $75 this month, there's no reason why I couldn't save $85 next month."
For example, if you were able to save $84 in October, your goal for November is to beat that amount. In other words, save more than $84 in the month of November.

Name Your Game

Once you are ready to challenge yourself, try and think of this whole process as one big, giant GAME. You can name this GAME whatever you want, but try and incorporate your GOAL into the name of this budgeting GAME.
For example - "Hawaii, Here We Come""Chevy Silverado Savings""Our Family Trip To Vegas"
As with any game, the object is to have fun and win.
Thinking of these money saving exercises as a game will both inspire you and help you take your mind off the whole saving process. More importantly, this game can help you get your whole family involved without having to beg and plead with them to help. Remember, children L - O - V - E games!
Make a colorful chart or illustrated graph on which you can track your savings total. You can then post it in a location where your family can look and see their progress whenever they want.
GET CREATIVE and HAVE FUN with your money saving goals. The more pleasant and enjoyable you make this project for you and your family, the more likely you'll be to follow through with your plan and ACTUALLY be successful.

Conclusion

Implementing a "game" mentality will not only help alleviate any stress or fear you may have regarding this whole process, but it will make saving money much more enjoyable to do. Who doesn't like to play games?
Not only will a game make your agenda much more appealing, but it will kickstart your competitive spirit and CHALLENGE you to do your best.

Weighing the Cost, Risks, and Benefits

In addition to lowering your monthly bills and expenditures, you need to look at your shopping/spending habits and determine if any changes need to be made.
This is extremely important for a number of reasons. Basically, how helpful would it be if you took time to research and implement effective money saving tips, then went out and needlessly spent $200 on stuff you really didn't need? You would have done all that hard work for nothing.
This is why it is important to not only lower your monthly expenses, but to also adopt the mind set that before a single dollar is spent on anything, weigh the cost, risk and benefits they will have on your budgeting efforts.

Cost - Risks - Benefits

What does that mean - cost, risks and benefits?
Basically, this is a shopping mentality most frugal and conscientious individuals maintain WHENEVER they are faced with the choice to buy, or not to buy (the question every shopper should address before spending their hard earned money).
Think of this as a ritual you follow prior to purchasing ANYTHING. From the smallest trinket, to the most expensive gadget, get into the habit of comparing the COST - RISK - BENEFIT, before you spend a single dollar.
Regardless of how much it costs, get used to comparing these three important factors. For smaller, inexpensive purchases, you can simply weigh the pros and cons in your head. For larger, more expensive purchases, you should write down the benefits and consequences and discuss it with significant others in your family.

Cost

First of all, the COST of the item/product you are thinking about purchasing. Is it reasonable? Will buying this product put a major dent into your spending allowance? Can you afford to purchase this product without having to change any spending/living habits?
Get used to questioning the cost of every purchase. Ask yourself questions such as - would it be better to wait for a sale or markdown? What about buying the item/product used or borrowing from friends?

Risk(s)

What is the RISK to you and your family if you do decide to purchase a particular product? In other words, how will it affect your lives?
For example, if you were to purchase a new $30,000 car, what effect would that have on you, your significant-other, your children, etc? Will you have to work more hours in order to get by? Will you have to cut back in other spending areas to afford this new payment? Will this added expense keep you from paying your other monthly bills with ease?
There are always RISKS to consider whenever you purchase something, especially when you purchase something with an expensive price tag. Many times we overlook these RISKS and simply buy without thinking about all the possible consequences. Keep this in mind and you'll avoid putting yourself and your family at RISK!

Benefit(s)

In addition to the risks associated with any new purchase, there are also some benefits to consider. At least there should be some benefits or you shouldn't even be thinking about buying it. In short, how will this product benefit you and your family? Do the benefits outweigh the risks?
To put this into perspective, imagine a large scale. The Item/Cost is in the middle of the scale, and on each side are balances. One side has the RISKS, the other side has the BENEFITS.
If you find that the BENEFITS outweigh the RISKS, then you know that the purchase is reasonable and will BENEFIT you and your family. On the other hand, if the RISKS outweigh the BENEFITS, then you may want to consider not buying that particular item. Why put you and your family at RISK if it's not going to benefit them?
Make it a habit to always compare the RISKS with the BENEFITS before buying. Not only will you find yourself becoming a more wise, careful shopper, you'll find this to be an excellent money-saving opportunity to help you in achieving your goal.

Eliminate Unnecessary Spending

You'll find that one of the easiest ways to come up with additional money is to first put an end to all the needless spending.
I'm sure you are all familiar with this concept. Every single one of us has been guilty of wasteful spending at one time or another in our lives.
For example, have you ever walked into a store just to "look around" and ended up spending $50+ on stuff you didn't plan on buying?
Or how about the five or ten dollars spent on junk food and impulse buys at the supermarket? It may not seem like much at the time, but that money adds up to a rather hefty bill over time.
These are examples of the types of spending habits you want to try and rid yourself of, especially since you are striving towards the GOAL you decided on a while back. Refining this approach, you can start directly eliminating unnecessary spending with most, if not all of your monthly variable expenses.

Where To Begin

Now that you have a list of all your monthly expenses and have singled out five of the most excessive bills, it is time to start eliminating unnecessary spending in these five areas.
When you start tackling your expenditures on an individual basis, adopt the mind set that EVERY dollar is important and valuable to your personal goal. Five or ten dollars may not seem like much to save off one bill per month, but if you multiply that by all your bills, over the course of a year you get a much more substantial figure.
You may soon find yourself saving an extra one or two hundred dollars a month just by eliminating excessive and unnecessary spending from your monthly expenses. And the best part is that you did not have to get another job. You did not have to work overtime or additional days at your current job. All you did was tackle each individual monthly expense with creative, yet effective, money-saving techniques.
Since you have already singled out the five bills that seem to be the most excessive, you have a specific starting point. Remember, there's no need to overwhelm yourself by trying to lower all your monthly bills at once. Not only will you burn yourself out, but you won't maximize your savings potential with each individual bill.

Finding Effective Money Saving Tips

In order to lower your bills to their lowest possible amounts, you will need to devote some time to research and find tips specifically designed for each particular bill.
For example, if you are trying to lower your household electric bill, you would want to search the Internet, contact your electric provider or visit their website (ie: sce.com), check out the local public library or maybe even a bookstore for any sources providing useful, relative tips.

• Once finished researching, you will have a list of all the tips you plan on implementing similar to this:


• Change to lower wattage/energy efficient light bulbs


• Install ceiling fans (reduce AC & circulate hot air)


• Lower temperature on water heater & refrigerator


• Insulate attic area and access panels


• Seal & caulk ALL air leaks


• ALWAYS turn off appliances when not in use (ie: TV)


• Install outdoor window shades to help cool the house


• etc...