It would be good if you are expecting to receive a raise this year. At least, your raise will offset the effects of the tax cut expiration. If not, the best way to engage the problem is to earn some extra money or spend less. Of these two options, to spend less is more practical. Here’s how to do it.
1. Cut on some discretionary expenses such as cable TV subscription. You may reduce on your cable TV package.
2. Food takes the largest portion of the family budget. Save on your lunch by bringing your own food to the office. Eat out less often. Cook your own food. It is more healthy and practical.
3. Take the public transport instead of using your own car to save on gas. You can pool a car with your officemates so you can share on the burden of paying for the gas.