Living in the Peach State certainly has its perks, from beautiful weather to mouthwatering barbecues. But between high costs of living in cities like Atlanta and lower average yearly incomes, budgeting in Georgia is sometimes tricky. You want to enjoy all the state has to offer without going broke, right?
Well, you’ve come to the right place. We’ve put together some tried-and-true tips for budgeting so you can experience that good life without breaking the bank. We’ve even explored options to receive financial assistance in Georgia! Whether you’re looking to save on essentials like housing and transportation or wanting to reduce spending on enjoying local cuisine or outdoor activities Georgia is known for, these budget-friendly hacks could help you make the most of living in Georgia without maxing out your credit cards.
Creating a Budget That Works in Georgia
Living in Georgia comes with a relatively reasonable cost of living, but that doesn’t mean budgeting isn’t still important. Truth is, creating a realistic budget helps ensure your expenses don’t exceed your income, even in an affordable state like Georgia.
To make a budget that actually works for you in Georgia, start by tracking your spending for a couple months to know where your money is really going each month. Look for expenses that seem high or variable and check to find bills to reduce or eliminate entirely. Then, allocate your income to essentials like rent, groceries, and utilities. It’s also a good idea to start saving even when on a budget in case of unexpected expenses.
Expenses
A good rule of thumb is to keep your rent including utilities to about 30% of your take-home pay. Groceries for a single person should be $200 – $300 a month. If higher, find ways to trim at costs like buying in-season produce or pushing back on pre-made snacks and drinks.
Discretionary
Once the essentials are covered, budget a reasonable amount for gasoline since public transit isn’t that widely available in Georgia. Allocate money for any debt payments (like low-interest loans or credit card debt)
. Whatever is left could be split between short-term savings and discretionary spending on hobbies, dining out, and entertainment.
Best Ways to Reduce Housing Costs in Georgia
Typically, a significant expense most Georgians face is housing. Here’re some of the best ways to reduce costs and save money on your living situation in Georgia.
- Cheaper Rent: Look for cheaper rent. If your lease is up for renewal, check around at other comparable places to make sure you’re still getting a good deal. You may be able to find lower rent at a different complex or by downsizing to a smaller unit.
- Roomates: Consider getting a roommate. Sharing an apartment or house with a roommate is a great idea when trying to reduce your housing costs. You can often rent a two-bedroom place for not much more than a one-bedroom, and split all the bills. Just make sure you trust the person before signing a lease together!
- Long-Term: Look at longer-term rentals. In Georgia, signing an 18-24 month lease instead of a shorter-term 12 month lease can often save you 5-10% on rent. If you plan to stay in the same place for a while, the longer lease provides more stability for the landlord.
- Don’t Rent: Buy instead of renting. If you can afford the down payment, a mortgage payment in Georgia is often cheaper than rent, and you’ll be building equity in an asset. Look for a first-time homebuyer program that culd help with your down payment and closing costs.
- Location: Consider living outside the city. Housing costs are often significantly lower in Georgia’s surrounding suburbs and smaller towns. If you work in the city, see if you can find a place within a 30-45 minute commute to take advantage of the lower rent. The savings can really add up over time.
Strategies to Save on Transportation in Georgia
Living in Georgia on a budget? Transportation costs can take a big bite out of your wallet if you’re not careful. Here are some useful strategies to save money on getting around in the Peach State:
Public Transit
Georgia’s public transit systems offer an affordable way to get around, especially in larger cities like Atlanta, Augusta, Macon and Savannah. Fares for busses, trains and streetcars typically range from $1 to $5 a ride. If you use transit frequently, look into monthly or annual passes which can save you even more.
Carpool
Driving alone in your vehicle can cost up to $10,000 per year. Carpooling, ride-sharing or vanpooling can cut your transportation expenses significantly by splitting costs with others. Check with neighbors, coworkers or classmates to set up a regular carpool schedule. Many transit agencies and employers also offer carpool and vanpool programs to help match riders.
Compare Gas
Don’t just stop at the most convenient gas station—compare prices at different locations to save up to $500 per year on fuel costs. Use an app like GasBuddy, Google Maps or Waze to locate the lowest prices along your drive. Consider getting a gas rewards credit card which offers cash back when you fill up too.
Maintain Vehicle
Keep your vehicle well-maintained to maximize efficiency and avoid expensive repairs down the road. Follow the recommended service schedule in your owner’s manual and check tire pressure monthly.
Financial Assistance Programs in Georgia
If you’re having trouble making ends meet in Georgia, there are several assistance programs available to help. These can provide you temporary relief or long-term solutions to keep you financially stable.
Medicaid
If your income qualifies, Medicaid can help cover medical costs for you and your family. Medicaid in Georgia is available for kids, pregnant women, the disabled, elderly, and parents of dependent children. Income limits apply based on your family size.
Food Stamps (SNAP)
The Supplemental Nutrition Assistance Program (SNAP) provides monthly benefits for groceries. SNAP services help supplement your food budget so you can afford healthy, nutritious meals. Benefits are distributed through an EBT card that can be used at most grocery stores and supermarkets.
Cash Assistance (TANF)
Temporary Assistance for Needy Families (TANF) works to provide assistance for low-income families with children under 18 years old. The program helps pay for essentials like housing, transportation, and utilities. TANF benefits are limited to 48 months in your lifetime. Apply at your local DFCS office.
Low Income Home Energy Assistance (LIHEAP)
LIHEAP helps cover home heating and cooling costs for low-income families. The program provides grants and weatherization programs to make energy bills more affordable and homes more energy efficient. LIHEAP is available for renters and homeowners.
Tax Preparation
The IRS offers free tax help and preparation for those with lowish income. Volunteers are trained to help you claim tax credits like the Earned Income Tax Credit (EITC) to maximize your tax refund.
These are just a few of the resources available for those needing financial assistance in Georgia. For more help, contact organizations like The United Way, Salvation Army, or Goodwill. They may be able to connect you with additional programs for food, shelter, job training, and education.
Financial Troubles in Georgia? Apply For Some FREE Benefits!
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