Is planning your budget an aspect that gives you a headache? Well, you are not the only one, many people struggling to deal with this. Still, you need to take care of this if you want to make sure that all your major expenses are covered, also to put some money in a fund for emergencies, and maybe even save some for things like a vacation or a new pair of shoes. The following tips are specially picked to serve you in budgeting so that you will tackle with this matter more efficiently and easy. Just keep on reading to find out what you need to do
What is the goal of your budget?
Do you know and understand the purpose of your budget? Why do you think people work so hard on making a budget? The most fundamental goal of a budget is to help us better understand how we spend money, so we can better control it and focus on the things that matter. This doesn’t mean to track down every single dime you spent because this won’t help you have a better budget. You need to be more aware of how and on what you spend money, what your priorities are, and how to spend more efficiently.
Track your spending spree for a short period
This will not have to become a goal for your budget, but doing so will become like a reality check concerning your expenses. It is enough to track everything you spend for one week, to see where the money is going, as it will give you plenty of info about your spending habits. Write down every little expense you do, because you will end up seeing even those small amount of money that usually pass unnoticed, but sum up and turn your budget upside down.
Things such as eating out, Buying sodas from the gas station. May not seem like a whole lot, But they add up really quickly. Online shopping also adds up because you can do the "One Click" orders, Save your credit card information on many websites, This makes it easier for you to spend money without realizing what is actually happening.
You should always save first
Why do people struggle so hard with budgeting? They do this because they want to spend less money and save more. But, the biggest mistake most people do, when it comes to saving, is to save whatever is left from their budget at the end of the month. Well, in such conditions, the savings will never be consistent enough. The best approach is to make the savings first, and then spend whatever is left. Thus, at the end of the month, your savings fund will be much better.
Put your savings away EVEN BEFORE PAYING THE BILLS!
Don't have enough for your bills?
Most people start to panic if they can't afford their bills, So they look for alternative ways to make money, This is the goal. You HAVE to make ends meet. So grab a metal detector and start looking for quarters, OR you can find another way to make that extra money.
Take advantage of budgeting tools
You hate it when you have to take a computer, paper and pen to start budgeting. Well, why not use technology on your behalf? If you are wondering what tool is best, you should know that such a thing was difficult to find, because what some find useful other may not like at all, so you need to try different tools until you find one that suits your needs. So do search for some, because you will find them either free or at a very low cost. They can come under the form of small software programs for your computer, or even as apps suitable to be used with a smartphone or tablet, so again, it is a matter of personal preference.
I know a lot of people who like the website and app: Mint,
Which keeps track of most things for you.
Also, there is Budget pulse
Here is a blog post with some good resources
Can you Save Money In Other Areas Of Your Life?
There are thousands of ways to save money, Maybe you are overspending on unnecessary stuff. Even reducing smaller spending can add up to a lot.
These tips aren't for everyone, Some of them may be kind of nasty, But They are worth a try to help you save money.
Did you know that having something plugged in, Actually takes power away still? It will run up your electricity bill, Unplug it!
Keep the drain shut while you shower, Reuse that water to water your plants, wash clothing or use it for other stuff.
Hate cooking? If you have a problem eating out, Then make a weeks worth of food in one day, That way you get "Fast food" right from the fridge.
If you buy a lot of brand name foods, Use the app Ibotta to help you save money on your groceries.
If you are soda or a juice drinker, Buy generic, Also add a bit of water to it, You won't notice it being watered down slightly. (yes this works with soda in moderation)
Whenever you shop, you risk impulse buys, Try to limit your grocery shopping as little as possible. If you can lower it to once a month, that is ideal.
I will probably add more tips in other articles. I wrote a book with over 300 tips. So I'll post them on Steemit for you to see!