When it comes to the money that we spend on a day to day basis, it’s no secret that some of us can spend a little more than we may have ever intended. A coffee here, a snack there, a bus ticket rather than a walk to top it off and you can find yourself eating into your budget, leaving yourself with no money for the important things. So how can we create a budget that we won’t break? How can we keep our spending lower and budget in check? A payday loan is available if you’re in need of aid during a financial emergency, but what can we do to fool proof our day to day spending and our budget better?
Before you even get started you need to make sure that you list everything that you have to budget for. That includes the bigger things like your mortgage payments and shopping costs, through to the smaller things like the small change you’ll spend on a drink every lunchtime, or your monthly entertainment costs, whether that’s Netflix, or meals out with friends. Whatever it is, you need to list it. If you don’t list it, you’ll likely forget to budget for it, and find that you don’t have an allowance there when you do come to remember what you spend money on each day of the month.
Stick To Cash
One way to ensure that you won’t spend anything more than what you intend to spend is to only have what you intend to spend. After all, if your ancestors could budget without a credit card, so can you. Use envelopes to separate out each lot of money depending on what it needs to be spent on during the month. Give yourself a budget for entertainment, groceries, eating out, and a coffee budget if you must. Once you’ve run out of money in the envelope, you can’t spend any more until your next pay cheque comes in – simple. After all, you can’t spend what you don’t have.
Whittle Down Your Expenses
We all have a mixture of flexible and essential expenses, and working out which is which and what exactly we can whittle down is important when it comes to saving a little bit of extra cash. Anything essential often can’t be whittled down, but in the way of groceries, for example, this can be the case. In fact, cutting down your shopping costs can be one of the easiest and most effective ways of saving a little bit of cash. Make a note next to every cost you could limit, and follow this!
Be Honest With Yourself And Others
Being honest about what you have and what you’ll spend your money on is important – but it’s equally as important to be completely open with those around you too. If you’re invited out for dinner and you just can’t afford it, then be honest. It’s likely that your friends or colleagues will understand, and then you can stick to your budget. Being honest also goes as far as admitting to yourself that you definitely won’t stop buying coffee on the way to work each morning, and so you need to add it into your budget. Admit that you’ll probably still buy biscuits while shopping every week, or that one month will be a little tighter than the rest so you’ll need to cut down a little. Honesty for yourself and those around you will do you wonders – and you never know what support could come from it.
Make A Budget, Be Creative, And Make It Easy To Access!
Making a budget is arguably the most important part of having a budget. Whether it’s a notebook filled with all of your expenses, or an excel document in a range of different colours, your budget needs to suit you and only you. If you want to decorate it, then decorate it. You’ll be staring at this document for days on end each month, so it’s worth the initial time taken to choose a design that you like and can work with. If you struggle with excel as a program, don’t use it – the struggle will put you off of adjusting your budget accordingly.
Whatever the need or design of your budget, we hope these fool-proof budgeting tips have helped you with saving money. Whether budgeting for the holidays or just in need of a little extra cash, building a budget can do you and your bank account wonders.
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