Budgeting is something almost everyone hates doing, but people who know the importance of budgeting or have been saved by it knows how crucial it is.
Time teaches us that doing something spontaneous should be limited to limited things otherwise plan, plan until you achieve what you desire. I have known people who keep their finances spontaneous and regret afterward. But I have never come across anyone who has a proper budget plan; they followed it and ended up regretting.
For some people budgeting is easy, but for others, it is somewhat of a ghost that only haunts them. For the later ones, some professionals can manage to set a budget plan. But if you ask me always plan it yourself, this way you would not only keep your financial matters to yourself but you can also be fully aware of the situation you are in.
Being on a budget may seem to scare you which is normal but to spent more than you should and left out with nothing is worse than you think. I remember the days when I was a reckless spender. I did nothing in a way it was supposed to happen. I did everything in the opposite direction and ended up regretting. A friend of mine recommended me to budget my finance, and from that day on I cannot imagine my life without a plan. Being spontaneous is nice, but it does not last for long, but planning can take you to the high road I bet!
By following these following ways, you can stay healthy on a budget.
Make a List
While going for shopping, not all of us is listing down things that they want. This world has changed its dynamics. We often curse ourselves so much that how come we bought something we were not going to buy at all. But the product placement strategies in the superstores are done in a way that you end up buying what is unnecessary for you.
Whether out for groceries or other things; prepare a list and stick to it. This may prevent you and your family to hold your eyes to the things you were there to purchase.
Keep Your Family Informed
We all know the trouble you have gone through while preparing a budget and sticking to it (I personally find sticking to the budget harder than developing it) but then you check out your weekly expenses, and you are shocked to your very core. Why? I simple reason, you did not let your family be fully aware of what is it that you people as a family are up to.
When your family just know that they are on a budget, they may or may not listen to you, or they may go rebellious. But once the whole story is in front of them they may understand your point and can wait for the perks ahead.
Also, it is a good reason for you to act like a boss and call for a family meeting every now and then to irritate them for fun.
Use An App
Take maximum advantage of technology. Using an app can be more of a use than checking your weekly progress on paper. With an app you can see what you have done so far on a daily basis; you just need to keep it updated.
My favorite is Mint; it records your day to day data and evaluates it too. May it is your budget, bills or credit score, they have got you all covered.
Most of the times we overspend because we tend to deprive ourselves a lot of the things we want. For saving yourself for some reckless shopping or eating, allow yourself an allowance that would let you buy something to treat yourself. After all, why do we earn at all, know the balance between spending and saving and you are good to go.
Just make sure to use that allowance at the end of the month, that way you can be motivated to stay on the schedule all month long.
Keep Your Money at a Safe Distance
If you keep seeing cash lying on your kitchen counter or your dresser, you are going to use it eventually. That money is important too. Imagine, you put five bucks on your dresser daily and use it unnecessarily the next day just because it is right there. Now imagine that you kept that amount in a piggy bank and when you check that amount at the end of the month it is no less than $150. It may seem small but isn’t it better than 0 money. If you continue it with this pace, you may end up with a right amount for your next investment. Or if a friend of yours is in need you can lend that amount to them too because a friend in need is a friend indeed! Click here to see the link to the review for best peer to peer lending site.
Cook at Home
I know eating out is fun and a takeaway or delivered food can do wonders for your heart (temporarily) but ask yourself if that be the same effect on your health? Certainly not! Eating out can expose you to many problems like diabetics, cardiovascular, obesity and more. And what can it do to your budget is just cruel. You can directly save up to 50 percent of your amount if you start preparing your meals at home and the indirect cost of extra gyming or hospital bills can be saved too.
Even plan your meals for the coming weeks. It will help you attain two things. One, if you are planning your meals ahead, you can schedule healthier food and keep it all in balance for a balanced diet. Second, you can also keep the cost in your notice. If you are not on a budget and decides what to eat and what not on a daily basis, chances are you will only order or prepare food that you are craving at that moment. And I do not think that we people crave for health food.
Be an Updater
We often pay less interest in maintaining what is in our lives and end up having something new. We totally neglect the fact that doing so costs us more than we think. We diminish the previous commodity and go for a new one.
Updating the scratched paint or repairing a tablecloth would be a project for you and your family; you can always be creative will things like this. It will give you some family bonding time that you would cherish forever.
Quit Bad Habits
Bad habits may cost us more than we think. People who smoke or drink a lot are exposed to diseases. But they may also end up with no money in hand as these things cost so much fortune. And people who are habitual gamblers may end up bankrupt if not in jail.
Try to quit your bad habits at least until you know you can afford it quite easily with no regrets.
Benefit Yourself with Discounts
Discounts are everything I look out for when I am out for shopping. Your shop is offering a discount, and I have not checked in, is not possible. I am someone who prepares a list of things I would possibly want in the next two to three months, and once I see a sale regarding that thing, I pop in to look for it.
Sales are the common tactic for these merchants to increase their profit but all we want is the discount we get no matter how or no matter what. I think all the shopaholics can relate to me here.
Establish an Emergency Fund Account
People are different, and they act differently. Some people are so good at saving that they actually save everything and spend nothing on themselves. Some people are so bad at savings that they spend everything and do not secure their future. And there come people with a balance who knows when to pay and knows when to save.
I have been clear about how to spend properly so far, but how to be someone who can save too? It is effortless to tell to calculate your net income, determine your necessary expenses and then the amount you spend on luxuries, cut them off a little and you have some money to spare.
Saving money is very important because you do not know what I up next with you. Just make sure craving a pizza in the middle of the night does not count as an emergency for you.