Budgeting Tips

We all have to budget from time to time, but it’s not the easiest task. Budgeting takes a lot of self-restraint and willpower. To help make your life a little more simple, we compiled a list of budgeting tips that will help keep you on track. 

  1. Put aside money for unexpected expenses 

When budgeting, it can be easy to forget that there might be unforeseen expenses that can pop up during the month. Putting aside some money to cover for any unexpected expenses is important when budgeting. If you don’t have this safety net, you might end up having to use the money you saved while budgeting. 

  1. Use cash 

It can be easy to overspend when you’re on a budget, but when you’re using cash, you can’t overspend. Once you’re out of cash, then you’re done spending for the day! This strategy helps you avoid making unnecessary purchases while prioritizing what you want to buy that day. 

  1. Set goals 

This is an obvious budgeting tip, but it’s an essential part of budgeting. You need to remind yourself why you decided to budget in the first place in order to stay motivated. Once you have this motivation to budget, you can start creating small and actionable steps to reach your goal. 

  1. Prioritize goals and expenses

Prioritizing your goals and expenses above other spending habits is important when budgeting. Having a plan on how much you want to save that month should be reliant on how much you have in expenses. After that, you can portion out the leftover money for other purchases. 

  1. Revise your budget as needed

Revising your budget on a monthly basis is key to ensure that you are budgeting correctly. Expenses can change from month to month and you also might discover problems in your budgeting plan over time. Adjusting your budget to account for these changes is essential in keeping up with your plan.

Ways to Save Money for the Holidays

Though the holidays are still two months away, one problem that always sneaks up on us is getting the perfect present within our budget. If you don’t want to break the bank this holiday season, then now is the time to start saving money! In this blog post, we’ll be going over five ways that you can start saving money for the holidays. 

  1. Set a budget

Before you start saving, you’re going to need a budget to aim for. The holidays shouldn’t be a time full of stress, so when setting a budget, be aware of the amount of money you can spend without breaking the bank. Once you’re aware of your budgetary limits, then plan how much you want to spend on presents, decorations, food, and any other holiday purchases you plan on making. After you know this, add a little room onto your budget for any unexpected purchases. Now that you know your budget, you’ll know how much you need to save. Though budgeting is never fun, your future self will be thanking you!

  1. Download money saving apps

There are many apps that you can download on your phone, computer, or tablet that help cut costs and save money. Apps like Simple round up your purchases to help you reach your savings goal. Round-up apps can be really beneficial when you aren’t able to cut back on purchases. While apps like Honey help you find online deals. If you have a wish list, Honey will tell you when an item on your list has dropped in price. It also provides you with promo codes that you can apply to your online purchases. In the link below, you’ll find a list of innovative apps that help you save money. 

15 of the Best Money Saving Apps for 2020

  1. Shop smarter

One of the easiest ways to save money is through buying the right products at the right time. When grocery shopping, it’s easy to get off track and buy things that you don’t need. To prevent making unnecessary purchases, always make a list before leaving the house and stick to it. If you have a brand that you always buy, think about buying the generic version instead. Over time, this will save you a lot of money. Also keep an eye out for sales and coupons, but remember to not make unnecessary purchases, even if there is a coupon for it! 

10 Ways to Become a Smart Grocery Shopper

  1. Make food at home

It can be easy to fall into the routine of buying food from a restaurant when we don’t want to make food at home. Though overtime, this can become costly. When you eat out, you often end up spending more than you would have if you just ate at home. This is especially relevant if you’re constantly throwing away food you bought from the grocery store. Finding a cost effective way to eat out while also making food at home is a great way to save money. You don’t have to deprive yourself of eating out, just minimize it! If you eat take out two times a week, limit that down to once a week. With the food you have at home, don’t be afraid to change your meals up a bit! This will make eating at home a little more fun!

  1. Save a portion of your paycheck

This is probably the most self explanatory point on this list, but it’s important to consider how much you want to save from each paycheck! Through cutting back on unnecessary spending, you might be able to save more of your paycheck since you won’t be spending as much on a weekly basis. You might be saving for other purposes, but putting some money aside with the intention of using it for the holidays will help calm any nerves about overspending on presents. While you’re putting aside money for the holidays, also consider putting some aside for yourself. You’ll deserve a little treat for yourself once the holidays are over!