Saturday, 19 January 2019

How To Start Budgeting & Save Money

How To Start Budgeting & Save Money

In this article I'm going to be giving you tips or hacks to help you stay on budget idea that you've never thought about and also I'll show you how I break down my budget, I am not an expert, this is a constant struggle for me personally each and every month but hopefully with some of these tips and some of the things that I do they can put you in a better financial situation or just in better situation priority to have a better handle on your money

The first thing I want you to understand especially if you're younger or you're in college

Read: How To Start Budgeting Plan When You Have no Money

Let Start With Budgeting

1. Live Within Your Mean

What this means is don't try to keep up with somebody or spend your money on a close if you don't have the money to spend, and this is hard because I kind of do those things sometimes when I was in college, sometimes I splurged on items that I really don't need because I want to try it or sing on youtube and I was like oh that'd be good for my channel but I have to constantly ask myself do I really need this

2. Never Compare Yourself To Somebody Else That You See

You don't know where they're getting their money from especially if you're in school most likely it's their parents money if they don't have their own job, so never feel jealous or insecure because you don't have things that others do have, you never know how they have it, you don't know what's in their saving account.

It's better to look broke and have money in your saving to look fabulous and be broke even though this is what the society does but it's just better to have as much money as possible

3. Pay Your Bills First

This keeps me out of trouble, "Pay Your Bills First" as soon as you get paid, as soon as you get an overpayment or a lump sum of money, pay all your bills first. The worst thing you can do is go shopping right away because you're going to spend money and you don't really know which wiggle room you have, the best thing to do is when you pay your bills first then you can play around with the money leftover with shopping.

One thing I do that has really worked for me, I kept my credit really well, i just knock out all my bills, as soon as you get paid you can decipher like what part of the month your bills come out and just knock that those out and I rather pay all my bills and live off a little than spend a lot and then crap my bills late and then having creditors calling me or my stuff goes into default. That's not what you want to do.

4. Have A Plan For Your Money

Before you get paid have a plan for your money and don't do what I did in high school and my plan for my check was getting the new shoes, lol, have a plan for your money, you know that you want to get that new shoe, have that already in your mind written out, so when you do your budget or when going to figure something out, you already know that you're going to spend this much on a certain item or product

Write out everything that you need and want and then that way you know that it's your biggest priority. But always have a plan for your money so that way, it's doesn't fly out of your hands like it does to most of us

5. Do Your Research

What I love to do is online shopping, I try to see what's out there compare prices, see where I can get the best deal when I don't have the money so when I do have the money I know exactly where to get it from and I'm not spending more than I have to

Let Move To The Second Step On: How To Save Money

I am not an expert believe me these tips worked for me when I use them and then when I didn't, I ended up broke, hopefully, these tips help you more than they help me if you follow them

1. Save First

This first thing even the richest man in Babylon will tell you to save ten percent of your money and depending on your religious background, but one thing that I've noticed is when I did save 10% which was totally fine I didn't end up saving much and I honestly feel like I rather save a little bit more

Try to save 10% of your check and even though it looks a lot, let say you got $3,000, $300 seems like a lot but honestly, if you have it automatically transferred to another account you won't even know

I promise you-you won't even notice it but when I did implement saving 10% every month my account was growing. 

2. Track Your Money

I have a budget book and what I used to do every month I fell off, to be honest with you I did this for two months and it really works and I'm going to pick it up again because it really helped me keep track of my expenses especially if you have your own business, keeping track of your personal and personal business finances are a must because you have to claim these things at the end of the year

When you track your spending at the end of the month you can see where your money goes

I hope those tips were helpful, leave a comment below, did I forget anything, I'm not the best writer sometimes.

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