You probably get there every month. There are only a few days until you get your wages and you think about it – you will budget properly this week and you will be able to save some. But then, you wake up with money in your bank account. You reach to a café, get a few sandwiches and a coffee, as well as a few magazines. Then, you move on to that shirt you wanted for ages. One thing leads to another and you end up living with £100 for the last week before your next wages kick in.
Here are a few helpful tips to manage your budgeting solutions in a better way.
Buy less things
It sounds obvious, but you have to do it. Sometimes, you have to remind yourself the basic issues of your problem. Reuse things. Recycle if you can. In fact, you should ask yourself – do you really need a new shirt? You have seven other shirts in perfect condition, so why would you buy a new one? You probably do not need it anyway, so forget about it.
Your savings become your priorities
Most people save whatever is left at the end of the month. This is one of the most common mistakes beginners make. It makes sense – you will have nothing left in this manner. You might end up saving £50 if you are lucky – not the best case scenario.
Instead, if you truly want this to work, you need to move some money to your savings account as soon as your wages come in. This way, you will spend whatever is less, rather than vice versa. Of course, you need to budget it properly or you will end up moving money back to your spending account every few days.
Come up with an online saver
Make it easy to save money or you will never do it. Get an online savings account and transfer your money there. Whenever you get paid, throw a certain percentage in there. It should not take too long – maybe half a minute. Since you do it early (ideally, during the same day), you will not even notice it is missing. It is a mental thing – it simply becomes easier to ignore that money and let it rot in your savings account.
Think about it
No matter what you are after or what your vibe is like, pause for a second and think about it. The society is not built this way though – you see something you fancy and you can see yourself wearing or using it. However, wait a little. It will not go anywhere. Give yourself a few days and you will realize that it loses its appeal. Think about your goals in the long run for a few days. By the time you are done, you will realize that a new fancy dress is completely useless.
Plan your meals
This is a classic rule and you need to do it right. Go back to the basics – get some shopping lists. Plan your cooking sessions. Takeaway every night sounds easy – spend a fiver every night. It is not that much.. Over a month, it will go up to over £150. Throw in a few drinks here and there and you will double that amount up.
Learn to say no
If kids are your biggest challenge when budgeting, you seriously have to learn no. You can buy your kids all kinds of things to get them to shut up, but your finances will suffer. Learn to say no more often and they will reduce their demands overtime. You are in charge, not them.
In conclusion, these helpful tips can help your budgeting issues. They will not get the job done for you, but they will easily help you overcome basic problems when setting up a plan.