Everyone talks about budgeting. And most importantly sticking to it. But most of us know that this is not always easy. Sometimes the unforeseen happens, and we are not prepared for it. And when we are already stretched to the max, it frequently seems that there is no way out. That is why having a budget, and sticking to it, can help redeem out sanity.
Firstly, keep track of your expenses. Write them down. We often don’t realise how the little things that we purchase, that we hadn’t planned for, add up, and the impact that it can have over the course of a month.
Be realistic about your expenses. Cut down on luxuries, as these can have a huge impact on our expenses. Small things, such as how much we spend on our cell phone airtime, can add up.
Don’t buy on impulse. Plan your spending. If you are buying groceries, have a list handy, and stick to it.
Check your bank statement for hidden expenses. Debit orders that go off, that you have forgotten about, and that they are for things that you no longer use, such as gym membership.
Reduce your fuel bill. where you can. Plan your outings. Avoid the shops and malls if you don’t require anything. It is very tempting to spend on things you don’t require when they are right in front of you.
In conclusion, take that bit of time each month, draw up your budget, and live within your means. That sense of satisfaction will be reward in itself.
Try to save, for the unforeseen. If you can cut on some luxuries and save these funds, they can definitely help when the kids suddenly have an unforeseen school expense, or there are docotrs’ bills that need to be paid.