budget or bust
Keeping to a budget is one of life’s necessary evils. It’s a difficult task for most people—whether you’re new to managing your own finances or have been in charge of your money for years. While not always fun, it is an important responsibility that can help protect you against emergencies down the line.
Set up a weekly allowance.
Whether you get a paycheck every week, every other week, or twice a month, one of the best things you can do to start building your savings is to reserve a set amount each week for extra expenses. Once that reservoir is gone, promise not to dip into any other savings until the following week.
Home cooking is key.
There’s nothing wrong with eating out every once in a while, but dining at restaurants and even stopping at the drive-through can really add up. Try to plan out meals and shop wisely so as to have enough groceries to cover you through the week and beyond.
Saving is essential.
When you consider a savings deposit as another one of your monthly bills that must be paid, you would be surprised how much more valuable it will become to your budget. Treat this deposit as a necessity, not something you may or may not have to do, and your future self will be grateful.
Save those receipts.
Instead of throwing away all of your receipts, keep them in a folder or box to look at at the end of each month. This is a great way to see how much spending was essential, how much was wasteful, and what you can work on for next month.
Cash over cards.
If you’re stepping out for some shopping, consider leaving the cards at home. By carrying only cash, you are ensuring that once the cash is gone, the shopping trip is over. This isn’t a guarantee to put an end to wasteful spending, but it can help curb some of the unnecessary purchases you may have been more inclined to put on your card.