7 basic budget tips that you’ve probably forgotten

As we know, a budget is a basic financial plan. It calculates your income and expenses and allows you to plan how your money will be spent. Of course, it will be different for every individual – that’s because we’re all different as are our needs and wants.

If you have enough income to cover all your needs as well as your wants – your budget will be vastly different to most peoples. Unfortunately for most of us – our personal store of money is not a bottomless pit. There’s always a limit to what we can spend. Once we have that planned, then we can enjoy our life without worrying too much about our financial future.

A budget doesn’t mean that you can’t do the things you want or have the things that you like. Making your money stretch is not as daunting as it seems. Sometimes we can do with a little help – so here are 7 of my basic budget tips

  1. Don’t spend more than you earn – this is simply the most basic tip, yet most people tend to forget it!
  2. Less = more …The easiest and simplest way to save money is to use less – of everything. This could mean things like – put less food on your plate; put a little less washing powder into the wash; put less into your shopping basket; drive less and walk more.
  3. Choose one day a week as a “no buy day”, when you leave your money and credit/debit cards at home. This could make you tremble! But you only have to do it once, to discover how easy it is.
  4. Use debit cards or cash. Paying by cash will make you think twice about breaking a $50 note.
  5. Get an empty jar for loose coins. Every time you get home put any coins you may have in your pocket or purse into the jar. It won’t make you a millionaire but it all adds up over time.
  6. Keep your insurance policies up to date and relevant. Check them each year at renewal time, to make sure they’re still affordable and offering value for money.
  7. Shop around to see if perhaps you aren’t overpaying for your banking–there’s a lot of variations in fee structures from bank to bank.

I’m sure you can think of many ways to make your money go further – it’s not as difficult as you think and having a simple budget will put your finances back on top.

(c)

 Carmel McCartin – Budget Bitch

And don’t forget – (The views expressed in this blog are the personal opinions of the author. Don’t rely on them to make financial decisions; you have to make up your own mind. If you don’t like the content – then either stop reading or send me an email)

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