Smart Budgeting Secrets
So you want to manage your money a little more efficiently? We all work hard for our money, unfortunately most of us don’t work as hard to save it! If you want to do a better job saving your money, you’re going to have to create a budget. Once finished, a good budget will show you where your money is going, as well as help you identify places to save so you can keep some of your money for future use.
The first thing you will want to do is find out where your money is currently going. You will want to look at bills that show up once a month ( power and water etc….) as well as bills that come up several times in a month like groceries, healthcare, medication, eating out etc. If you download the Debt Workbook you can get a form to do your own budget.
Do you get a paper delivered to your door? Do you have premium cable or tv channels? Do you get coffee every day? Something as small as $2- $5 for a coffee can add up to more than $3,600 /year!!
The whole point of doing a budget is to see where your money’s going and to see if there are any areas where you can save money.
One way to see exactly where your money is going is to keep a journal for a month and write down everything you spend your money on. You may be surprised at how much some of your habits are costing you.
If you don’t want to spend a whole month writing down what you spend your money on, you could try to cut a corner by pulling up your bank card or your credit card statement online and look at your spending habits over the past month. This is a great exercise to find an extra couple hundred dollars per month. I hope you take the time to do it!
Do a budget!! It’s a crucial building block to everything you do financially!
