Every year we have goals to be better people, stop doing this and that, but by the end of the year it doesn’t happen. There can be his never ending cycle to do good, make more money, find love, and loose 10 lbs. But somewhere down the line, sticking to the plan we set, gets knocked down by all the bumpy roads we didn’t account for. That brings me to my point. Budgeting and sticking to the plan. I know we as women don’t really like that dirty word, but it just may save your pockets. When I left home and eventually got married, there is one thing I learned from my husband and that was how to budget. Ladies I want to share my secrets with you for saving money and building a nest egg, whether it’s for your family or something you are trying to attain. I promise it is very simple to make these small changes.
Let’s Go Back.
When I married my Husband, we had nothing in terms of starting out. So we had to purchase and basically start from scratch with everything we needed. We modestly bought the necessitates to go in our two bedroom apartment. Then it hit us, we needed a budget, let’s be honest, we were young newlyweds. We needed a plan to make sure we could stay afloat. That is when my husband and I came up with a budget system. This budget is simple, easy and can be used for anyone, married single, or needing some focus. Just remember you need to be sticking to the plan of your budget for it to work. By the End of the year you should be experiencing less stress. Trust me, we got off plan and suffered greatly for it. Now we are back on the saddle and back to our budgeting ways. There are tons of budgets out there, but this one is just to get your organized so you know where to put your money. If you need more advanced but easy steps check out Amiyrah Martin form Four Hats and Frugal for more money saving tips
3 steps in Sticking to the Plan for your Budget
1. No matter how much you can save, always save something every pay Check. Some banks will give you interest on money that may be sitting in your account over a course of months. Check your bank’s guide lines
2. The Planning Stage: Depending on your tax bracket, save money you get back and divide it appropriately. In our family this is the get ahead stage also for us. This is the time to think about home Improvements, any sales and clearance from Christmas that may help with next years seasonal clothes. Think about adding an extra payment to a large bill. In this stage you want to think in terms of long run.
Bonus: since Christmas in terms of gifts are for our children (and all year), my husband and I disperse adult money to ourselves to do what we want.
Important!!!!!: Make Sure all money goes somewhere and is accounted for. Every year you should divide your money the way it is needed for you, but just make sure to save save save!
Husband/Wife: $ amount
Home Improvements: $amount
Kids Savings: $ amount
Regular Savings: $ amount
Emergency Money: $ amount
Family Vacation: $ amount
Investment: $ amount
3. Monthly Budget: Now that you have made some type of yearly budget, it’s time to tackle your monthly budget. Simply divide every single thing you know you spend money on into categories and give them set amounts. This will also show you if you have a tendency to go over your budget or if you have more money to put somewhere else. Sticking to the plan when budgeting does take work and patients, but it can be done. Here is an example:
Home: $ amount
Utilities: $ amount
Internet/cable: $ amount
Food: $ amount
Food For work: $ amount
Household items: $ amount
Savings: $ amount
Kids expenses: $ amount
Gas: $ amount
Transportation: $ amount
Any Debt: $ amount
Date Night: $ amount
Why Sticking to the Plan Works?
Write your budget according to how your spend your money starting with the things that are a need. Don’t forget to budget a savings, even if your budget only allows 5 dollars, save it and pretend it’s not there. When you see your budget all laid out, you can see where you waste money or where too much money is going.
Tip 1: Post your budget where you can see and Follow it,
Tip 2: If you are trying to build a savings or save for something, get comfortable with saying NO, to things and people who don’t align with your budget. JUST SAY NO! (One of the best tips to saving money).
Tip 3: Try to commit to one year of saving but don’t get stressed out. If you know you must have your nails done, budget for it, but be careful budgeting for nails and new shoes every week lol. Pick your battles wisely. I hope these simple tips helped. Until next time my Friends….