How to budget

We’re lucky living in such comfort that travel is regularly possible. But this doesn’t mean that it’s easy to afford.

The most effective tool to manage our money is the daily log linked to our budget.

For years I’d been thinking, this can’t be that simple. There must be something magical, or the very least, complex approach, for those who are better at managing their money. I’d always spend everything I earned. I had no problem spending very little when I earned very little but I’d always have trouble knowing what I actually spent my money on.

It was this “unknown” factor that finally pushed me fora change. I hated the not knowing. I researched home budgeting, personal money management, the Japanese kakeibo, and used those tips to create a system that works for me.

I tested it both at home, and during travel, and the discipline it forces on me had a lot of benefits:

  • Saving money for later is one of the first things I do now. It’s high priority so it’s more important than eating out.
  • Managing cash is easier by setting limits for every week.
  • I can follow my credit card spending more closely which has always been a huge temptation.
  • Analysing my expense logs show where my weaknesses are. (Online shopping, in case you were wondering!)
  • Saying no is easier when I can remind myself of my prionties.

I’m still learning about managing money but it’s great to see the savings growing, the bills paid online, the overdraft unused. The benefits of adulting!

What are your best tips for budgeting?

Love,
Andrea


This post is part of the A to Z challenge of 2018. Check out the wonderful posters with #atozchallenge and #blogchattera2z. Thank you for stopping by.

I’m also on a writing adventure on my other blog, Pieces of Soul. Come by to be part of my interactive story!

Posted by

My soul breathes music and exhales words.

40 thoughts on “How to budget

  1. Budgeting is so important and I agree with the commenter above – budgeting should be taught in schools
    Debbie

    Like

  2. we always prefer the budget Andi. Even for the family, i do a monthly budget to know my savings and expenses. lovely and informative read. have a nice day:) B is for Beautiful. My atoz challenge post on the blog.

    Liked by 1 person

  3. Online shopping is a huge weakness, but of late, whenever I feel like buying something, I remind myself that I will have to first throw out a piece of clothing/shoes from the wardrobe. That’s a huge deterrent, believe me!

    Liked by 1 person

  4. I am a big online shopper and love to eat out as well. While I am conscious of not breaching my limits I do go overboard sometimes. Then I think, its just one life and when I am earning I do deserve to indulge in for myself, dont I?

    Like

  5. Will travel ever be affordable? I mean I love to travel but prices are always increasing. For us, there are 4 of us so budgeting is so important but I can’t say how it really happened. We know our travel date and a price range. From there we have a travel change jar (it really does add up). I also have an account that I transfer small amounts of money into every month for travel or any little surprise that pops up.

    Great post, thanks for sharing.

    Liked by 2 people

  6. My budgeting tip is making a list of everything that needs to be paid and making lists when I do shopping and knowing where to shop for what I have on those lists.
    Eye on the prize and saving money!
    This is the first month in a long time that I am finally caught up on bills and I actually overpaid my car payment last month! I don’t even know how that happened.
    Once Upon a Time

    Like

    1. Haha Morgan, the bank teller thought I was crazy for paying my credit card full twice in a month! (In fairness she was not wrong. It had absolutely no benefit!)

      Like

    1. So true, I am trying so hard to keep out of book and stationery stores and then these online ones keep popping up thanks to the personalised ads everywhere! So unfair!

      PS: I do like your book store series though:)

      Like

  7. Over the years, I have toned down my spending spree attitude. One of the things that I did was cancelled all my credit cards. Life is simple without them!
    Thanks for visiting my blog.

    Liked by 1 person

  8. Budgeting should be taught in school. I’m frugal and always try to spend as little as possible, except when it comes to secondhand book stores. And my solution for that is not to go anywhere near for long periods of time! 🙂

    Marquessa @simplymarquessa from The Next Chapter
    Visiting from the 2018 A to Z Challenge
    Start at the beginning with “A is for Afflicted”

    Liked by 2 people

  9. Always adding one or two basic items to store cupboard food items toward winter needs and paying bills in full by summer if poss to reserve winter income for heating expense. Regular payments spread across the year and that type of budgeting doesn’t work well for everyone. Good post though, some things to think about and bear in mind.Happy blogging!

    Like

Let's talk about this

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s