Budget Management

Kelly chisholm - planning the budgetThree awesome ways to manage your Budgeting

Budget management for many is a daunting subject to think about. Here are a few ways to make budgeting a little simpler.

  • Print out your bank accounts monthly statement, if it is not already mailed to you. Set aside time to review what you spend and where you are spending money. Use different colored highlighters and highlight by topic, such as food, shopping, primary bills or entertainment. Add each color up and you can visually see where your money goes each month. This will be an eye opener for many and will allow you to see where you can cut back on spending.
  • If you get paid via direct deposit, set up with your employer a certain percentage to go right into a savings account and the rest to go into your primary checking account. It could be as little or as much as you want, but this way if it is in a separate account and not as easily accessible it won't be as tempting to use.
  • Eat in more! Cooking at home can not only is a fun way to learn new things and experiment, but it can also be a great way to save extra cash! Make enough for a few meals during the week. If you have prepared food that is ready to eat, the desire to go out and dine will be less alluring. Also, you can make a fun evening out of it. Invite some friends over for a dinner party. Have them bring some ingredients and each make a dish to enjoy!

Hopefully with these ideas, you can gain a new outlook on budgeting!