Budgets – I’ve always known I need to make one & stick to it but find it so challenging! Being self-employed with a variable income month-to-month it is extra difficult to budget. But it also means that it is maybe more important to do so! Go figure!
Here are some quick & easy ways to introduce budgeting into your life – no matter what your income / earning status –
TRACK YOUR INCOME & EXPENSES
I know, right… so boring & tedious! But it really is useful, if like me you tend o overspend on things without realising just how little you actually have in the bank! Lots of little purchases also add up & we tend to forget about them. Seeing all the details clearly helps you be clear about exactly how much you have in your account at any one time. It also reduces the fear & anxiety you may get (like me!) when you log into your online banking & have NO idea what the balance is going to be! And let’s face it, the balance is always lower than we think! You can track your income & expenses manually in a notebook or use a money management app. I recommend doing it daily (I really need to take my own advice here & get into a daily habit of doing it!).
MEAL PLAN FOR THE WEEK
Having a set menu / meal plan for the week is so helpful in reducing food spending & also food wastage. You are only buying exactly what you need to make meals for the week. How many times do you go into the supermarket for 1 item, and come out with a trolley-full!
COLLECT SPARE CHANGE
I know, we hardly ever use cash these days…! But sometimes you will have the odd extra £1 or £2 (or maybe even £5!). Make yourself a money jar – I like to place mine in front of a mirror in my hallway (good money feng-shui apparently!) & I always have a ready supply of change for paying the window cleaner, bin cleaner or for small emergencies (when I can’t find my bank card!!).