They say money can’t buy happiness, but sometimes it does! Money can buy amazing food, trendy clothing items, and must-have makeup products! However, as a responsible adult and well-disciplined individual, it is very important and crucial to spend your money wisely. On the bright side, living with a budget doesn’t mean you still can’t enjoy the good things that money can buy! You just need to be smart with your purchases, and you can learn how to do that by continuing to read.
1. Create a Budget
What’s a budget without a budget?! You can’t organize your money without calculating and keeping track of the things you spend it on. If you have a visual representation of what you actually spend, you can lower the amount you use on unnecessary items, and save up for more important things like bills, groceries, and any other necessities. Seriously, don’t try to calculate everything in your head!
2. Meal Plan
Yes, it’s extremely easy and convenient to order takeout and enjoy your meal as quickly as possible. This way, you can save time cooking and get right to your favorite shows on Netflix! But would you rather save time for something as simple as shows, or on something bigger and better like money? Spending money on food at restaurants can lose you a lot of money! If you just take a little bit of time out of your week to grocery shop and make your own food, you can have several meals throughout the week already prepared, and doing so will save you so much cha-ching. A week’s worth of food can be equivalent to one takeout order. Let that sink in for a minute.
3. Don’t Be Impulsive
It’s okay to go to the mall once in a while to look for some new clothing items and accessories for your wardrobe, but when this becomes a habit, you won’t be the only one crying. Your wallet will be crying with you! Try to only make trips to the store or mall when you really need something. When you’re in line to purchase your necessities, don’t let your eyes drift to other items that you know you don’t need! Think about the long run, and save up for greater things.
4. Piggy Bank
Lucky for you, piggy banks are NOT just for children. Incorporating a piggy bank into your life might not sound like a huge investment, but this can save you a lot of money and space in your wallet! Even if individual coins don’t amount to much at first, little by little, they add up to bucks and bills. In many cases, using coins with your purchases can save you from using more of your bills. Money is money in the end, and something is better than nothing!
5. Organize Your Bank Accounts
It can be hard to track all of your expenses if you’re using your money on a variety of things. Split your expenses into categories: for bills, for savings, and for spending. This way, you can add or subtract from specific groups of your money, and save the headaches and confusion!
6. Use Cash Before Card
Don’t empty your direct deposits so easily. Utilizing the cash you have on hand first can also save your bank account from decreasing in size! Why not use physical cash when you have it with you? Only withdraw or use money from your card when you have no cash available with you whatsoever. Using cash is also easier to budget for discretionary spending! Another little secret is that you might feel a little less guilty when you don’t see your cash purchase on your account.