We often find it is time to reflect on the past, with the turning of the calendar at New Years. What would we do differently? What are some upcoming goals? Some people choose to be healthier, to pay off debts or to even, save some money. It is one thing to ‘talk the talk’, but to ‘walk the walk’ you MUST write it down!
Set Realistic Goals:
Making a plan that is too strict on paper isn’t going to help you in the long run. It is nice to be frugal, but you do have to enjoy living just a bit. Not setting realistic goals will only lead you to not sticking to the budget you’ve set.
The Small Stuff:
Do you pop into Starbucks for a Caramel Macchiato daily? Even three times a week? Do you eat lunch out every day? These costs may seem tiny, but a tiny bit over a week times four weeks really adds up! Bringing your own tea bags to work, making coffee at home and packing a lunch are sure fire ways to cut back on the expenses.
Go Old School:
Why is money so much harder to keep track of these days? Likely, the cashless society we now live in. Having chequing accounts with overdraft, access to credit and loans makes it hard for even adults to control themselves. Teaching children about money these days is extra hard — “Just take the plastic card out of your wallet Mommy and pay for the groceries!” If only things were that easy!
Since we may need to use cash only to teach our kids the value of a dollar, there is no reason why us adults cannot convert our spending dollars to the cash format. Take this opportunity to help your children understand money, and leave yourself no chance to overspend. For best organization, divvy cash up into jars with labels. When the money is done, it is done.
Buy In Bulk:
Anything that you use a lot of that can be bought in bulk (canned items, household supplies, boxed items, toiletries) without spoiling, always works out to be better in price than buying individually.
We all mean to save… we get some extra money from our pay cheque and yep, savings do not always happen. The best way to plan for saving and your future is to have automatic withdrawals. This way, saving becomes something that happens without much thought; however, you can always change it or cancel it for a period of time where you need more money.
Don’t look at budgeting as a way of limiting yourself,
look at it as an opportunity to save!
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