Try not to overthink budgeting to the point of stressing yourself out. Trying to budget and save money can be challenging for us all, especially if you do not have the right tools to get started. There are multiple ways to budget your money that literally cost you nothing.
- Use your very own online banking app: Banking online is a tool that can be used at no cost and most of us are already using this form of banking. Check out the budgeting dashboard that allows tracking of your cash flow and spending and setting your spending target.
- Create an Excel Spreadsheet: I know, I know most people cringe at the thought of using Excel. I definitely do from time to time; however, it is a great way to keep track of all of your spending on a monthly basis. This will allow for you to see how much you are spending, when you are spending, and what you are spending those hard earned dollars on.
- Use the envelope method: The envelope method is great for those of us that have to physically see where our money is going. When you get a paycheck, take a portion of your monies and put it in an envelope, then write what that money is for on the envelope. This can be done with multiple bills or you can even do it with your spending target. If you use this option with your spending target the goal is to not run out of money before your next pay period. If you run out then you will need to go back and revisit where you are spending the most.
- Notebook Method: Most of us keep some kind of journal or notebook to jot things down we consider important. Why not use this to make your spending important and track what you are paying out monthly and daily? Be sure to list all of your monthly household bills and the due dates at the beginning of your book. Next create a page for your weekly budget break down. From there you can create a budget based on when your pay dates and the due dates of your bills.
Trying to budget and saving money can work for anyone; the key is starting with a realistic amount that works for you. Always remember budgeting and saving something is better than not trying, even if you are only outing away a couple of dollars at a time.