Weekly Budgeting – 2014 Saving Guide
If you’ve made a New Year’s resolution to save money and shop a little smarter this year, then well done. Good intentions aren’t enough on their own though – now you’ve got to put it into action.
Saving money might sound like a huge challenge. But, the best way to tackle it is to break your spending down into a weekly budget.
Here’s some easy pointers on how to set up a weekly budget. Hopefully, this should help you stay on top of your spending this year.
Be realistic with your numbers
Before you get stuck into a frenzy of cutting costs and looking for big savings, it’s important to know what you have to play with. That means a cold, hard look at all your incomings and your essential outgoings.
Bills, utilities, a weekly food spend all need to be in your “going out” budget. Look at how much you’re actually spending now. Before you cut out anything, decide what is “essential” to you. Is that morning coffee run to the fancy cappuccino joint next to work a must-have? Do you prioritize a drink out with your mates mid-week? Could you be cutting out that weekly trip to the movies? These are some of the tough questions you have to ask yourself.
Look out for everyday deals
There will always be special offers and promotions. These are designed to lure new customers to spend some of their hard earned cash. Don’t fall for the hype.
Do some research, especially when it comes to big purchases like choosing one of the latest contract phones or your internet provider. Shop around and look for the best deal. Read the small print to find out if you’re on a long term good offer. If not, you may get a nasty price hike coming your way.
Nourish yourself well
It’s tempting to go for the cheapest thing on the shelves in the name of saving money. However, you have to learn where it’s worth spending a little more to save in the long run. Skip the cheap as chips value ready meals and instead invest in some basic whole food ingredients. You’ll be surprised at how many meals a few cupboard essentials can yield. Plus you get to enjoy a far healthier lifestyle, resulting in a happier you.
Treat yourself – within reason
When you’re on a budget, life can sometimes seem a little grim. All those tantalizing things that are out of your reach can test your willpower and lead to a binge that could waste all your hard work in one shopping spree.
But if you really want to stay on top of your budget, you should factor in a little ‘fun money’. Whether you love a night out at the cinema, dinner at your favorite restaurant or splurging on a new pair of shoes, work it into your weekly budget so you can spend without feeling guilty.
Weekly budgeting can be tough. But, its necessary if you are serious on saving cash. I hope that our top tips to creating a sustainable weekly budget helps. In the long term, this will help you have the life that you want – with plenty of fun things thrown in along the way.