The ‘b’ word. Does the thought of budgeting instantly make you want to groan? It really doesn’t have to. You don’t need to overhaul your lifestyle to budget and save successfully!
Here are 5 easy tips to help you achieve your financial goals without depriving yourself.
- Firstly, add up your spending. Start by looking at what you spent just last week to make it easy.
- Have a look at your budget categories. Are there any figures that stand out as being high yet not all that rewarding? Cut down on the things you won’t miss.
- Work out what’s important to you. Once you’ve determined what’s important to you, you can incorporate this into your budget. If your goal is to travel more, then prioritise putting money aside for your next trip.
- Stick to the list. Ever wandered into a supermarket for milk only to come out with a bag full of treats? Having a shopping list can reduce your food expenses by between 20-25%1.
- Shop for the future. If you know an essential product you constantly repurchase is on sale, buy it in bulk. Plus, it’s always handy having something like instant coffee on hand!
You don’t have to cut back on what you love, in order to save. It’s possible to boost your savings while also enjoying life to the fullest today. It just means finding ways to tighten your belt a few notches, while still having plenty of room to breathe!
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While care has been taken to supply information in this article that is accurate, none of AMP Services (NZ) Limited or any of its related companies gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.
The information included in this article is of a general nature and is not a substitute for financial or other professional advice. To the extent that the information constitutes advice, it is class advice only. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. For personal financial advice, we recommend you contact your Adviser or if you don't have an Adviser, contact us on 0800 267 263 and we can put you in touch with one.