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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The content provided is intended to be used as information only and does not constitute financial advice. Before acting on any of the results provided, we recommend that you seek advice which takes your individual circumstances into account.