How to do a budget!
Hi everyone I hope you are well wherever you are in the world..
SO! I have done a similar blog a few months ago! ABOUT how to shop on a budget! SO I thought that I would do another blog about HOW TO DO A BUDGET! I hope that is OK with all of you! So lets get going with it!
So when and if you are deciding to start a budget for whatever reason MAYBE its because you would like to be more frugal with your money or you just want to have less money worries! WHATEVER it is budgeting can help! BECAUSE budgeting is ALL about priorities! BECAUSE when people budget they think it is because they don’t have much money to be able to spend things on! But that is further from the truth. BECAUSE many people turn to budgeting to make their lives better not worse! It is not about being tight with money it is about priorities and what you want to save for!
STEP 1 to budgeting:
Decide what your budget is going to be, because you don’t want to make a unrealistic budget just that you can save more money within your savings, it is important that when you are thinking of a budget that you take into account of all the expenses that you are likely to have pay for every month! BECAUSE by doing that it will then mean that you wont loose hope or discouragement, because you will be sticking to your budget and not going over the budget that you have set each month!
STEP 2 to budgeting:
Find a way that best suits you regarding the way you are going to budget regarding the methods that you are going to use. BECAUSE to budget there are so many different resources these days! For example, are you going to take your budget out of the bank each month and have it in CASH. So then you will be less likely to spend as much or are you going to use a method called the ‘MONEY STUFFING ENVELOPES’ which is when you each month you have a set budget with all the things that you would like to do or things that you must PAY! AND then at the end of the month if you have any money left you then can put it into a MONEY SAVING ENVELOPE to then save even more money! OR are you going to use saving apps where you can track how much money you are spending each month?
STEP 3 to budgeting:
Think what you are budgeting for! BECAUSE if you have a goal within your mind then you will be more encouraged and motivated to keep on saving to then reach your end goal! BECAUSE if one month you are really struggling to keep to your budget! REWARD yourself because us humans sometimes need rewarding when we are trying to break a bad habit!
As a teenager I tend to spend quite a bit of my money time to time. But I am now getting to realize the benefits of budgeting and saving! AND I do realize that at my age of 18 you are probably thinking why are you not SPENDING IT ALL and doing what teenagers do! THAT IS because growing up I have never been that type of person to spend that much anyway so I don’t really see the point in spending my money when I have nothing to buy! But I do feel that learning to budget is a life skill that will be good for me when I am a fully fledged adult! BECAUSE one thing I do want within my life is never have to worry about money! SO BUDGETING CAN ONLY BE A GOOD THING!
Do you think me budgeting at my age is a good thing?
YOU WILL NEVER EARN ENOUGH MONEY!?