BUDGETS. Oh man that is a bad word to some folks. I don’t know why people think knowing exactly where every dollar goes is a bad thing. I mean honestly, I would like to know where my money goes and not be surprised when I overdraft in my checking account. But to each their own. If you’d like to stick to the budget you’ve set, I’ve got some tips, tricks, and hard lessons that’ll help you stay on track.
AUTO TRANSFER! You have to pay yourself first (after Tithes of course). If you pay yourself 10%, then have that on auto transfer to an online bank account that you don’t have direct access to. This will avoid these funds getting lost in the budget. Auto Transfer those IRA and Roth IRA contributions as well. Anything that is a set amount every paycheck should be on auto transfer; this allows your funds to stay in their designated categories and not be drafted into other areas like Entertainment or Eating Out.
CREATE A GAME or challenge for yourself. I removed my card from the Amazon website and have been too lazy to go get it anytime I wanted to buy something. Next thing I knew I hadn’t bought anything in three months! Now I am challenging myself to see how long I can keep that streak going. This has been fun honestly! I find myself on Amazon and realize I still haven’t bought anything and it gets me pumped to keep going! And quite frankly the stuff I would have purchased on Amazon would have just been more things to shuffle from one room to the other anyway.
ANY OVERTIME OR BONUSES, tax returns, etc., automatically goes to saving and/or debt! No questions asked, no excuses, and no exceptions. Those shoes, that cool gadget, and that brand new car aren’t worth it. If you have hit your savings goals and are out of debt, then use that extra windfall of income for investing in your financial freedom. That $1,000 – $3,000 can quickly create double digits while in the stock market if you invest it right.
SLEEP ON BIG PURCHASES for at least 1 week. Large purchases can sometimes be made in a hurry, you may think you are doing a bunch of research and thinking it over; when in reality you Googled 2 websites to compare and slept on it over the weekend. That was FAST. Taking the time to sleep on large purchases for a week really puts it into perspective if you NEED that item. Not only if you need it, but if it’s the best deal you can find and is truly in your budget. For Example: I know the fridge I really want in my dream house, it took me 3 months of hard-core research to make the decision, BUT if I bought it now it would serve me no purpose in the smaller place I am in now. So that big purchase may actually be for your forever home (maybe that’s why you haven’t dived in the pool and gotten it) not quite your apartment life at the moment. But hey that is OKAY! We are working toward that forever home slowly but surely 😉.
GROCERY SHOP ONLINE. This was my game changer in so many ways. It prevents last minute grabs while walking the aisles. It helps me stay on budget when I clip those digital coupons. We all have become victims to the end pieces or checkout lane buys you didn’t know you needed or wanted until you saw it. Those 2 for $5 cookies do not need to go into your cart as you make your way to the meat section. If your grocery store offers, which most do now a days, utilize their Pick Up option. Using their Pick Up option stops those last minute cookies from hitting your cart and making their way home with you. Or if you are tempted to run into the store real fast, instead spend the extra $5 -$10 bucks of your grocery budget on Grocery Delivery! Hey, you have to know yourself. If you know you can’t help but go inside to see what all they’ve got and touch everything your brain thinks is yummy, then sometimes you just need the groceries to come to you.
CALCULATE THE TIME you have to work to make up the money you would have spent. This makes it more tangible for some people. If you must work 6 hours to pay yourself back for that single purchase, is it worth it? Now this is a great concept when it comes to eating out or buying a new pair of Jordans as that stuff can get pricey quick! Do you really want to work an extra 15 hours to make that car payment? Think about it, yes, that may seem drastic, but it is true in so many people’s lives.
THINK WEEKLY when it comes to money. This breaks down your budget to a weekly number forcing you to get creative with the smaller dollar amount. Instead of a $300 per month grocery budget, break it down and realize that’s only 75 bucks a week. That helps to make smaller commitments, and you are more likely to stick to it.
BUDGET YOUR SOCIAL CALANDER. Real talk, your best friend’s last-minute birthday dinner is not an emergency. If they were a good friend, they’d give you plenty of notice so you can check your numbers and say yes or no. And if you have to say no, they should understand. You and your budget come first, lack of planning on their part DOES NOT create an emergency on your part. And if you DO say yes, check the menu online before you go so you know exactly what to order. I always say if the price isn’t on the menu, then I can’t afford to eat there right now. Especially when I am in saving mode.
Those may have been some real-life truths, but we are all in this together to get to financial freedom! In order to do so, we’ve got to reevaluate our budgets, stick to them, and thrive. Do you have any other way to stick to your budget? If so comment down below, because we love to share resources and ideas over here.
Happy Budgeting!
-Adele-
IG: @lifewithadele
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