A number of apps and websites will help you create a budget and track your expenses. These online tools can certainly be useful, but they can also unnecessarily complicate the planning of your budget. This is important because a budget that is easy to achieve has a better chance of success.
Here are some simple, low-tech strategies that will allow you to track your expenses and keep your budget.
Budging with envelopes: a simple method that has been around for decades. Basically, the person uses a separate envelope by categories of expenses. She then withdraws the money needed for the monthly expenses and places the amount for each category in a different envelope. Not only will she know exactly how much is spent each month, but she will be able to physically see how much money she has left.
A big book
A “pocket size” register will allow you to focus on your finances without necessarily counting on your cash. Simply writing your shopping list requires you to review every expense you make. For example, you enter the amount for your monthly expenses on the first line of the register and subtract each purchase or fee. You know exactly how much money you have left for the month.
A book of success
In addition to a register, you will use a book with your successes. You will physically note the date and amount of your savings. You will find a source of motivation and it will also allow you to target areas where you want to reduce expenses. For example, you enter a category and amount that you want to save BEFORE you make your purchases. Then your goal may be to “save” $ 1 by buying toothpaste.
Perhaps your many occupations of the day do not allow you to write everything in a register. You also do not want to carry several envelopes of money with you every time you go out. Another low-tech option to keep your expenses up to date is simply to ask for receipts. You will use a staple, envelope, or zipper bag to collect all your purchase receipts. Then during the evening, when time permits, you enter the amounts in the register or you simply subtract them from your monthly “allowance” for each category.
Realize when Internet use is needed
People often abuse the Internet and different applications for financial advice and tools. Yet this option sometimes seems the best. Take the example of personal loans offered only online. They offer several distinct benefits in addition to being practical. The candidate must not undergo a complete credit check and may request an amount with no pre-established minimums and a maximum of between $ 500 and $ 1,000.