
Budgeting Tips for Budget-Haters

Budgeting can be a burden. The bigger burden, however, comes with piled-up bills that can’t be paid off easily. What makes it worse is that you might have to cough up a fortune and delay your retirement for another handful of years to prevent yourself from going into a severe financial crisis.
Budgeting isn’t sounding like much of a burden now, is it? Of course, comparing the two, budgeting is the obvious relief-providing choice. When you create a budget and stick to it, you’ll find yourself sorting pennies less often- thank us when that happens.

Pexels | Who wants to be left with the bare minimum at month’s end?
To get you started, here are a couple of must-dos when drafting your budget this month.
1. Start with the Essentials
By “essentials,” we mean things you absolutely cannot live without- your housing, food, utilities, transportation, child care, debt payments, or insurance. If you stick to the 50/30/20 budgeting tactic, this should round off the first part of that equation. That leaves you with 30% of your salary for your wants because what is life without a little fun after all? The last remainder i.e. the 20% goes into your savings.

Pexels | Budgeting tactics are highly efficient
2. Automation Helps a Ton
By putting tasks on autopilot, you instant cut off the effort it takes to achieve your goals. If nothing else, at least automate your savings so that your future self doesn’t curse you. You know what they: save first, spend later. A tip that you’ll find even more effective is creating a separate account for your savings. Through online banks, you should be able to set up multiple accounts with minimal or no fees.
3. Management is Key
Often people get so carried away with their “fun” that they overspend, thinking NOW or NEVER. That’s the most foolish thing you could possibly do to yourself. We know how quick and easy it is to blow through 30% of your salary when it’s all fun and games but, the moment that 30% runs out, stop. Don’t go digging into your savings or essentials pool, making half promises to do better the following month. We both know it’s not going to happen.

Pexels | Quiet days indoors can be great too
Bottom Line
Your budget won’t be perfect the first time off. Gradually, you’ll come to realize that there are many expenses you could easily do without, such as the cost of multiple streaming platforms, subscriptions to magazines that lie around your home unread, and daily trips to the bar. Once you get on the budgeting bandwagon, your life is bound to become better in terms of finances.
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