Hey there lovelies! Today is going to be a more practical blog post, all about budgeting. I am going to go through some tips and tricks, as well as apps and websites that can help you budget. Being a minimalist is all about buying things you need not things you want. That being said you don’t have to be a minimalist to want to start a budget and save money. I guarantee once you start budgeting you are gonna be surprised at how much money you spend on useless things!
𝙵𝚒𝚛𝚜𝚝 𝚝𝚑𝚒𝚗𝚐𝚜 𝚏𝚒𝚛𝚜𝚝…
First thing to do when budgeting is to add up your total income, and how much you’re making per month. For example, I would be adding up my income from my job, I also sell clothing on an app, so I would add up that money as well as extra money I earn from babysitting or odd jobs. Calculate your total so you know how much money you start with at the beginning of each month!
Next thing is to minus out each of your bills for the month. The best piece of advice I can give any new budgeter is to pay your bills at the beginning of each month. This way you know how much your left with for the rest of the month. ALSO, this is the time to trim down how many subscription services you have. I talk more in depth about this in another blog post of mine. But the general gist is you don’t need both cable, Netflix, Hulu and a million other streaming services. If your a big tv watcher than narrow it down to two services, otherwise stick to only one! You won’t believe how much money you save. For us girls, lets narrow down our beauty, make-up and clothing subscription boxes to only one or two per month.
My main bills: Rent, car insurance, health insurance etc
Subscriptions: Netflix, BoxyCharm (beauty box), Vegan Box, and Amazon Prime
𝙿𝚞𝚝𝚝𝚒𝚗𝚐 𝚖𝚘𝚗𝚎𝚢 𝚊𝚜𝚒𝚍𝚎…
The next thing to do after you pay your monthly bills is to put money aside for everyday things. Put money aside for groceries, gas, pet food etc, things you will absolutely need. ALSO always overestimate how much money you put aside. This is in case you need to drive further for work one day and need more gas money. Or you decide to invite your family over for dinner, so you need to buy more groceries than normal. This is just the reality of adulting, your gonna need to put money aside for practical things first instead of those new shoes you want. ALSO start saving you receipts, for gas and groceries, this way you can estimate the average amount you spend on those things per month.
Let’s talk fun money, and money you get to spend on extra’s. Lets say after paying your bills and putting money aside for groceries and gas and such you have $200 left over. This is gonna be the money you can use to buy lunches, coffees, those shoes you want, or taking someone to dinner. One of the main parts of budgeting, is to stop impulse buying, otherwise that $200 dollars is gonna be gone in a no time. If you want to buy a new pair of shoes then budget it in, tell yourself your gonna spend $40 on them instead of $60.
Tip: Anytime you buy a new clothing item, sell something you no longer wear. This way you can spend the money you earn on selling your clothes, to get those shoes you want.
𝙰𝚙𝚙𝚜 & 𝚆𝚎𝚋𝚜𝚒𝚝𝚎𝚜…
Article on best websites to help with budgeting: https://www.themuse.com/advice/the-5-best-free-sites-for-managing-your-finances
Apps: Daily Budget Original
Mint: Personal Finance & Money
Goodbudget Budget Planner
Clarity Money- Budget Manager