In today’s world, budgeting is more important than ever. Many people tend to overlook budgeting and it can seem complicated when you are getting started, but it doesn’t have to be this way. There are a couple of strategies that can be implemented in order to make this process a little easier. This beginner’s guide will be helpful for anyone looking to take control of their financial situation and learn the basics of budgeting and managing money.
Where does my money go?
That’s the question you should be asking yourself when starting to budget. Knowing where your money goes is arguably the most important thing about finances. It’s also a good idea to create a spreadsheet of your monthly expenses, either on Exel or on a piece of paper. that way you can have
an easy overview and know exactly what things are slowing down your financial development.
Cut out and renegotiate!
Now that you know where all of your money is going, the next step is to decide what things are necessities, what needs to be renegotiated and what needs to be completely eliminated from your budget. You’ve probably heard that one of the best ways to save money is to cut out the things that are not necessary, and it’s true!
Another awesome trick to save money and budget is to renegotiate your current expenses. Try to negotiate everything you can. And I mean absolutely everything! Renegotiate your phone bill. Renegotiate your electricity bill. Renegotiate, renegotiate and renegotiate!
If you are able to implement these strategies, you are gonna save so much that it’s not even fair!
Make more money!
Making more money is what should be your main focus. Budgeting and saving money is great, but there’s only so much you can save, meanwhile, you can always make more money. Try to get that promotion you’ve always wanted, find a good side hustle, start that online business. There are endless opportunities for you to make more money. Especially nowadays with the internet. And you can probably imagine what it’s gonna be like in the future.
This is the game of finances. You have to play by the rules of the game in order to win. We are all trying to become financially independent and we are in this together! One day all that hard work is going to pay off and it’s going to be a moment worth remembering for a very long time!