Beginners Guide: Boost your Budget Like a Superstar!
Budgeting doesn’t need to be hard! If you need to Boost your Budget then this post will take you from clueless to superstar.
If you are living from Paycheck to Paycheck find out how you can stop doing this today and start saving money.
(If this post contains affiliate links please see our full disclosure policy although I have to warn you it is quite boring, if you really must read it you can find it Here)
Budgeting needn’t be a scary word!
Once you have a budget set it can actually help to free you from stress knowing what your income and expenses are every month and get your finances under control.
Ultimate bundles have a NEW bundle starting this week with a FREE eBook Get More From Your Money: 140+ Tips to Help You Save Money Faster launches Thursday March 14th and is free through the 18th!
Want to know what’s in the bundle:
13 eBooks, 9 printables & workbooks, 12 eCourses, and 11 videos – 45 products worth $1206.41 all for $37 for a limited period.
This Bundle also has a great FREE bonus which comes along with the bundle if you PURCHASE before 28th March. Grab the FREE cheat sheet here.
This is a game changer, because with these time-saving cheat sheets, you can review all the bundle’s material in less than half the time, and then dive deeper into the topics that are most interesting to you.
Wouldn’t it be great to have money left over at the end of the month!
I still haven’t managed it!
Of Course, like me you too want to improve your financial situation otherwise you wouldn’t be reading this POST!
- Saving for Retirement- yep this is me
- Pay off debt
- Emergency fund
Getting control of your Money can reduce your Stress especially if you know you are on the path to your goals and you can see it all working!
Master your Money Super Bundle has you covered its chocked full of information curated by people how have learned how to handle money ( not folks who have had large inheritances or winning the lottery I might add).
These are REAL LIFE money-saving strategies from people who know what it’s like to live in expensive areas or have large families or enjoy the little extra – even on a tight budget.
Here are THREE of my favourites:
Busy on a Budget
eCourse by Cara Harvey ($59.00)
A self-paced e-course that helps you learn to create a budget for your family that is simple to follow, learn how to pay off debt fast and help you gain control of your finances!
Debt Free Guide: Practical Tips and Lessons To Reach Debt Freedom
eBook by Allison Baggerly ($19.00)
Teaches you how to pay off debt fast and stay motivated even when you live paycheck to paycheck!
The Budgeting Binder
Printables by Kelan & Brittany Kline ($9.00)
This 20+ page printable and digital budget binder comes with everything you need to help you start a budget that actually works, tracks your spending, prepare for emergencies, pay off your debt, and release some of the financial stress in your life.
What is A Budget?
Basically, it’s a list of all your expenses that need to be paid and your income and because most people get paid monthly its best and easiest to make up a budget each month.
How should a Beginner Budget?
If you are wondering how to set up a budget for the first time it’s really not that hard.
There are tonnes and tonnes of options on how to do it and it really doesn’t have to be hard!
Personally, I use good old pen and paper! Writing it down really does bring it to mind and I think it’s much nicer than staring at a computer screen that you can turn off!
If your into Bullet journalling then there are lots of budgeting templates you can use here is a selection in this post
Make sure you gather all your financial information together that show your monthly expenses like bank statements, utilities, and grocery bills.
How to budget even if you are on a low income
If you find you are spending more than you earn especially if you are on a low income – look at your spending.
Are you spending on non-essentials? Can you cut these back? Are you buying things you want rather than essentials?
That dress you saw online last week or those that holiday you are desperate to go on? Do you need these things when your money is a mess?
If when you add all your expenses together and find when you minus it from your salary you are still overspent is there expenses there you can cut?
Mobile phone- can you shop around for a better deal
Utilities are you on the lowest tariffs?
Car expenses – do you really need to use it all the time can you walk to work or car share?
Groceries – don’t forget all the cashback apps you can use Ebates is one to get money back on your supermarket spend – yes its a pain!
In the UK we have a cashback app like Ebates called Topcashback whilst not for Groceries you can use it other places and for this past two months I have made the effort to go through this app to my usual online retailers like Amazon and already have made £10 ( $13 ) without doing anything but using the app!
Make sure you do this today – it is only small amounts but it can add up and help your monthly budget.
How to create your Budget
Use your preferred tool – Paper or Electronic
Each month list your income and then ALL your expenses.
Don’t forget you need to include your Debts too they need to come under expenses. You want to make these a priority to pay off.
Can you consolidate your debts to reduce repayments? Make sure you are on the lowest monthly repayment plan possible so your interest payments are small.
Especially if you don’t have much money to play with each month.
Yep, you should have one of these too!
Try out a meal planner again there are tonnes of options.
Don’t forget you can get Healthy Meal budgeting tips if you go for Ultimate bundles Money super bundle because they even have a how to eat healthy without spending your whole paycheck
How to Eat Healthy Whole Foods without Spending Your Whole Paycheck
Video presentation by Ginger Hudock ($19.00)
Watch this video and learn 10 tips to help you budget for your groceries and save money on healthy whole foods.
How to budget your money the 50/20/30 rule.
If you have heard about this but have no clue what this is all about then read on!
Ok, so this is a hard one! 50% of your monthly income should go on your NEEDS ie. things you MUST spend on like bills and health care anything over and above this are really your wants.
Next comes your WANTS no not that really nice holiday but things like car repairs, cable. Mobile.
Limit these as much as you can so they are only 30% of your income.
Finally your 20% on savings and Debt repayments. This includes all your debt repayments and savings plans including an emergency fund.
There you go a quick run through of the 50/30/20 rule.
Regularly review your Budget plan
Don’t forget to review your Budget plan every so often. Your salary can increase hopefully or even decrease.
So it’s not always static.
Lastly, Don’t forget if you need more help then Ultimate Bundles is on hand to provide you with help for Budgeting with their Money Super Bundle this also includes:
Better Budgeting resources
Defeat Debt resources
Increasing your income
And Bonuses as well as a FREE eBook so if you want to check it out follow the link below:
If you enjoyed all the tips on this post then please share.