Most people don’t want to have to deal with a budget. However, there are many good reasons to set up a budget for your finances. In this article, we offer a number of budget ideas. These ideas are for people who don’t really like to have to deal with a budget.
Are you one of those people who would rather use a credit card or pay late fees to buy gas? Do you not worry about paying the extra dollar amount? If so, we have some good news.
You really can have and even stick to a budget and the good news, it doesn’t have to be at all painful.
Keep Your Budget Simple
If you consider yourself someone who would rather avoid budgeting, there are some simple ways to set one up.
The first thing you might want to consider is changing your understanding of money. You also might want to appreciate that when you have a budget it may make all the difference in avoiding debt.
When you change your perception from being uninterested to finding budget ideas that are simple, you just might embrace having a budget.
Simple solutions are generally the best way to ensure that you keep to the budget. And you just might reap some very positive rewards and more money in your pocket!
Get Others to Do the Task of Budgeting for You
There are a number of ways that your bills could get paid. In fact, there is no reason why you have to look after paying your bills yourself.
If you bank online you can set up an automatic bill paying in your account. Then every month the recurring charges will be removed from your account. How simple is that?
There may be a slight charge for this service, but if you are over fifty-five, a lot of banks wave these types of charges.
If you are employed, you might want to ask your employer to direct deposit your paycheck if they don’t already do that.
This way you won’t have to go to the bank to cash your check.
If you need cash, you can always use an ATM or your debit card when you purchase items at a store.
Take Time To Figure Your Budget
With a little bit of mathematics, you can take your income, subtract the amount of each of your bills and you end up with how much you can spend each month.
One thing you might want to consider is to only use cash for food, gas, entertainment, or other items you need to buy.
When you take out cash to spend on these items, you can avoid fees or surcharges that you would incur if you used a credit or debit card.
Another benefit of having spendable cash is that you will be able to avoid late fees, charges for insufficient funds if a check can’t clear your account.
This is the no-fuss, no worry way of looking after your money.
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Using automatic bill paying, direct deposit, and paying cash for weekly or monthly expenditures is a great way to track your money.
By using cash you will actually be more aware of the amount of money you have to spend and more importantly, you will be better aware of what things cost.
With these budget ideas, you will hopefully be able to get off the budget fence.
How to Use Short-term Savings
Do you know why you should set up some short-term savings? First of all, it is a great way to start saving your money.
The good news is that you don’t have to be a financial planner to start setting up a short-term saving strategy.
The idea behind this type of savings is to put money aside regularly for a planned goal or even for those unexpected surprises that can occur.
You could even call short-term savings a rainy day fund! You never know when your car could need some unexpected repairs, or your hot water tank stops working.
This type of savings is also a great way to plan for a vacation or even for getting new furniture for your home.
What Are Some Uses for Short-Term Savings?
Here is a list of a few ideas for short-term savings:
- Set funds aside for an emergency
- Funds for a vacations
- Home decor (new furniture, remodeling, or painting)
- Planned expenses such as new car
It is a very good idea to have money set aside for any unexpected expenses. It means you won’t have to deal with a lot of stress should an emergency arise.
Also, if you never seem to have money for a vacation or get that new furniture you have always wanted, having to set aside money each month means you will have the money to spend.
Best Way to Start Short-Term Savings
This does not have to be complicated at all. Just take a look at your income minus your monthly expenses and see what you can set aside each month.
You could start out small. Even a couple of hundred dollars each paycheck is a good beginning.
If you are going to start doing this, it is a good idea to put it into an account that isn’t easy to access. Also, you should probably make it an automatic withdrawal into this account.
That way you won’t “forget” to transfer the money each month.
You might want to consider accounts like a Certificate of Deposit (CD) or other accounts that offer a little better interest rate.
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Once you set up a short-term savings account, you won’t be surprised by an unexpected expense because you will have the funds!
Having a stress-free savings account is just another one of the many budget ideas you can set up for yourself.
But more importantly, you will be glad you have it because now you can take that vacation or get some new furniture! This means you have the ability to create the best life as you will have the funds you need.
Some Creative Ways to Save Money
If you are looking for some creative ways on how to save money, look no further. First of all, it is a good idea to create a mindset regarding savings. This way you can have some money when you need it.
Pay Yourself First!
This may be an old saying, but is very true when it comes to budget ideas.
You simply put aside a small amount of money each time you get paid before you pay your expenses.
The amount you set aside does not have to put you in jeopardy of not being able to pay your expenses.
In fact, start out small, and then you can increase the amount. Once you feel more comfortable or you get a raise at your job you can save more.
Just Do It!
The best way to save money is to just do it! Just start putting some money aside each month.
There are also little things you can do to ensure you have more cash in your pocket. You could start using coupons when you purchase items.
Maybe you could walk to the shops or to your job and save on spending gas for your car or a bus ticket.
There is also the example of not buying expensive coffee but making your own cup at home and taking it to work in a travel mug.
Or you could make your lunch to take to work a couple of times a week instead of buying lunch.
Then just put the money you would otherwise spend into a jar or envelope. Then at the end of the month deposit it into your savings account.
Another way to say money that you don’t even realize you are spending is to not use a debit or credit card. Use cash instead and you will save on the fees your bank charges.
These little habits can add up pretty quickly. In fact, you might just be surprised how much money you save by the end of the month.
Can You Create Extra Income?
If you have the time, perhaps you could take on a part-time job or even ask for overtime in your current job. Then you can take the money you earn and put it into a savings account.
At the end of the year, you might be surprised by how much extra savings you have.
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There are many ways you can get creative when it comes to spending money. You just need a little discipline in order to use some of these budget ideas.
Remember, every little bit of cash you save will add up at the end of the year and you get to live your best life.
