deepstash
Beta
Piper E.
@pipge474
Plan For Some Fun
A budget isn't about restrictions or a speed breaker to your freedom, but a way to plan for your freedom and fun, responsibly.
When you have every aspect of your financial life and goals planned out, you do not feel guilty having a little fun, and the fun budget is your permission to spend.
56 SAVES
45 READS
IDEA EXTRACTED FROM:
TOPICS IN THIS IDEA
RELATED ARTICLES & IDEAS
Summer S.
@summers338
Your Complete Guide to Creating a Monthly Budget in 2020
A Monthly Budget For Your Money
No matter how little or how much money you earn, creating a monthly budget is one of the most important aspects of managing your finances. What gets measured gets managed.
...
The Envelope System
The Envelope system is a way to track your variable expenses like food, entertainment, and drinks.
This method, preferably used weekly, allocates a certain amount in each category in labeled envelopes (food, drinks, movies, etc.). Once the envelope is empty, you are done spending in that category.
How to Create a Good Budget
The principles that make a good budget, something you can stick to:
- Being Realistic: Being too strict is a recipe for failure.
- Making Adjustments: A budget is not set in stone, but a fluid thing.
- A Team Sport: If you live with a partner or spouse, you have to agree mutually on how to budget the financials.
- Expect the Unexpected: Keep an emergency fund, ideally 3-6 months of necessary expenses.
- Budgeting the Expected: Certain upcoming expenses need to be budgeted in advance, like property tax, holiday shopping, etc.
Elizabeth V.
@elizabethvv67
The Reverse Budget: Why Normal Budgeting Sucks And What To Do Instead - The Money Habit
Typical Budgeting is Flawed
Typical regular budgeting methods assume that just by allotting limited money to a particular expense type (like groceries) is enough for us to spend less and balance our budget instantly.
Th...
The Reverse Budget
A Reverse Budget looks at your current lifestyle and makes slow improvements over time until things are sufficiently better.
We look at how much we are spending eating out, commuting and daily indulgences and see the past quarter trends using your credit card and bank account spending.
The Two Approaches using Trends
When you look at our past spending patterns and trends, you can select one or two categories to focus and use one of these two approaches:
- Tackle the high-dollar impact areas like housing, fuel, food, or healthcare, and see if those can be cut down to some extent.
- Focus first on your 'disposable money' expenses like eating out, and entertainment and curbing those, gradually.
Trinity
@trinity_493
Budgeting Basics: Budgeting Mistakes to Avoid
Common budgeting mistakes
- Not Tracking Expenses: it's impossible to stick to your budget if you don't know where your money is going.
- Buying on Impulse: Impulse buying is expensive.&nb...
Tracking expenses
Write it down when you’ve gone over your budget. The negativity you feel will help prevent you from overspending more or doing it again. Just think of this step as damage control.
Being frugal and miserable
If you try to deprive yourself too much, you’ll binge later and throw all your hard work out the window.
A spending binge can set you back far more than treating yourself occasionally, so go for the occasional minor splurge. Just keep your treats within your spending limits and you’ll be fine.
deepstash
helps you become inspired, wiser and productive, through bite-sized ideas from the best articles, books and videos out there.
Over 2M Installs
4.75 App Score
Deepstash is better on the app. Discover new ideas and get inspired daily.