Know when to stop trimming - Deepstash
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Know when to stop trimming

Much personal finance advice focuses on making cuts. The information is useful when you're trying to avoid mindless spending. However, there is a time to shift your focus from slashing to earning.

Polish your resume, and apply for open roles that could be earning more. If you're not looking for a career move, a side hustle can help increase your income.

70

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MORE IDEAS ON THIS

Decide how strict you need to be with y our money

Your budgeting style will change over your lifetime. You may use the envelope method when you need to be stricter with yourself.

Some people feel less stressed when they use budgeting styles that track every penny. Others find it is enough to run cash flow and know there's...

62

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Give your savings account a nickname

When you give your online saving account a fun nickname, it will remind you why you are budgeting and saving.

Instead of an account no, change the name to something like "Quit this boring job" or "Italy trip post-pandemic."

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The cash flow formula

The cash flow formula

The word "budget" is often synonymous with restricted and rigid, making you want to avoid it. Instead, use the term "cash flow."

The formula for cash flow is:

(Monthly income) - (Monthly expenses + saving) = (Money left to spend.)

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