Budgeting
Saving Hacks
Helpful Terms
& Tools
Snowball Method
Budget. The dreaded “B” word. Everyone hates making a budget. It gives you feelings of dread, cold chills up your spine. But it doesn’t have to feel that way. In fact, budgeting can be rather empowering. Remember, you are in charge of every single dollar you earn. And making a budget helps you spend those dollars where you want to spend them.
Fair enough – when you pay the rent, the light bill, the water bill, etc., it doesn’t feel like you are in control… but, you made the decision to live where you live, to have running water at the lift of a finger and lights at the click of a switch. How lucky are you? The more you practice noticing all of the things you own, have and enjoy, the more you can create a feeling of abundance instead of dread.
When we want to manage our weight, we log what we eat so we are conscious about how we are spending our calories. Budgeting uses the same concept – it’s being financially conscious of where your money is going.
You may feel trapped by your paycheck, but budgeting gives you back the power and control. Creating a budget makes you think about “needs” vs “wants.” When we talk about needs, we’re talking about the bare necessities – food, shelter, etc.Wants are things likea new pair of shoes or handbag.
We know, despite the best budgeting in the world, its sometimes difficult to stretch your money between paydays – so the first step is to see where the money is going! Once you’ve assessed that, we’ll help you figure out the next steps you can take to financial empowerment.
If you buy a $5 coffee every day it adds up to $150 a month! If you make around $40k per year, that’s about 5% of your monthly income. On coffee!
