Figuring Out How To Budget Your Hard Earned Money

Budgeting your money is one of the toughest things you have to learn to do in life. As soon as you get your hands on some money, for sure you are thinking on how and where you can spend it. It’s really tempting to buy most, if not all, the items that you desire, but the question is, is it really necessary or something that needs to be prioritized? You have to realize that most of the things that you want are not what you need, and that you can get by without them either way. Some things you can live without means it’s not a necessity.

Saving Money

Here are some things to stay away from and how you can decrease your unnecessary spending :

  • Think about all of the food you buy on a weekly basis.

Are you eating out a lot? Are you spending too much on take-outs and deliveries? Do you really need to have that many junk food on your grocery list? A lot of people waste lots of money on food that they don’t really need, and this is hurting their wallets or pockets and guess what, they don’t even realize it. Make your grocery list and check if there are items that you can go without or luxurious things that you don’t really need then, cross them out. If you really want to try a new brand of food or a newly released snack, then check if you can spare a few cents or a dollar and buy just a portion. A lot of money is wasted on food that people wind up throwing away and never eating. Avoid being wasteful and only buy food that you know you are going to eat. I am actually guilty of this. I love to try out this new food that I saw in a tv commercial, so I’d buy it, even if it costs me to cut off some other things on my grocery list. Yeah, just to try and taste it and most of the time, the reason is because I want to be the first few who can blog about it, lol.

  • Far too many people think they do not have enough clothes.

Some people feel that it’s time to change their wardrobe or think that it perfectly suits them. This is one of the reasons why you see people at the mall tirelessly trying to buy new clothes every day. Though it may be a cool idea to have new clothes often, you should include clothes in your monthly budget. This way, you will see how much you are spending on clothes every month and to finally realize that you are way over spending. Over a period of a few years, you probably have amassed a good collection of shirts and jeans that you like, therefore, there is no reason to buy more. But, of course, you won’t think that way, coz maybe you have also gotten a sickness called “shopaholic”, lol. It’s okay to buy new clothes every now and then, but not every weekend. Gee, I bet you’d be needing additional closets to store your newly bought clothes, and soon. Stop giving in to consumerism and really stop spending time thinking about the clothes you are going to buy before you even buy them. You can save a lot of money by not making clothes purchases that you previously thought were necessary. For the second time, I’m guilty. I’m not a shopaholic but sometimes, the “itch” is hard to resist. I don’t know how or where to categorize myself but, I know deep inside and after many “in denial” stages, I am indeed a shopaholic, lol.

  • Turn off all the lights in your home including unplugging those appliances you are not using, and reduce the amount of water you use on a day to day basis.

A great way to save money is to not be wasteful. It’s not necessary to have the porch light turned on so you can see what is going on outside. Some uses a porch light at night to ward off thieves but don’t use a light which has high wattage There are other ways you can feel good about yourself, like by taking a bath in a warm tub, or reading a book outside. Think about different ways that you may be wasteful, and try to limit your consumption by as much as you can. Water is an important part of our lives, try not to waste it by dipping in the tub every day. You can cut down your electricity and water bills if you know how to save it. You are also helping Mother Earth and all humanity.

Using the advice you got from this post, you can change your life so that you aren’t as wasteful as you are right now. When you start to realize and be more conscious of how many things you are getting because you think you need them rather than actually needing them, you can start making budget cuts in your life. Do not spend unwisely the rest of your life. It’s time to get serious and plan out the things you are going to buy, and you’ll save a lot of money in the long run.

The money you save can be invested in real estate, stocks, bonds etc and you will get annuity sooner or later. At least, when you grow old, you have money coming in and you won’t have to borrow or get a loan just to get you by until you die ๐Ÿ™‚

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  1. One very useful tip I learned to cope with impulse buying: if you find something nice at the mall, put it back on the shelf and return to purchase it after a week. Most of the time, you would have lost the impulse to buy it by then.

    1. or, the price has gone down and now I can buy it without the guilt of getting it at the higher price ๐Ÿ™‚

  2. Guilty of all the above! Shocks you hit me right in the gut. Haha. This is a good reflection.:)

  3. It’s funny because I find it easier to budget other people’s money but I spend all of my own. I really need to start being financially conscious of my own funds… Btw, I never scrimp on food. I can let go of material things but not food. Hehehe!

  4. this one is a really nice guide but with all the things i needed to pay, how i wish i have enough money to budget, ha ha ha

  5. I really suck at budgetting..that is why I could not really save money

  6. these are helpful advice! personally i’m a budget conscious person but not good at it. so when i thought my money won’t be enough to plan all my purchases i delegate the spending to my sister in law for the house and to my brother for the office. but your post tells me that i can personally help saved up by not buying much clothes and turning off electricity. thanks

    1. Hi Mheanne. Yep, you won’t believe how much money you can save by not buying unnecessary things! Thanks!

  7. Very useful tips. I also suggest having only enough cash at hand. Having too much may make you carelessly spend.

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