Planning ahead with a budget can help your money go a long way. You might be drowning in debt, recently laid off or trying to keep your head above water when it comes to your finance; taking small steps with your money can lead to a big change in your finance. For the past few years, usually in December, I plan the household budget for the upcoming year and it has helped our family to manage our finances with a little more ease. Years ago we used to follow the money and hope that we could hold on to a little bit of our earnings, but we often found ourselves with empty pockets, waiting on the next paycheck. I would say, it was through divine intervention that gave us a better knowledge on how to handle money and I’m so glad that we learned (and we’re still learning) lessons on money. Read a previous post about a tip on handling your utility bills here.
Having a written budget helps you see where your money is going; allows you to consider possible alternatives for service–you could switch to another provider that’s less expensive; imagine new ways to reduce your expenses. There are many formats you can use when you create your annual budget, there are many sample budgets in books and on the internet that you can use as an example to help get you started. Find one that works best for you and your financial situation. Once you get a handle on working with your finances, then you should be well on your way to savings.
Casually speaking and all the best,