BUDGETING 101: TIPS AND TRICKS THAT WORKED OUT FOR ME

 

BUDGETING 101: TIPS AND TRICKS THAT WORKED OUT FOR ME

Let’s take a break from Real Estate content and talk about something personal that many of us find challenging to do. Let’s talk about Finances and Budgeting.

Unlike what you might think, budgeting is not all about limiting the things you spend money on and cutting down on all the fun in your life. It’s really about understanding how much money you have, where it goes, and planning how to allocate those funds best. Learning about financing and budgeting is essential in helping you plan out your finances, starting from where and what you spend the most on and what needs to be cut down to minimize expenses and save a lot more for your future needs.

Here are a few things that we were able to come up with to manage our finances that might work out for you as well:

CANCELLING CABLE SUBSCRIPTIONS

As a family with two kids, we rarely watch cable network channels, although we pay monthly subscriptions, which is a waste of money. The kids would watch channels and videos on other subscriptions such as Netflix and YoutubeTV. We rarely use the cable as our source of entertainment or information. Canceling our cable subscriptions made us save more than a hundred dollars per month just for the subscription and gave us space for a bigger budget on other matters.

SWITCHING TO ONLINE GROCERY SHOPPING

Paying that extra $7 for the delivery fee saves so much more than shopping for groceries physically at the stores. Being an impulsive buyer myself, shopping physically down the aisles of the grocery stores makes me want to buy things on sale. Eventually, I ended up with too much stuff that was not even on the list of things we needed and added unnecessary things in my pantry.

Shopping online also saves a lot of my time; no more driving to and from the grocery stores while giving up energy for taking the groceries in and out of the trunk. These reasons make it more than worth it to have those extra dollars for a delivery fee rather than personally shopping for the things that end up taking up too much of your time, energy and even buying too many of the things you don’t need in your pantry.

These are the two things that worked out for my family personally, but no one is ever the same, so look over your monthly bills and find what works for you! When you put everything on paper, you may be surprised at what you find!

Watch here: https://www.youtube.com/watch?v=_jS-Vgw6X6E