When it come to NOT splurging your money, can sometimes be easier said that you won’t spend alot compared to actually not spending alot –  especially when you see something that you really like. 

But by planning either with a budge plan ahead of time, budget at the beginning of each month or on payday, so by keeping on top of youe finances and staying out of the red zone. Now more than ever with the economic climate os a good time to start budget, if you don’t already do so. Budgeting is a critical skill we all need to adopt!! It also helps to priorities how and where we should spend or save out money.

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If you yourself or someone you know who struggles or doesn’t understand how to budget, then here are a few simple budgeting steps to help you or someone you know to get started:

– First you need to figure out your monthly income – if this includes you salary then your salary after tax is needed in order to work out how much money you have left available for the rest of the month.

– Write a list of all your monthly outgoings – including any direct debits like rent, bills, debts.

– Also consider what else you spend your money on. For example: Do you buy a coffee everyday from starbucks or do you have a drink down the pub every friday night after work? Either way, it can all add up to a small fortune. Everything muct be considered.

– Next, if you’ve got money left over then you can allocate the rest of the funds accordingly.

– If you’ve found yourself in negative figures then you may need to review your financial bugdet. See if there is anything that can be cut out? You might be suprised with how much you actually spend on things that you don’t neccessarily need. This doesn’t mean you can’t treat yourself, but there’s still certain things you can definitely lose!

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Once you have deducted your expenses from your income to help manage your money better. You can also spilt any money you have left over into a daily or weekly budget, this can make it easier to track your finances.

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I hope these simple tips can come in handy with helping you to draw out a budget and become more disciplined with money, reducing the chances of splurging money all in one go!