Tired Of Feeling The Pinch At Month End? Use These Budget Tips!
Do you dread the last few days of the month before your next payday because you're almost always running short of money? With these budget tips, you can get yourself back on track so you'll not only get through the month, but you can also pay into a savings account. Get control of your money, and vaporize the month end blues.
Write a budget, but not just a vague outline of income and expenses. Your budget needs to be very precise, showing clearly and in fine detail what each expenditure is, when it is made, what your balance is after that expenditure and what expenses you will expect to pay out before your next payday. Even a five dollar miscalculation made several times over a few days will have a very detrimental effect by the time you get to the end of the month. Keep track, down to the penny, each expenditure and what your expected bills are.
If you have some bills that vary from month to month, such as utilities or phone bill, call the service provider and ask them to let you know how much your next bill is expected to be. Be prepared. If you're caught off guard, you can be caught short of funds. With this information, you can figure exactly the amount you have available for the rest of the month.
One major set back, such as needing to pay an insurance deductible, can create havoc in your financial security for months to come. To avoid that scenario, start setting aside a small sum every payday. When you run into a situation that requires you to pay for a necessary unexpected expense, you'll have something to draw from besides solely the amount you receive from your current paycheck. Also, with those funds available to you when needed, you can take advantage of opportunities, such as signing up for a class that can lead to a promotion at work.
Thinking of walking into that new boutique dress shop in the neighborhood just to check it out? Even if you go in with best intentions of only window shopping, chances are that you be persuaded to make an impulse purchase that you truly have no need to make. Fortified with that knowledge, don't walk into the shop. Keep walking. At the end of the block, check in with your inner financial planner. You will find that you are more empowered and money wise. That confidence can put more pep in your stride, and even if you're not wearing a new dress, you'll look and feel great. Confidence is an attractive accessory.
If you follow the steps you learned in this article, you'll find that the month end blues are a thing of the past. You can enjoy the satisfaction and confidence that comes from a balanced budget and more secure feeling every day of the month. As you learned, it's more fun to manage your funds, rather than having a lack of funds and nothing left to manage at the end of the month.
