Budgeting Tips

Budgeting Tips

We all are actually scared of the term budget!! Because budget means, more of confined living, where you can’t eat out as often, nor buy things you really love and things that might cook up our outlook!!

Well, in your question and problem you already have a solution. Eating out often will surely add up to our existing bills, can you afford to eat out each day and what about your health? while you spend once at the restaurant without thinking, you will surely shell out twice the fund to the hospital in the later stages.

Now, budgeting means you can’t buy things you love to; well, don’t you love to live your long dreams, of owning something more cherishable or live that dream of traveling or studying or anything else, that is beyond your materialistic goals? Buying something you love temporarily today, will ensure that you have to sacrifice your eternal love, the most cherished thing!

So, now tell us what you want to do? Go with budgeting or suffer the life? The wise one will surely choose the former, and the ordinary settles with a temporary life. To do budgeting, we first need to analyze your pay pockets and your earning. Do you get a handsome salary or a mere one? what about increasing your pay first? Can you do that?

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So, here is the most waited budgeting ideas:

After-tax paycheck:

Yes, write down your paycheck after paying all Taxes and after deducting all the commitments. Please keep in mind that life insurance is not an investment, it’s just a protection layer, for your family in case of your sudden demise. So, calculate under expenses, and put in a different place, apart from the investment.

Key to the plan:

Before you come up with this, understand what and why you need budgeting! The basic key to the plan should be savings!! Savings in any form, a smaller save everyday end, or month end or at the beginning through any mutual funds or bank deposits or so on.

Automate the savings:

When your money directly goes from bank to your investment spot, then you can’t do anything but just save it! so do this and see how your future changes.