Budgeting does not have to mean tracking every penny or creating a complicated spreadsheet. Sometimes a few small changes can make it easier to stay organized and feel more in control of your money.
Not every idea will work for everyone, but finding one or two that fit your life can make a difference.
Here are a few budget hacks that may help.
Use a Separate Account for Bills
Consider using one checking account for your regular household bills and another for everyday spending. Each payday, transfer enough money into the bills account to cover your upcoming expenses.
This can help you avoid accidentally spending money that you need for rent, utilities, insurance, or other monthly bills. It also gives you a clearer picture of how much you have available for groceries, gas, and other expenses.
Break Your Budget Into Weeks
A monthly budget can feel overwhelming, especially when you are trying to make your money last until the next payday.
After paying your regular bills, divide the money you have left by the number of weeks until your next paycheck. This gives you a weekly amount for groceries, gas, and other expenses.
It can be much easier to manage your money one week at a time instead of looking at the entire month.
Make Saving Automatic and a Little Harder to Access
If possible, set up an automatic transfer to savings on payday. Even $10 or $25 at a time can add up. The amount does not have to be large. Starting small is still a good start.
Something that works well for me is keeping my savings at a different bank so it's not as easy to transfer the funds.
The money is still available if I truly need it, but accessing it takes a little more effort. That extra step gives me time to think about whether it's really worth using my savings.
Plan Meals Around What You Already Have
Before making a grocery list, take a quick look through your refrigerator, freezer, and pantry. You may already have ingredients that can be used for several meals.
Planning around what you have can reduce food waste and help lower your grocery bill. It may also prevent those nights when you order food because you are not sure what to make.
Decide How Much You Can Spend Before Shopping
Whether you are shopping for groceries, clothing, or household items, decide how much you can spend before you go.
Having a number in mind can make it easier to make decisions and avoid adding extra items to your cart. If you are shopping online, leave the items in your cart for a day before completing the purchase. You may decide you do not need everything after all.
Review Your Automatic Payments
Automatic payments are convenient, but they can also make it easy to forget what you are paying for.
Take a few minutes to look through your bank and credit card statements for subscriptions, memberships, apps, or services you no longer use. Canceling even one or two could free up some money each month.
Keep a Small Amount for Yourself
A budget that leaves no room for anything enjoyable can be difficult to follow. If your budget allows, include a small amount for something you enjoy.
Giving yourself permission to spend that money may help you avoid feeling so restricted that you give up on the budget altogether.
Start With One Change
You do not have to try every budgeting idea at once. Pick one that feels doable and try it for a few weeks. If it helps, keep going and build from there. A budget can change as you figure out what works for you.
Written by
Lisa Ohnemus
Director and Certified Credit Counselor
Consumer Credit of Des Moines