Tweet

With a steady budget, you will be able to see where your money is going, thus appropriating it accordingly.  Knowing your monthly expenditures will allow you to plan on spending less than you make.  

Whenever you spend less than you make a month that extra amount can go into savings, and saving is an important aspect in controlling your finances.

The thing is that if you spend less than you earn, then you will never go broke.  This is because there will always be a “safety blanket” between income and expenses.  

Ways to focus on reducing spending could be doing things yourself instead of spending money on them.  This means if you’re hungry, make a sandwich and do not go spend loads of money at some greasy fast food joint.  If you currently have your own streaming services (i.e spotify premium, amazon prime, netflix, etc.) that you are paying for, find friends that would be interested in the family plan- splitting the cost and reducing your personal overhead. Finally, do not go somewhere without having multiple reasons to do so.  In other words do not burn gas going to Altoona if you do not have more than three reasons to go there- it’s just a waste.

Remember it is important to manage your money so that you have some left at the end of your budget. 

 “The formula for winning at money is simple- spend less than you earn.” -Anonuymous