Everyone knows, budgeting sounds like a bore. But it’s a very necessary step to totally owning your financial situation, and if you have no idea where your money is going every month, you might find yourself over drafting, overspending, and therefore, over-stressing. And who wants to live life like that? If you’re a budgeting beginner, here is where to start in five easy steps.
Budgeting
5 Ways to Control Emotional Spending
Sometimes it may seem like shopping has become America’s favorite pastime. With advertising popping up everywhere—from TV to billboards to city buses— shopping seems to be everywhere. Advertisers spend billions of dollars annually convincing us that products can make us feel successful, prevent us from being bored, help us attract a partner, and a myriad of other things. With ads carefully designed to manipulate our spending habits, it’s no wonder so many people have become emotional spenders.
Budgeting methods
How to Choose the Right Budget System
The best system for you depends on what you’re trying to do — curb spending, pay down debt, build savings or something else.
Budgeting systems are designed to help you understand and evaluate your relationship with money. While all share a common goal, they often use distinct tactics to get you there.
We’ve narrowed down some options to help you find one that resonates. Use these recommendations as a guide.
Free trials can be costly
Free trials can be costly
Getting free stuff is cool…until it isn’t free. It is decidedly uncool when, after luring you in with “free trials” for products you might like, a company hits you with surprise charges during the supposedly “free” trial period.
When a Saver Marries a Spender, Every Penny Counts
If you’re a penny pincher but your spouse is loose with the family purse strings, money arguments may frequently erupt. Thinking of yourselves as two sides of the same coin might help you appreciate your financial differences.
Budget + Investment = Reward
If you find yourself using your savings account to pay bills or prevent your checks from bouncing, then its time to reevaluate your spending habits.
Want To Get Financially Healthy In 2023? Four Simple New Year’s Resolutions
It’s that time of year and my unofficial study of everyone I’ve ever known shows that 99.9% of New Year’s resolutions include money. Saving more, spending less, increasing earnings – most of us include some form of financial health as one of our goals for the New Year. ‘Getting my finances together’ is on everyone’s list, but often pushed down with every new list addition. Getting started is a daunting task, and many are intimidated to do so – but you don’t have to be a sophisticated investor to manage your finances.
Who Controls the Cash?
Once upon a time in American marriages, the husband “brought home the bacon” and made all the big financial decisions, and the wife received a “household allowance” to buy groceries and other everyday necessities. Today you might need to watch a 1950s sitcom to find that dynamic.
Reduce Debt By Taking Charge
Getting out of debt and staying out of debt is not easy. If you’ve already amassed a fair amount of debt and are thinking it will be impossible to ever get out from under it all, don’t despair, you can learn how to stop incurring new debt and take charge of your life.