In this article: Determine your budget Change your lifestyle Show ingenuity Related articles References
Believe us, you are not the only one who has to tighten your belts. More and more people are looking for ways to live with less than before. And it's totally doable, sometimes thanks to tricks you hardly realize. You will not survive, you will live life to the fullest and enjoy life. Challenge yourself! In this article you will know how to live in a tight budget.
Determine your budget
Estimate your income. This is the first step in any budget. To know how much money you can spend, you will need to know what your income is. By removing taxes, of course! It will be easier to establish per month, so look at your last payslips: how much have you brought home in the last 4 weeks?
If you are a freelancer or self-employed person, make sure you know how much you owe in taxes. The hole left in your wallet wouldn't be that big if you factored it into your budget.
If you are an employee, do not count on a tax rebate. If you get this discount, great. But it's not certain enough that you can count on it right now.
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Make a list of your expenses. There are expenses that are easy to assess (rent, monthly loan payments, transport, etc.) and less regular expenses (charges, food, outings, etc.). Be realistic, prefer to overestimate your expenses than underestimate them. Do you dig your brains out for everything you forget: do you make a regular donation to an association? Do you treat yourself to a cappuccino for 3 Dollars every other day? Paying direct debit for a yoga class you never go to? Do the math!
Review your account statements for the extras . The main advantage of our plastic world is that you can log into a website and see directly where you spent your money. But that doesn't mean you can spend lavishly on cash!
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See where you can save money. By looking at this list, find a few expenses that you could reduce. Could you do without a landline? Give up cable? Skip that take-out coffee? The easiest expenses to reduce will be superfluous : the money you spend without even realizing it.
When it comes to technology, don't be afraid to make a fuss. You can definitely call your ISP, phone, TV and tell them that you can no longer afford what you are paying now. You would be surprised how much money you could save. So even if you look at your list and say you can't save any more, you could be wrong!
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Set goals for yourself. Now that you know how much money you could save by being careful, make a goal of saving money. Have two numbers: 1) how much you can spend each month and 2) how much money you want to put aside. And with the rest, indulge yourself!
You can set daily, weekly, and monthly goals. It's up to you. You could allow yourself 7 Dollars of food per day or 35 Dollars of groceries per week or a monthly sum for what you want. Just know how to manage this money.
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Leave room for emergencies. There will inevitably be emergencies. Whether it's the leaky sink or a mysterious case of diarrhea that keeps you from going to work, there will be emergencies. Plan a little bit of money in your budget for these emergencies: and if they don't happen, it will only be a bonus!
Think about it: Do you often spend money that you didn't plan to spend? If you are like 99% of us, then the answer is ' constantly' . So even if this emergency is the birthday of a friend you forgot, be prepared.
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Prioritize extras. Hopefully you have a few bucks left that you can spend for your pleasure. Unfortunately, these Dollars do not grow on trees and there are very few of them. It is therefore important to establish priorities. Want a house full of puppies or a manicure every two weeks? What would make you happy?
We're not telling you that a house full of puppies or a fortnightly manicure are bad ideas. Some people don't consider them essential, but if you do, that's all that matters. So make room for what is important to you. Just be realistic. If you can't afford it, you will have to give it up.