Trying to form a new habit can be a long, painful process especially when it doesn’t particularly spark joy. But unlike cleaning up a mess the Marie Kondo way, it’s a bit more difficult to improve your spending habits in a world where you can instantly confirm payment with just your fingerprint. Plus, in this day and age, no one carries cash anymore unless they’re over or under a certain age. Instant shopping is a slippery slope that can lead to debt that gets harder and harder to manage over time.
Worry not, savings tips exist to help you control your spending in a way that works for you. There’s no need to cut credit cards or freeze them in blocks of ice anymore. It’s all about watching where your money goes and looking for any wasteful spending. Remember, creating a budget isn’t a punishment, but a way so that you never have to worry about not having enough funds.
Why You Should Always Be Saving
It’s a little abstract to consider preparing for your future self’s finances as a good goal. Consider thinking about budgeting in a different way such as:
Working Towards a Goal
Think about something you want, be it a meal at your favorite restaurant, a summer vacation, or a savings amount. It helps to see yourself getting closer to a goal and encourages you to keep going.
Keeping a roof over your head means that you can’t spend what you don’t have!
Preparing for the Future
If you don’t want to be working or struggling to manage as you get older, save yourself from future headaches and start slowly as soon as you can.
Just in Case
You never really know what’s going to happen to you and life is full of surprises – like accidentally backing out your garage and swiping your side mirror that you can’t leave dangling.
Doing mental math every time you want to spend money can be stressful. Spending better can keep you reassured that you’ll be okay.
Budgeting the Old-Fashioned Way
One of the most straightforward ways to start a budget is using the 50-30-20 rule. 50% of your total income goes towards your needs, 30% goes to your wants, and 20% goes to savings. It takes a bit of planning, but it’s easy to adjust to any income!
Budgeting in Today’s Age
There’s an app for that! Like many things, there are budget apps that help you organize your spending, alert you on limits, and give you tips for saving more money based on your habits!
Practical Ways to Reward Yourself for Saving
The hardest part of a budget, besides the mental math, is sticking to it. While you reach your big goal, it helps to have smaller reachable goals and then reward yourself. But if you’re the type to reward yourself by buying something new, consider rewarding yourself with something small like lighting a candle at dinner, taking a longer nap, or buy an overpriced snack (within reason, of course)!