Hello friends, so today I thought I would share something a little different than usual with you all today. I am sharing all my tips about how to save money and what we do every month to hit our budget goals.
I figured now it’s more important than ever to share because of all the financial hardships people are facing due to COVID.
And it all kinda ties in together because I definitely gotta have a budget when it comes to home decor! Otherwise, I would spend way too much money on it! I’m not the only one, right?!
1. Determine Your Monthly Budget
So the very first thing you got to do is set up your monthly budget obviously. Determine how much income you are making approximately each month and how much you are sending out in bills and necessities.
Then you can decide how much you have leftover to use for entertainment purposes.
Although, I have found that during this whole COVID situation, I am not spending as much money in this area. Either things are still closed, or the shops I frequently visit have low inventory every time I go so I can’t find anything!
So I guess there is kinda a silver lining to the COVID pandemic after all. However, that’s pretty bad that it’s taken a pandemic for me to quit shopping as much, don’t you agree?!
Examples of things to consider in your monthly budget:
- Housing
- Utilities
- Food
- Savings
- Charitable Gifts
- Transportation
- Clothing
- Medical/Health
- Personal
- Debts
- Recreation
2. Use a Budget Calculator
I recently discovered that you can use an online budget calculator to help you figure out your monthly budget and how you can save money more easily.
I can’t believe I haven’t tried one of these out before! It really is a game changer. I am a very visual person and I like to see everything laid out in front of me and Pigly does just that for you!
My favorite one to use is the Personal Budget Planner. This particular calculator helps you estimate your biweekly, monthly, or annual income and then it converts it into the guidelines set up by Dave Ramsey to see just how your spending compares to others!
How cool is that?! That way you can really know if you are overspending or if you are right on track!
The percentages are a great guideline and they change appropriately based on income level and age group.
Using this calculator, you can set your percentages for each category initially, and at the bottom it will show you a total which will calculate how close to 100% you are. Then you can always adjust and change your spending habits to meet your current income.
3. Stick With It
I know it may be hard at first, but once you get in the habit of really sticking to your budget and following through, you will definitely start to see the money saving results!
I always tend to find something I want to buy when I am nearing the end of my monthly “fun money”, but I always think to myself, “Is it really worth blowing the budget I worked so hard for to buy this?!”
And mostly every single time, the answer is no.
I try to write down things I really want and plan them out throughout different months and purchase them then. That way I am not overspending all in one month.
I think planning is key when you are talking about how to save money. It doesn’t mean you can’t ever spend money, just that you should be smart about it and only buy what is really necessary and what you really want!
Conclusion
I think that everyone struggles with budget from time to time. And like I said earlier, especially now with everything that’s going on!
So it’s totally okay to give yourself some grace and learn as you go each month on how you can better save your money.
Pigly has been such a great resource for me and they have so many other budget calculator options such as a savings calculator, interest withdrawal, retirement savings measuring your net worth, and reaching your savings goals.
If you’re struggling with budgeting, go check them out and see all of their great and FREE resources and determine which ones will help you out the best! As always, thanks so much for stopping by and have a lovely day my friends!
Awesome post. Maintaining budget is so crucial always.
Thank you! It sure is!
I like to create a month budget and work out what bills will be going out throughout the month so that I know what I have left. I also have a few savings accounts that I try to use towards things in the future. It was definitely difficult to begin with especially when I first started working and I wanted to spend my money. But over the years, I’ve learnt to budget and workout what I can spend and save etc.
Yes! Exactly. The more often you do it, the easier it becomes! Thanks for reading!
Great money saving tips!
Thank you so much! I appreciate it!
The Planning Calculator sounds reallyyy handy and I have it bookmarked so I don’t forget lol. Dave Ramsey has amazing financial tips, and as much as we “budget” we don’t really have a set budget. Thanks for sharing these resources!
Of course! And yes the calculator is definitely amazing for sure!
These are really useful tips š
Thank you for sharing this post š
JENISH | https://knowafactfromj.blogspot.com
Thank you so much! I am so glad you found it to be useful!
I’ve only started using a budget planner ( a simple printable I created for myself) this year, but I can see how much it’s helped me save money. I’ve never used a budget calculator before, but I definitely need to try one. Thanks for sharing!
Much love always,
GABBY | http://www.gabbyabigaill.com
No problem! Yes printing it out and writing it all down is always a great option too!
I had no idea you could use a budget planner like this. I so need to do this! Thanks for the tip.
Yes it makes it so much easier! And no problem! Glad I could help!
Simple but effective tips. We should really realise the power of budgeting!
Yes it really is so important! Thanks for reading!
Using a budget planner is a great idea! I am always falling into the trap of impulse buying and have been trying to kick that habit!
Oh yes! That can be a hard habit to kick! I am the opposite and tend to overthink things a lot before actually purchasing them lol
I don’t know about everyone else, but ever since quarantine I sometimes struggle to find things to do and then I find I’m more likely to online ship, which is doing major damage to my budgeting š¬ however reading this post really helped me out and gave me some ideas to budget going forward! Thank you for sharing!š¤
Yes! I definitely struggled with that during quarantine too! Thankfully, I am back to work so now it isn’t as bad!
I have just started earning money and this post was literally so so so helpful! I need to work on saving money. I am an automatic spender š ! Loved these tips!
Lol I am too! My hubby has to help me with the budget a lot and keep me more on track!
I love these different tips on saving money! Things can add up so quick!! It is so important to know all of your expenses and have a way to keep track of your money. I love using apps like Mint! So important to be committed too, especially if you have a goal you want to meet!
Nancy āØ exquisitely.me
Yes it is so important for sure! Thanks for stopping by!
I NEED that calculator! I didnāt even know that was a thing so thank you so much!!!
Yes! It is so helpful for sure!
Wow this is good! Definitely A good read for me since Iām a college student!!! Thank you for sharing!
Awe yay! I am glad you found it useful then!
Setting a budget is one thing I am good at, but sticking to it is something else entirely lol. Great post!
Lol yes! Sticking to it is what is challenging for sure!
I love playing with budget numbers in calculators! I’ll have to try out the ones you listed here. They sound pretty cool.
Yes you should try them out then! Hopefully you will like them too!
Liked the informative post. Thanks.
Glad you enjoyed it!
Great post! I had never heard of these budget calculators before so Iām looking forward to trying them out šš»
Glad you enjoyed it! I hope it helps you too!
I recently started breaking my monthly budget down into individual weekly budgets and it absolutely revolutionalised the way I handle my spending and savings – I found it a lot more manageable to stick to a weekly budget as opposed to a monthly one š x
Roni | myelevatedexistence.com
That’s a great idea too! Thanks for sharing.
Great tips. I have a budget need to find a budget calculator.
Thank you! You need to try them out and see if they work for you too!
Though I am not much into making a budget, still I keep in mind how much I need to spend a particular thing. Thanks for these wonderful handy tips.
No problem! Glad you enjoyed them!
Hi Charity. I think you’ve hit the nail on the head there. Three simple, but vital, steps to take. (btw, we’re old school and tend to use a spreadsheet for our budgeting!)
Thank you so much! And using a spreadsheet always works too!
Great 3 tips! Budgeting is definitely crucial, and so is keeping with it, no matter what you decide to save money!
Yes I totally agree! It is very important to pay attention to it for sure!
During covid has been the perfect time to start thinking about money. We have as a family been able to save a lot of money and I’d like to continue this as things return to almost normal.
Setting a budget will really help this, thank you for sharing. Its really helpful info x
I am so glad you found it helpful! And yes, COVID definitely got us thinking more about budgeting for the future too. It was really eye opening for sure!
Amazing post! Thank you for sharing! This is very useful!
Thank you. I am so glad you found it to be useful!
Great tips! I organise my budget as early as possible and I know through lockdown it became a bit of a mess but itās back to being organised better.
That’s good! Lockdown threw us all off I think!
I know a lot about personal finance and budgeting, but I have never even heard of Pigly. I’ll have to check it out. Thanks for the info.
No problem! You should definitely check them out and see what you think!
These are amazing tips! Iām still struggling to budget, but every week I get better and better. Thank you for sharing!
No problem! Glad you enjoyed it and found it useful!
I’m TERRIBLE with budgeting but I did get a budget planner. I’m not the best at using it, but i’m working on it.
That’s awesome! At least you got one to use! That’s the first step!
Great tips! We do a monthly money meeting where we talk about finances at the end of the month. But we really need to start setting a budget at the beginning.
Yes! It always helps to set a budget right at the beginning for sure!
It is so important to think twice before spending money on anything. And if it isn’t necessary one should stop themselves from purchasing it.
I totally agree with you! That is the best way to stay on budget I think!
Great advice and I love that you mentioned the importance of sticking with your plan. I have seen far too many people set a GREAT budget plan in motion only to forget about it shortly thereafter. Or those who don’t fully stick to it, figuring a little off budget spending here or there won’t matter (although it can add up and fast). It only works if you’re willing to put in the work!
Exactly! I totally agree, you just gotta put in the work to make it work for sure! Thanks for reading and sharing your thoughts!
So helpful, especially now! We always are looking for new & improved ways to budget & save $- definitely looking at pigly! Thank you š
I am so glad you thought so! Definitely check them out and see what you think!
Really clean and well organised.
A few days back I have also written a post on āHow to Plan Budgetā after realising the importance of budget planning. It should be done continuously and consistently.
This is really informative. Thanks for share.
Yes it definitely should! Thanks for reading, glad you enjoyed it!
This post is super helpful! New to the budgeting world so sometimes I can be really hard on myself when I slip up but ultimately it’s been an extremely positive and confidence boosting journey. I’ll be sure to look back over these tips every now and then to keep myself on track. Great post!!
xo Bri
Awe thank you so much Bri. I really appreciate it and I am so glad you thought it was helpful!