Enjoy life while sticking to a budget

Making a budget doesn’t have to mean completely overhauling your lifestyle and depriving yourself of any fun. After all, who wants to take away the parts of life that are bringing us the most enjoyment?

Here are a few simple tips that can help you to work towards your financial goals while still enjoying life.

1.  Add up your spending. Just knowing the incomings and outgoings of your household can make a big difference to your financial situation. If it seems overwhelming, start with  looking at your spending from the previous week.

2. Check your spending categories. Everything you spend should go into some general category – food, transport, entertainment etc. Do any of these categories stand out? Are you spending a lot on something that isn’t very fulfilling like a muffin or scone with your takeaway coffee? That could be the perfect place to start making some cuts.

3. Focus on your goals. Any budget will be more successful if the goals feel important to you. For example, if you want to travel more, especially when the borders reopen, then you should start putting money aside specifically for that purpose.

4. Stick to lists. Having a shopping list can dramatically reduce your food expenses on a trip to the supermarket. No more grabbing a bag of treats and forgetting to pick up the milk.

5. Shop for the future. If there are some items you know you’ll need to keep buying, see if you can pick them up in bulk, especially if they’re on sale. Spending a little more now will set you up nicely for future savings.

It’s entirely possible, and easier than you might think, to build up your savings while still living your present-day life to the fullest. All you need to do is find the spots where you can tighten your spending, without losing anything you truly love.