The secret to a successful personal budget keep it super simple
We all know we need to make a budget. We all know that a budget is a plan. We all know that without a plan in life, we will not succeed.
So why do we find it so hard to make a budget? Whats our budgeting problem?
The problem for many people is they try to make it too complicated. They go to the bookstore and buy all the books they can on personal budgeting. They purchase the latest money tracking software for their computer. They sign up for one of the many on-line budgeting services. By then they have spent so much time preparing to do a budget, that they don’t have time to do a budget!
Don’t fall into that complicated budget trap. Remember the secret to a successful budget is to keep it simple. How can you keep your budget simple? Well, it’s simple.
Start with a piece of paper or a blank spreadsheet on your computer. Make a column, or a page, for every time you get paid. (Yes, you read that correctly. You don’t want a column for every month; you want a column for every paycheck). If you get paid every week, you want one column for every week you get paid. And remember, we want to keep it simple, so don’t put more than one months worth of columns on a page.
But wait, you say. I only pay my rent once per month; I can’t put my rent on my budget every week, can I? Yes, you can. We are keeping it simple, so if you pay £1,000 per month in rent, put £250 per week on your budget. You could even ask your landlord to let you pay your rent every week; that would be really simple. If you only pay the rent once per month, that’s fine too. The secret is that in your simple budget you are setting aside the rent money every week, so when rent day arrives, the money is already in the bank.
If you budget by the week and pay by the week, your life will be simple. You won’t be worried about whether or not you will have the rent money this week; you will already have set the money aside. No stress, no worries, because the secret to successful budgeting is keeping it super simple!
Monay is a total Ai wellness assistant and platform. Driven by a team of award-winning experts. Our mission is for Monay to help people achieve their full potential and well-being in order to make the world a happier, greener, and healthier place.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.