4 Things To Know
4 Things To Know Before You Create Your First Budget 😎
We all know that budgeting is important and often hear the various ways it will benefit us. And so we decide to start budgeting 📔
However, taking it up for namesake, because it’s the adult thing to do or simply because you think it will save up some money doesn’t exactly work to your benefit.
It is important to go through a few steps before you start budgeting; steps that will help you gain purpose for your budget 💇.
Then, not only will the benefits come in, but your budget will also have direction; it will keep pace with the changes and circumstances popping up in your life ☝
- The Why report
It is crucial to understand why you are budgeting. You need to decide the reasons for it, not just because it’s a financially responsible thing to do, but really sync the reasons with your goals ✐.
Once you understand your many reasons for budgeting, it is best to write it down and that becomes the foundation of your category division as well as your motivation 📔
- Priority colors!
Creating your order of importance will help you choose from different budgeting methods. For example, if you wish to clear your debt, all your extra money for the time can be dedicated to clearing it off after which you can shift to a different and more balanced method like the 50/20/30 rule 💰
- Deliberating what already exists.
Research and organize what apps, books, and sites you want to use to track your budget. Make sure it complies with your style of expenditure and personality. With the abundance of such apps available nowadays, it is easy to find one that resonates with you in particular 📗.
- Love yourself; Treat yourself
Never forget – as important as life is and the ambitions you have, taking care of yourself is just as important. Many of you are under the impression that budgeting means eliminating all sorts of fun for yourself and creating a strict routine.
Realistically, that doesn’t work because it deprives you of the things that help you de-stress. Anything in extreme measures is never good. Having fun in moderation? Go for it!! 👍
Try our hacks and let us know if you had fun with them. Share your story with us on Instagram with #finllect! 🤗
Stay safe and smart
Team Finllect 💰