Budget Wallflowers

4 Things To Know

4 Things To Know Before You Create Your First Budget ๐Ÿ˜Ž

We all know that budgeting is important and often hear the various ways it will benefit us. And so we decide to start budgeting ๐Ÿ“”

However, taking it up for namesake, because itโ€™s the adult thing to do or simply because you think it will save up some money doesnโ€™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 ๐Ÿ’‡.

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 โ˜

  1. 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 โœ.

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 ๐Ÿ“”

  • 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 ๐Ÿ’ฐ

  • 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 ๐Ÿ“—.

  • 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 doesnโ€™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!! ๐Ÿ‘

Try our hacks and let us know if you had fun with them. Share your story with us on Instagram with #finllect! ๐Ÿค—

Stay safe and smart

Team Finllect ๐Ÿ’ฐ

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