It’s the number one thing that people fight about in their married lives. Some people feel like they never can get ahead. Unfortunately, husbands can start to blame wives and vice versa about their spending habits. The truth is, most times both parties are to blame. There is usually always two sides to every story. What’s the solution? Tax Wise Accounting and Bookkeeping suggests you make a budget.
Millions of people are budgeting and finding ways to save money and purchase the things they need. How do you go about doing it? First of all, you will want to compile two lists- income and expenses. Sounds simple, right? Under expenses, start making different subheadings of needs that you have. You will want to write down things like food, clothing, unexpected or miscellaneous items. Make sure you have a flexible budget because there might be things that come up unexpectedly. For every expense, you have, try to come up with a reasonable amount of money that can be spent on it. You should be able to use past food receipts, bills, and your pay check to know much money you would have for these things.
One couple who lived successfully by a budget had this to say: “Probably the most important point in making our system work is setting a realistic amount for the household expenditures. The system won’t operate if the amount set aside for the household is so small you can’t possibly get through the month on it.” Make sure when you work on a budget you do your best to let everyone have a say. Make sure to not just look out for your own interests.
Now that you have something that kind of resembles a proper budget in front of you, grab a calculator and start adding all the expenses up. Sometimes it might look like you don’t have that much money. Remember, the first copy is always a rough copy, and you might have to trim different areas of the budget later. This is the part that can be the most difficult. You will need to think about what a true need is and what isn’t.
What is a need? When it comes down to it, all we need to live is food, shelter, and water. Sometimes our view of this can get distorted due to the area that we live in. Before being quick in thinking that you need to go out and get an extra job, try to think of the pros and cons of doing such a thing. If you work more, there will be more of a strain put on your family life. A lot of people who have found themselves in this spot, working more to expand their budget realize that it’s a trap that’s hard to get out of.
What can help you to make cuts? Getting rid of expensive habits can help. Things like smoking or drinking too much. Breaking these habits could literally save you hundreds of dollars each month. Those coffee runs at pricey cafes can also put a dent into your wallet. By making your coffee at home and bringing it in to go cups to work can save you heaps of money that can be spent on more necessary things. One important thing you can add to your budget is a savings strategy. Even if it’s just a little bit you can save on the side, over time it will add up and you can have more room to breathe financially when emergencies happen.
Hopefully you’ll get used to living on a budget. It helps lessen anxiety when seeing things on paper and you’ll learn what you have to work with and what you’ll have to do to keep yourself financially stable.