Budget Hacks

Okay, we all know that budgeting is not easy and sometimes we go off track. What are some of the ways to apply discipline so that we can maximize our monthly income and still have enough to do fun things with our paycheck?

"A budget is telling your money where to go instead of wondering where it went." - Dave Ramsey

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Simple hacks to help you budget.

- Write down consistent and necessary bills - rent, car, utilities, food, transportation, etc. Use the leftover amount to disperse and always save as much as you can even if you have to go without the new purse.

- Use a fixed allowance for all the incidental expenses and make yourself stick to it by recognizing needs and wants. - If you have leftover spending money at the end of each budget, put it into a separate account where you can pay for future expenses.

- If you can't pay more than the minimum on your credit card, at least stop charging items that way your balance will decrease faster.

- Keep a monthly revolving amount of money available in your account for unexpected financial situations to avoid charging it on your credit card.

- Have a separate bank account, with another bank if possible that should be used for emergencies only. You could also use this account for birthdays, as a holiday fund, or that once a year car insurance bill.

- Instead of throwing old items away, list them online. One man's junk is another man's treasure.

- Consider starting a small home business with low start up costs that way you can pay for the little expenses that add up over time.

- Save your tax refund. Yes, it's generally money you use to pay off Christmas debt or take a vacation, but once you implement the other techniques, you'll already have the extra money. - If you always receive substantial refunds, think of adjusting your W4 so that you can get more money from each paycheck rather then all at once at the year's end.

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