Are you struggling to make your budget work? Then this is the post for you.
Keep reading as I share 5 mistakes you are making with your budget and how you can fix them.
1: Not reducing your bills
I have spoken about this many times before but reducing your bills is the best way to start.
Start think about subscriptions you can remove from your budget or ways you can reduce your household bills, remember to use comparison sites and cashback sites to get money off your purchase.
Just recently I renewed my car insurance and using a comparison site I got £254 off my total bill.
2: Not having someone who you can talk to
Having someone in your life you can talk to about your journey is the best thing! This doesn’t have to be someone from your family but it can be a friend or if you are like me a community on Instagram. I talk to hundreds of people each week who are going through the same things I am and its great to have people who understand.
My boyfriend is someone who I talk to about my savings journey as he understands due to him being on the same journey. He helps me keep track of my savings and also keeps me motivated when I loose track.
3: Not using a budget planner
Not having a budget planner or some kind of budget tracker means you are going to struggle to keep track. I keep the details on budget in my budget folder, I do this as I use the Zero-based budget method which allows me to keep me on track. Check out my blog post where I share different budget methods.
4: Not using the sinking fund method
Having sinking funds is the best way to save money, as you can save money for different events and occasions throughout the year.
I have many sinking funds that I use throughout the year, saving a little bit of money towards something each month means you have the money there.
So try and incorporate sinking funds/ cash envelopes into your budget.
5: Not starting a side hustle
Starting a side hustle even if that is as simple as selling your unwanted items online is a great way to save some money.
When people start a debt pay of or savings journey they often start a side hustle, this is so they can use the extra money to help them.
For my side hustle I answer surveys, market research, selling online and one day I would like to turn this into a side hustle.
I hope this post has helped you find 5 easy ways you can fix your budget!