How To Budget

I feel like I am an expert at budgeting now since changing my career path a few years ago. I have always been a savvy person but until recently I have not had to be so cautious of what I spend. Now, I have to budget a LOT so that I don’t run out of money each month. I don’t have a massive pay check to live on. Hopefully this will improve in the future but until then I thought I would share my tips on how to spend smart and make sure you know where you are at with how much you have left in the bank each month.

1

Make Monthly Budgets

Every month I make a budget in an Excel spreadsheet detailing what is in my bank, what is on my credit card, what I have in my purse and any future direct debits that will need to come out that month. I then budget into categories such as travel, food, beauty, clothes etc. what I have left to play with. Some months have to be more frugal than others and by writing all this down it really helps me stay on track with my money.

2

Record What You Spend

It sounds really OCD but I record EVERYTHING I spend on my phone and then deduct it from the budget on my spreadsheet when I get home. If I didn’t do this I would have no idea what I had left in my budget. It also makes me think more about buying things and by writing it down I feel more reflective about my spending. If you don’t fancy doing spreadsheets, there are some great phone apps out there that you can use to help with spending and budgeting.

3

Shop Around

More likely than not there will be an alternative shop with a better offer of the exact item you are buying. Shopping online can be a great way of researching those offers. I sometimes find I see something I like in a shop but then later purchase it online somewhere else to save a few pennies. I always google for a voucher code just in case I can find one. Using comparison websites is also a great way to save some dosh such as those insurance and mobile phone bills.

8

Don’t Be Afraid To Say No

Sometimes shop assistants can be very persuasive. Often when we only intended to purchase one item, extra purchases can be tempting. Does this sound familiar? Stand up for yourself and say something like you will add it to your wish list or come back later, if you really hate saying no. It is also so invigorating to stand up and not spend money!

4

Deregister From Newsletter Emails

A lot of newsletters come into my inbox and whilst I’ve kept the key shops I shop at, I have deregistered from the “tempting” ones. Out of sight, out of mind! It really works a treat and you can google for a voucher code anyway if you shop at those shops. Totally recommend it.

7

Plan

Planning is a great way to control things. For example, I will make a meal plan with my boyfriend each week and we will factor in whether we need quick meals some days. Having food in the fridge means no temptation to order those expensive takeaways! And a home cooked meal is often healthier and tastier.

6

Outfit Details…

Shoes | Clarks Brogues

Skirt | Banana Republic (similar here)

Top | Mango (similar here)

White jacket |H&M (similar here)

Bag | Jane Shilton (similar here)

Necklace | H Samuel (similar here)

Bracelet | Next Similar here

Earrings | Pearl Earrings (similar here)

Watch | Radley (similar here)

I hope you enjoyed my tips! I’d love to hear your tips on budgeting… what are your spending hacks?

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12 Comments

  1. 18th June 2017 / 12:19 pm

    This is an AMAZING post! So many good tips! ? I’m off to go and create an excel spreadsheet right now! ??xxxx

    • 19th June 2017 / 10:46 am

      Aww thank you so much! I’m so glad people found it useful! I would totally recommend Excel as a tool – it really helps me stay on track! xx

  2. 21st June 2017 / 9:53 pm

    This is super helpful – thank you for sharing your tips with us! I remember you mentioned how you record all your spendings on your phone when we met up in London and I thought that was such a smart idea! I definitely agree with ‘out of sight out of mind’ – since I stopped browsing Zara and Asos online it has been sooooo much easier to not spend! You look so pretty in these photos as well! <3 xxx

    • 23rd June 2017 / 2:53 pm

      Thank you! So glad you liked it! Hehe, I definitely think unsubscribing from emails is the way forward! Aww thank you, it was such a last minute shoot as well. Maybe, those are the ones to do more often hehe! xxx

  3. 4th July 2017 / 9:28 am

    Love the tips especially the unsubscribing from emails! I’m in between jobs at the moment so have to be super careful about what I spend money on. Thanks for sharing! ?

    • 5th July 2017 / 11:08 am

      Aww thank you! Unsubscribing from emails definitely helps! I secretly enjoy budgeting and it is so satisfying when you can buy something with a discount and save those pennies! ?

  4. 25th August 2017 / 1:45 pm

    Loved this post.

    I also do a monthly excel spread sheet and I swear by it. I love being able to monitor all my outgoings, it makes me feel so much more in control.

    I have also added bank accounts. I now have a seperate account for bills, savings etc so I know how much spending money I have monthly.

    Thank you for sharing

    • 25th August 2017 / 3:27 pm

      Thank you so much for the lovely comment. So glad you love the tips. Yay to spreadsheets! I find them so helpful and I secretly enjoy creating them! Even if one day I earn more, I think I will always do my monthly budgets. It’s so important to know how much money you have in your bank account, even if it is a rough figure. I used to have no idea!

      • 25th August 2017 / 3:29 pm

        I was completely this same. It has only been this year that I’ve finally got my act together. I’m now trying to influence my boyfriend in doing the same. Especially if we want to move in together next year.

      • 25th August 2017 / 3:31 pm

        That sounds a plan! Hope you can convince the bf! Luckily my boyfriend is even more geeky than me with the spreadsheets! He doesn’t do a budget as such but keeps an eye on his outgoings etc.

  5. 13th September 2017 / 9:32 am

    Great tips! Now, can you come over and take my wallet so I don’t spend anything? haha
    Since I’m currently searching for a student job, I don’t have any money, but I’ll try some of these as soon as I do 😀

    xo Honey – blog Royal LifestyleTwitterInstagram

    • 13th September 2017 / 11:48 am

      So glad you found this post useful! Haha, not spending money is the key (although sometimes you have to for necessity and the odd treat). Sometimes I say to myself “could this be cheaper if I bought it somewhere else?” or “do I need it or is it a want item?”. Also, thinking about the small discounts even if by 20p can add up so find shops that are cheaper (such as Lidl and Aldi for food). You’ll be amazed at how much you can save!

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