Monday, 20 August 2018

The Budget - how to make one, and how to stick to it??

Right, I need to set myself a budget. I have been a tad reckless these past weeks - on things I actually needed mind you, but even so, I need to put the reins on again.

I know where I am with my balances, I just need to make them stretch a little further each month. So how to you make a realistic budget and more importantly, how do you stick to it?

My plan is this :

Work out the incomings and outgoings as accurately as possible, so I know what I have left to play with. From that, see where I can trim down. Can I reduce the outgoings? Can I increase the incoming? If the answer to those questions is no, then I have my budget.

However, what I then want to do, with what's left, is save some. I need to work out how much I have to spend each month on treats, then set a realistic amount to squirrel away. I need to work out what I do with the disposable, and then make sensible choices.

I intend to start to shop around more for deals, use coupons etc.. and go to the best place for each item. I tend to just use the same supermarket, but I've come to realise there can be quite a significant difference if you shop around a bit.

I am also intending to bulk bake some of my go to favourites. Then I don't end up chucking stuff away as there is always too much when I buy fresh. Bulk bake and then freeze the portions, that way, its good for the budget and my waistline!!

For the next month, I am not going out for meals either. Practically hemorrhaged money this past few weeks going out for meals. Back on my diet now, so also keeps temptation at bay!!

I'm sure frugal types out there have this sussed, and I'm not terrible with money. I just sometimes go a little spend happy on the plastic, so time to pull on the brakes now.

The target isn't that huge. The target for this particular endeavour is in the region of £4K. I'm hoping with careful planning and actually thinking what I'm doing that I can make a dent in that quickly.

Here goes :)