Fortunately, with some simple ground rules and the help of an app on your smartphone or tablet, you can manage your budget effectively. Attention, here they come!
Calculate Your Monthly Budget
Your monthly budget is the entirety of your monthly income and expenses. Simple, isn’t it? Yes, but to properly manage your budget and bills, it is essential to reduce everything monthly. After all, certain costs are charged per trimester, others annually: insurance, land registry, vacation, child benefit, student housing, and subscriptions. On the other hand, there are also unexpected expenses, such as household appliances and costs for your car.
Determine What is Important
Once you’ve set your monthly budget, we recommend organizing your expenses according to your needs. In general, we use three categories for this: primary needs (food, drink, heating, clothing, and insurance); secondary needs (telephone, internet, sports subscription, car, cultural subscription, travel); in short, everything that contributes to your development as a person; the tertiary needs (luxury travel, convertible, unnecessary pleasures) each of us will organize things differently.
Force Yourself to Save
Unexpected circumstances have a nasty habit of being unpredictable. Do you want to avoid a minor car accident? Or your faulty washing machine immediately puts a damper on your budget, or do you want to set aside some money for a trip or work at home and arrange a fixed monthly transfer to your savings accounts at the bank? Every dollar per month counts. And every euro will be more than welcome when you need it.
Use a Good App
And how do you put all this into practice? Our advice? See what they have to offer by typing “review” before the name of the app you’re interested in. Then download the app that is most suitable for managing your accounts. The advantage of these new tools is that you only need to enter a few things daily to get a real-time picture of your budget once the fixed income and expenses have been entered. This way, you certainly know where you stand and can always decide with confidence about your purchases and their timing.
Limit Your Shortage
Nobody likes going in the red. Yet it can happen to all of us. Again, a reasonable expense management app will alert you in time. But you can also try to reduce the costs of a whole series of things to get the most out of your money: every year, renegotiate your electricity or gas (or change), your telephone, insurance, and bank charges. You could be pleasantly surprised at the savings you can make this way. Enough not to go into the red or treat yourself and your family to a nice extra. You can, of course, also use the cash reserves that certain credit cards offer you.
Resell and Compare
You often have no idea of the capital sleeping in your closets. Don’t wait until spring to clean up and sell what you no longer need. Speaking of buying: the many online price comparison tools are highly recommended. Numerous websites and apps permit you to collect a nice amount in a few clicks for things you no longer use yourself. And you immediately make room for your new purchases.
We are not machines. Small pleasures and unnecessary things are also part of life. If you learn to manage your finances well, you can afford to have fun now and then without sacrificing a healthy personal budget. That way, life is more fun and comfortable. You feel more accessible when you do something because you do it more consciously. Finally, do not hesitate to consult official sites whose sole purpose is to inform you about financial matters.
Don’t Focus on One Store
We often think that certain stores are cheap and others are expensive. But you can also do excellent budget shopping at the big mart, for example. Just look at what you buy in your cart, and don’t be tempted by A-brands.
Check Your Receipt
Did you receive the discount you were entitled to? How often do I return to the service desk to request a refund? Be sure to check what you paid for products with a discount sticker because they do not have a long shelf life. They are also often forgotten at the checkout.