How to Stay Within Budget in 2015

The first month of the year is not yet over but many people have already complained about their finances. This is no surprise because staying on budget no matter the month of the year is a difficult feat to achieve. But it's not impossible either. At the end of the day, it's all about taking advantage of money saving tricks and hacks that will work for your situation.

Here are simple and surefire money-saving hacks and tricks that may help you:

Save up for a rainy day

Before you can craft the ideal budget for your needs and based on your financial situation, you need to prioritize savings first and foremost. This is an old advice but many still fails to do it. You need to prioritize saving for a rainy day if you want an excellent financial outlook for the rest of the year.

Aim to save up an emergency fund that amounts to at least months' worth of your expenses. You can do this by setting aside 10% of your monthly pay check for savings. You can start small if you can't manage 10%. In any case, the key is to set aside your savings first before making the budget.

Write it all down

After taking out the monthly savings out of your pay check, the next step is to write down a budget plan. List down all your expenses including the necessities and luxuries then allot the respective amounts on each item. To stay within budget, the trick is to set a reasonable range on each item then stick with it for the entire month.

And don't stop with just planning your expenses in advance. As you spend money for said month, you need to write down everything including the actual amount so you have basis for comparisons whether you were on point with your budget or not.

Go out less

To help with your savings and staying on point with your budget, you might also want to develop the habit of going out less. You may not realize it yet but eating out twice or more in a week can be expensive. Rather than spend money on eating out, you might want to stay home and enjoy a home cooked meal with your family instead. If you can't help but go out, you can simply lessen your expense by ordering less.

Plan your shopping

According to statistics, majority of people often overspend on their groceries especially because most people don't spend time planning their meals in advance. The solution, therefore, if you want to save on groceries and stay within budget is to play your shopping and meals before hitting the supermarket.

Use Cash Whenever Possible

Since you already have a budget, the best way to stick with it is to use cash whenever possible. Even better is if you can allocate the cash separately and keep them in individual envelopes. Bring only the envelopes which you need whenever you're going out so you'll have no other choice but to stay within budget.

Use Credit Card with Caution

While sticking with cash is one of the best ways to stay on budget, you also need to have a credit card handy for cases of emergencies. Just make sure that you use these sneak plastic cards with caution. If you're just applying for one, try to find a credit card option that has the lowest rate and that comes with helpful bonuses.