I made a life-changing decision quite recently (more like when my expenses over the holidays went haywire) to be more conscious of my spending habits. This resolution includes but is not limited to the following:
- To actually have a working monthly budget, which I should strictly comply with
- To properly document all my expenses for the month – my salary, savings, expenses
- To mindfully use my credit card when making purchases, and not abuse its power at any one point
Anyway, I’ve been nitpicking a lot nowadays because, well, I’d like to put my hard-earned money to good use. I hope to be able to afford big, relevant things in the coming months (no, not a new additions to my wardrobe). I guess it’s about time I acted like a grown up! (Though I sometimes feel like an 18-year-old trapped in a 23-year-old’s body. This reality I have to face. Sob.)
So I consulted the Apple App Store for possible programs I can use to monitor my savings. Most of them, however, are a bit too intimidating, a bit too serious for me, so I’ve resorted to do things manually.
I now use a spare planner to plot my expenses each day, total them per month, and make sure they are aligned with the budget I set at the beginning of the month. My monthly budget can be computed using the following formula: Budget = Salary – Phpxxxx. Have to start living within my means!
Also, I just want to share this strategy I previously read about. If you so decide to buy unnecessary things without denting your monthly budget, here’s what you can do:
Label a bunch of envelopes with your “wants”. Commit to dropping a certain sum (shouldn’t be too big) to each envelope. And ta-da! In no time, you would have saved enough to buy whatever it is you want without worrying about spending too much (on something you know you don’t really need) on the onset. It’s like a more “clear-cut” piggy bank.
I hope this works for you! Please share other techniques, if you have any =)
Images used were taken from the Internet.