Can you save money by putting a budget? My answer is yes, because a budget gives you an overview of what you are using your money for and where you can save money.
When you are out shopping and standing at the checkout, you always get the question. Should you have the bean with? And by far the majority say no thanks. But it must be over now. Say YES. After one month, you take all the bonuses and open Excel. Then you make columns of food, drinks, sweets, sodas etc. And then figure out what you spend on the different things, I am almost sure you will be surprised at how much money you spend on anything other than food. This is where you can save money.
It gives you a good overview of where your money is going.
Now make a new Excel sheet. For your private budget. With all your income and expenses. You have your numbers from purchases from the last excel sheet.
Some of the things you need to include:
Wage income, unemployment benefits, holiday pay, child allowance, housing insurance, SU, cash benefits, etc.
A-box, trade union, insurance, daycare / nursery / kindergarten / leisure center, childcare, child support for child with other parent, pension savings, housing savings, consumer loans, credit cards, cash credit, medicine, dentist etc., sports and leisure etc., holiday, cinema etc. , museum, concert, etc., cafe, restaurant, disco, etc., grocery shopping, take-away, clothes and shoes, personal care
And probably many other things. Look it all through and get everything with it. You get nothing out of cheating, because you just cheat yourself.
In this way you get an overview of your expenses and your income. Eventually, you should be able to see your profits or maybe a deficit. If it has a deficit, then it is important to find some items where you can save money. Possibly. Take away food or cinema tours, as these are some of the items you can save on.
Save this with a private budget
Insurance and mobile subscriptions can be easily saved on. At least every 2 years, you must check your insurance and mobile subscription for price drops. Mobile subscriptions fall in price all the time, so if you haven’t looked at it then your price is probably too high. It is the opposite with insurance, here you get an ordinary. price increase every year. So here you have to get hold of your insurance company and hear if they can make it cheaper, they say no to it. Then it’s out and get hold of 2-3 other companies and get an offer.
It gives financial peace of mind in advance to have laid a household budget and keep abreast of whether there is a surplus or deficit. If you need a loan, it is also a good idea with a private budget, as one can quickly see what one can deduct with the month.
So a budget is both good and when it is first made it is easy to correct numbers.
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