The word budget terrifies even the smartest of people, viewed as a tedious task bearing bad news and a necessary evil like going to the dentist. What if I were to tell you that budgeting will not only bring you into great financial shape, but can also be fulfilling and even fun. Yes fun, just hear me out. You don’t have to feel dread when dealing with finances if you follow these 6 budget hacks to enjoyable budgeting.
1. Big Rocks Budget.
A well-known metaphor for prioritization is that you want to start filling a jar with the big rocks, then the pebbles, and lastly sand. In the opposite order, there is no room for the rocks. The big rocks symbolize the things that are the most important and apply to budgeting as well.
Scrutinizing the tiniest of purchases is time consuming and takes precious time from more meaningful endeavors, such as relaxing, working out or making money!
Track the big rocks – items like rent or mortgage, car, debt, and other high-ticket spending. For smaller purchases, designate a set cash amount or dedicate a separate credit card and just keep track of the total amount. It’ll save both time and headaches.
Once you have mastered the big rock spending, you can move on to the detailed budget hacks, but you may find you don’t need to.
2. Change your mindset about spending
Spending in the context of budget hacks is not inherently bad and you shouldn’t be judged by anyone for buying what you need and want. What’s critical though, is that the spending aligns with the goals you have for your life. Make sure that your hard-earned dollars are spent on items that are truly meaningful to you.
For example, if you love to connect with friends over coffee, a few pricy Macchiatos at Starbucks might be worth it. On the other hand, if you’re saving up for a car repair you might want to hold off on any unnecessary spending.
You’re the boss of your money. Make it go where it serves you the most.
3. Schedule time for budgeting – One Of The Crucial Budget Hacks
Yup, there’s no getting around setting aside time for budgeting. That way, you avoid being overwhelmed from everything piling up. Pick a time and plan to implement the budget hacks during the week that works for you.
Personally, Sunday evening budgeting brings me anxiety, that’s a time I want to enjoy with my family. Saturday mornings or Friday afternoons, though, work like a charm and make me feel accomplished going into the weekend.
If you remember nothing else from this article, the key to success is setting aside regular budgeting time each week.
4. Make your budgeting session enjoyable
Why suffer through budgeting when we can make it cozy and delightful. We all enjoy different things and there is no one size fits all here, so pick something that works for you to implement budget hacks.
Make your budgeting time special by for example playing good musing, lighting a scented candle, or brewing your favorite tea.
Also, clear the clutter from your workspace, which puts your mind in a peaceful state.
5. Pretty up your budgeting tools
Some of us like cute notebooks and colored pens, some like to create clever spreadsheets, while others enjoy ready-made budget apps. They are all great tools and are a matter of personal preference.
Don’t be afraid to make a small investment in your budgeting setup. You’ll earn it back in no time.
6. Reward yourself and celebrate your wins
Identify small rewards for completing parts of the budgeting process. For example, after completing the January budget, hit the couch with a good book or have dinner with a friend.
After bigger accomplishments like achieving your savings goals, make sure to reward yourself properly. Treat yourself to a spa visit or get the new earbuds you wanted. Your imagination is the limit.
Powerful bonus tip
One of the most powerful ways to progress in any area is having an accountability partner to remind and encourage you.
Find your budgeting accountability partner, for example a friend, spouse or online connection. Find someone who can support you in implementing these budget hacks. Children are actually great accountability partners and don’t need to know budgeting but just remind you when it’s time to get it done, and give encouragement as you track your spending.
Wrap Up
You rule, literally…!
Remember, there is no-one as qualified as yourself to make your budget and implement these budget hacks! You’re in charge, and the time you invest in budgeting, will materialize in terms of more money, more freedom, satisfaction and a more enjoyable life.
