A Guide to Leveling Up Your Budget

Hey, Gals! Let’s discuss a topic that often feels too daunting to even start. By the end of this post, I hope to empower you to either get started on or recommit to your budget! Whether you’re saving for a dream vacation, planning a wedding, or just trying to build an emergency fund, a solid budget can be your best friend. And budgeting doesn’t have to be boring! Let’s dive into what I did to personally conquer my budgeting fear:

Download a Budgeting App

There’s no shame in wanting to make budgeting as easy as possible! There are some fantastic apps out there designed to help you track your spending and savings effortlessly. Apps like Mint, YNAB, and PocketGuard can turn your smartphone into your own mini financial advisor. These apps all allow you to set goals, track expenses, and you can even set budgeting alerts.

If, like me, you feel it’s counter-productive to add yet another monthly subscription to your docket, check out Google Sheets’ budgeting templates. While I think those budgeting apps are excellent tools, I didn’t think it wise to pay for another app I would probably only look at for a few weeks. Since I use Google Sheets daily for my job, it was easy for me to add the budgeting sheet into my daily routine. Plus, it was free! The only downside compared to the apps is that it’s less automated since Google Sheets won’t automatically link to my bank accounts and credit cards. But, if a little extra work doesn’t bother you, I highly recommend using Google Sheets to track your income and expenses.

Whichever way you decide to track your spending and saving, being able to see your progress can be really motivating to stay in budget!

Use the Envelope Saving System

While old-school, this method is still incredibly effective! The envelope system entails allocating cash for different spending categories (such as groceries, entertainment, dining out and placing that cash in corresponding envelopes. Once an envelope is empty, you can’t spend any more from that category for the rest of the month. It’s a great way to control overspending, especially if you really struggle with credit card swiping blindness, since it makes your spending tangible.

If you just can’t commit to using cash, this method can also be done by keeping tracking of how your savings are allocated. In this case, I recommend also using a Google Sheets template to track just how much of your funds are allocated to which spending category. For example, create a pie chart to track how to allocate your monthly income and how your total account is allocated.

If you find it easier to keep your spending categories entirely separate, it is always possible to open multiple bank accounts. While I don’t recommend opening a new bank account for every spending and saving category, it doesn’t hurt to keep your “fun” money separate from your emergency money.

Make Saving Fun with Challenges

Turn saving into a game! There are tons of saving challenges that can make the process more engaging. For example, try the 52-Week Savings Challenge, where you save a little more each week than you did the last. Start Week 1 by saving $1, Week 2 by saving $2, and so on. By the end of the year, you’ll have saved $1,378!

Another way to challenge yourself is by having “no spend” months, where you only spend money on essentials!

While these may seam easy or trivial, they can be harder than it looks. And it’s less about the difficulty and more about creating the discipline. By choosing habit forming practices, you’ll set yourself up for greater success.

Treat Yourself (Wisely)

I think we all can admit we have given ourselves a few too many “little treats.” But budgeting doesn’t mean you have to deprive yourself of some fun, but it does mean you need to limit how many “little treats” you allow yourself. It’s important to include a “fun fund” in your budget. A “fun fund” is for money specifically set aside for a special coffee, a new book, or a night out with your Gals. By planning for these “little treats” you can enjoy them guilt-free and stay within your budget.

Shop Smart

It’s time to embrace your inner bargain hunter! Always be on the lookout for sales, discounts, and coupons. There are plenty of apps like Honey, RetailMeNot, and Rakuten that can help you find the best deals online. Also, don’t underestimate the power of thrifting! I have found so many cute items for amazing prices by shopping at my local thrift stores. If you don’t have any good thrift stores in your area, Poshmark, Mercari, and eBay all are great resources for discounted second hand items. Plus, thrifting and buying second hand is environmentally friendly!

Automate Your Savings

If you are only to take away one thing from this post, it should be this: Automate your savings. One of the easiest ways to save money is to set up automated transfer from your checking account into your savings account(s). Treat it like any other bill that needs paid each month. This way, you’re consistently saving without even thinking about it. Trust me, after just a couple of months, you’ll adjust and won’t even miss the extra spending money. Out of sight, out of mind, but your savings will grow!

Educate Yourself

Knowledge is power, especially when it comes to finances. Invest some time in learning about personal finance. There are countless resources available from books and podcasts, to blogs and online courses. Take advantage of the many free resources and learn how to achieve financial freedom.

Budgeting doesn’t have to be a chore. With these tips, you can make managing your budget and finances fun, engaging, and empowering. Remember, the goal is to take control of your money so that it doesn’t control you.

Happy budgeting, Gals!

#InvestLikeAGal