Let your savings be your saving and your spending be your spending – Budgeting 101


Have you ever committed to saving a portion of your income, but you end up going back into it to spend?

We have all hit that road at some point. Today we will be discussing how to not spend your saving.

First thing- Make a realistic budget.  You can’t be earning 80,000 per month, your expenses are 60,000 and you want to save 40,000. It’s just not possible. If truth be told it would take an act of God for that to work.

Secondly, try to capture all your monthly expenses when making your budget. Things are often overlooked when persons are making a budget. For example, you will take petrol for your car into consideration but will forget to account for the car wash money. A budget is not something one should make in haste and therefore take your time.

Thirdly make allowances in your budget. It simply means put aside some funds for an emergency. And when I say emergency I mean emergency. Telling me your cat broke a claw is not an emergency (someone actually told me this once).

Fourthly make a comparison between your actual spending and the budget on a regular basis. I don’t mean after you spend all your funds you stare at your budget wondering what went wrong.

Lastly, spend only on the things you need (a massage class is not a need) any excursion should be planned and saved for over a time. Impulsive spending always annihilates the budget and your pocket.


Need help creating your budget feel free to shoot me an email. Shawnakay.mills@financialassistantja.com

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