Life on a Budget

Let's face it! Being on a budget is not the most fun experience. You have to cut down on so many things which we never thought would ever be needed. Especially if you are staying away from your parents like we mostly do when we go out for college. There is this limited amount of money given to us every month where we have to manage ALL our expenses and if smart enough, even SAVE for emergencies (this helps a lot!).

It took me 2 years to realize that saving is important, for me it's more important than spending. It makes you feel so much more secure, like even in situations where you have to spend more than your decided amount, it will not hamper your regular expenses. I guess this habit is a part and parcel of growing up.

However, keeping in line with your budget is not always easy, there will be times when you will feel tempted to spend but tying your hands at such moments will save you from the 'post-guilt-feeling', which I have experienced like a gazillion times before; but now, that I know how I can stay in line with my budget, I know I won't be in any serious financial crisis and have to ask for money from my parents way before the time.

So here I am sharing 4 ways of keeping a track on your expense which I swear by.

1. WRITE DOWN YOUR DAILY EXPENSES.

This seems to be the most 'Duh!' thing, but trust me, it ACTUALLY WORKS! What you have to do is maintain a separate notepad and write your daily expense but first you have to set a daily budget, whichever amount you feel is comfortable. Write the date, and then list down everything on which you spent, breakfast, lunch, dinner, cab, anything and then total it, this will help you stay in your line.

2. MAKE A NOTE IN YOUR PHONE.

I am someone who loves physically writing down things, I'm a bit old fashion that way but not all of you might enjoy writing. So here comes our life savers, our smartphones. I feel the only thing that is left for our phones to do for us is breathe! Coming back to the point, you can do the same thing on your phone instead of writing it down somewhere and it will make your life so.much.easier.

3. USE APPS AVAILABLE ONLINE.

There are hundreds of apps available, both for Android and iOS which helps in maintaining your daily and monthly budget and keeps you on track. In fact there are apps which guide you on how much you need to save in your preferred time slot if you are planning to buy a new laptop or a watch or anything expensive. You will be so proud of yourself!

4. KEEPING AN EYE ON YOUR WALLET.

Now, if you are someone who is too lazy to maintain an account on a daily basis, this might just save your day. Estimate your weekly expenses and keep that amount in your wallet, save the rest of the money in a safe place and stick to it. This way you can keep a check on the amount you are spending on a daily basis without having to worry about spending extra.

These are my methods of saving myself from getting broke every time and these methods have helped a loooooottttttttt! I have been doing these since the past 5 months and out of the monthly expense which I get that is Rs.10,000, I am able to pay all my expenses and save in between 5 to 8 percent every month(which is a decent save considering my rent and monthly expenses) which would not have been possible without chalking my expenses.

Hope this helps you and trust me on this, you will be thanking yourself (and me).

If you have any more ways of keeping a track on your budget, comment them down or on my instagram page @theuralway.

Until next time,

Loves & Hugs.