The most important thing in budget management is not to procrastinate but start acting right away. A good habit will gradually enter your life, and it will become easier to stick to it.
Seven-day rules
Day 1: First of all, you need to install an expense tracking application on your phone or write down all the expenses in a small notebook at the end of the day. Even if you have everything under control, and you know approximately what you are spending money on, the results of a more specific calculation of expenses may be appalling. Therefore, the first task is to calculate your expenses for the last month and divide them into sections, for example: food, transport, utility costs, vacation, gifts, medical treatment, etc.
Day 2: Set a goal - what you are saving up for: for example, your own small business, children’s education, new car, travel, etc. A well-defined goal motivates better than just aimless accumulation. You can regularly return to your financial goal, visualize it, recalculate money and revise tasks depending on relevance and your needs. In any case, it is desirable that the accumulation and your goal be a long-term strategy, that is, for at least 2 years.
Day 3: Calculate in which months over the past year you have had the maximum income, and what is the reason for this. Also remember in which month you had the minimum income, and whether there is a risk of repeating this situation. After analyzing the situation, think about which actions you should give up, and which ones have already given a good financial effect.
Day 4: Monitor the daily spending that goes unnoticed. See what else you are wasting your money on and how to prevent it. Maybe your bathroom faucet is leaking, the lights in your living room are always on, you're monthly charged for a landline phone you don't use. Review the tariff for mobile service, home Internet and cable TV, perhaps there are more economical options.
Day 5: Now that you have a clear picture of real income and upcoming costs, think about what bad financial habits you can give up. You can start with one small habit a week, then add more and so on. As a result, over time, you will get rid of at least the main "munchers" of your family budget.
Day 6: Do some general cleaning! It is advisable to write down your personal menu or the menu of your entire family for the whole week. Since few people have the strength to cook in the evenings after work, we suggest making preparations on weekends and freezing them. Along with such planning, you will have to go through all your cabinets and racks to check the availability of certain products. The same goes for spending on clothes, household goods, and so on. It is worth conducting an audit in your wardrobes, cabinets, pantries. You will get rid of trash and everything unnecessary.
Day 7: Habit training is a long and complex process that requires positive reward and a regular error correction. At least once a week, have a “date” with your money. During this an-hour-or-two meeting, shake up all your wallets and piggy banks again, count all the money and bonuses on your cards and on deposit, write down the final figure in a notebook or in your phone notes. Also write down all your expenses, including loan payment; review receipts, which should always be kept and should not be thrown away immediately after leaving the store. See where you made a mistake: unreasonable expenses, for example, you had to spend money in a canteen or café or buy a lot of different little things, etc.
Next, draw up a new financial plan taking into account all the shortcomings made earlier. And the best part - calculate how much you have managed to save. Transfer this amount to a deposit or put it in a piggy bank.
