The Single Woman’s Budget
11 September 2012, 17:39
Tips on how to cope financially while still living healthily, happily and enjoying the occasional splurge!
You know you should be paying attention to your finances, but you're not really sure how. Here are some tips that will get you thinking of your financial future.
Try to keep a record of what you get in and spend, even if this means writing down every last little transaction. This will allow you to:
• Identify your spending habits.
• Detect your areas of overspending.
• Save more by cutting down on the unnecessary.
• Make provision for the unexpected.
• Avoid running into unmanageable debt.
Not computer-savvy? That’s okay. Ditch Excel and simply whip out a pen and piece of paper.
aside two amounts each week – one that you’re allowed to spend Mondays
through Thursdays, and another one for Fridays through Sundays.
Keep your slips
At the end of each week, take inventory of how you’ve spent your money.
Don’t buy on credit – Unless you really, really have to and if you know you’ll be able to pay off the debt in the allocated time frame.
Make your own lunch
croissant and coffee in the morning, a burger and coke in the afternoon
and a packet of crisps to snack on? Seriously, people... Not only are
takeaway foods unhealthy, but you’ll be surprised at the amount of money
you can save if you just bring along food from home!
Always have emergency cash
in your car or in a packet in your handbag. This is only to be used in
emergency situations, like when your wheel is clamped or when you need
to bribe a security guard…
Get a piggy bank
Stash all your loose change and you might just save enough to buy Christmas presents at the end of the year, or take that overseas trip.
Save save save
Even if it’s just KES500 a month, saving something each month will eventually add up and leave you with a nice little nest egg.
Still confused? Here’s How to draw up a budget, easily.
Do you have any great tips for saving money and budgeting like a boss? Share them with us!