Posted by on Jul 21, 2015 in Financial | 0 comments

Someone praise me for my brilliantly cleaver titles! No? Really? Rude.

Moving away for your disdain for genius, let’s talk about something that is really smart: managing your money properly. I am normally tighter than the thriftiest Scot with my money, and at any time I can tell you how much I have in my wallet and bank account, but that is just my personality, and I am very consciences with my finances and where money goes (*cough* the bar *cough*).

However, I didn’t actually follow a budget that I had set in stone, so with this month being National Savings Month, I decided to gooi some numbers into one of those fancy Excel docs. You know, like a pretend adult would do.

HOLY CRAP ADULTING IS DIFFICULT. There are some expenses that you just don’t really pay much attention to, but they really start to add up once they are down on paper <- specifically toilet paper! A really good bit of advice that I got from Ben, (the man, the legend), was to plan out a budget for Jan to Dec and plan each month out. There are always those sneaky fuckers that come around once a year that normally accost your wallet and stab it before it even has a chance to defend itself – such as car services, trips to the dentist, doc etc. Here are my 5 tips to helping you budget

  1. Set aside retirement savings first – no R100pm isn’t going to cut it, but it’s better than nothing.
  2. Set aside savings every month for a rainy day/unexpected expense.
  3. Plan your budget for a year at a time, rather than a month at a time – don’t forget the once off expenses and filter those bad boys in!
  4. Create a separate bank accounts/saving pockets/investment accounts for your savings/investments and don’t touch them unless desperate – no desperate for a tequila doesn’t count
  5. Budget in sufficient entertainment/holiday funds so that you live within your means monthly so that you can still enjoy yourself & experience new things

Bonus:

  • Pay your subscriptions for the year in full as you normally get a discount!

Don’t forget about some of those once off sneaky costs such as:

  • Dentist
  • Car service
  • doctors visits
  • Magazine subscriptions
  • gym memberships
  • New sport equipment & shoes

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