Thursday 22 February 2018

How To Manage A Monthly Budget

The end of the month can drag, literally drag especially if you are paid at the end of each month. You can find yourself living on the bare minimum and just about surviving until payday on a ration of variety flavoured noodles, all because you've overspent on that new shoes, coat's for the kids and yourself or after a long weekend of partying or finding that the pesky boiler has broken down and needed replacing, therefore, leaving you a bit strapped for cash and not budgeted properly for the month, don't worry it happens to the best of us.

We've all been there no matter how much we deny it openly, but admit it only to ourselves we didn't budget properly (quietly in one's mind). We need to take charge and sit down and go through and make a monthly plan as painstakingly hard as it can be to go through, it can be so rewarding at the same time.

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In order to take the first steps to budget properly, we need to understand where our money is going.

Ohh this is great, not gonna lie I love my little envelopes, once I've paid all my major bills, rent and nursery fees and calculated my monthly travel fees and topped up my oyster,  I like to divide up a number of things envelopes and label them, with items that we will need for the month, food, entertainment, pet etc. It's a great way to not overspend and allows me to only use my card in an emergency.

BYO Lunch
Waste not, want not, a great way to save a bit of cash, is by bringing in your own lunch, use last nights leftovers to make a healthy salad or sandwich. Prep from the night before, to free yourself a bit of time in the morning, to get other things done, before you leave the house.

Free Work out
Pop the gym on hold, there are so many ways you can work out for free, be it a gym park, a brisk walk to get the kids to school, running home once you've dropped the kids home, to working out at home whilst watching free YouTube works outs.

Another great way to budget for the month, is having a little savings pot, great for seasonal changes when the boiler brakes down, but perfect for saving for that summer holiday, so we can get our swimming costume on and sip sangria's in the sun, to having some cash set aside for the kids parties and weekend activities. 

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London Mumma xx

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