Household Budget Hacks to Reach Your 2018 Goals

A budget is a road map to planning your fiscal future. As this year is flying by and we’re nearing the final months of 2018, there’s still plenty of time to reach your goals. Test out these eight budgeting hacks to make a great budget and stick to it too.

Make a New Budget Every Month

Each new month brings new expenses, new circumstances and new purchases. Because of this, it’s important to make a new budget every month. Use the previous month’s budget as a template but be realistic about what sort of purchases you’ll have this month compared to last month. For example, your expenses in August, such as sunscreen or school supplies, are completely different from expenses in September, which may include a new fall jacket.  Switching up your budget each month can help you manage everything more successfully.

Set up an Automatic Savings Plan

Having trouble saving money even with a budget? If you set up an automatic savings plan, a piece of each paycheck will go directly into your savings account right as your paycheck hits, making it the first thing you do each month rather than saving what’s left over. Pro Tip: if you set up an automatic savings plan right as you get a raise, you’ll save money without missing it.

Cook at Home

There are many benefits to preparing meals at home. You’ll save money, and improve your diet with healthy, whole food meals. There are tons of simple, inexpensive recipes online that make it easy to cook at home. Since the average American household spends around $60 a week eating out, preparing food at home is one of the easiest ways to save money, be healthier and stay under budget.

Brew-It-Yourself Coffee

Getting a cup of coffee each day probably won’t ruin your budget, but if you’re looking for a way to cut costs in small places, this is a good one. The best way to add homemade coffee to your morning routine, rather than a purchase during your morning commute, is to get a coffee pot with a timer. If your coffee makes itself, all you need to do is pour it in a mug. This saves you time in the morning and makes your commute shorter without the daily pit-stop at a coffee shop.

Take Advantage of Coupons

Using coupons is a great way to say money, without changing your purchase habits. If you love to go out to dinner, sign up for emails at your favorite restaurant to receive coupons and alerts when specials are going on. If you shop at a specific store regularly, join their rewards program. Over time, these savings will add up and make huge differences in your spending month-to-month.

Stay Accountable

Making the perfect budget is one thing, but how do you stick to it? Finding a friend or partner to help you budget can help you reach your goals. Sharing your goals with them and having them check on your progress will bring another element of motivation to your efforts. Plus, they might find solutions or wasted money that you missed!

Budget for Everything, Not Just Expenses

If the budget you have only manages expenses, you will quickly grow to hate it. Plan for fun activities or things each month to avoid budget burnout and help find a balance between bills and your bucket list. Your budget should also align with what matters to you and reflect your priorities. Outsiders should be able to look at your budget and tell what’s most important to you. If they can’t do that, your budget needs work.

Practice and Be Patient

Creating the perfect budget for your lifestyle isn’t something than can be done overnight. It takes trial and error, so be ready for some hiccups along the road. Be patient with yourself, but also diligent. With only a couple months remaining in 2018, there’s still plenty of time to reach your goals if you stay motivated and determined.

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