Saving money can be a daunting task, especially when trying to adhere to a strict budget.
However, for those unsure of where to begin, financial blogger and Instagram user Beth (@budgetjonesdiary_) has revealed her straightforward method to rejuvenate your finances.
Beth is a certified accountant with a mission to assist individuals in saving money and “ditch their debt”.
In a recent post, she outlined six easy steps that provide a solid foundation for saving, budgeting, and future planning.
Beth breaks down these steps into manageable “bitesize” chunks:
Take stock
Consider this as your starting point, then contemplate your desired destination and the route to get there. Jot down things you want to start, stop, and continue, reports Wales Online.
Set your goals
Segment these into short, medium, and long-term objectives and be very specific. Money is a tool to help you reach your destination, but what exactly is that destination?
Create a budget
Assign a purpose to every penny (if possible). Start with your income at the top, list your expenses below, and whatever remains is yours to allocate to the goals you established in step two.
Plan of attack
This will serve as an extension of your budget. A concrete plan you can refer back to each payday.
Whether it’s for debt repayment, saving, or something else, outline what your journey will look like.
Automate where possible
Take the emotion out of it and let the tech do all of the hard work. Whether you’re sending a fixed amount to your investments or simply switching on roundups for your savings, every little helps.
Education is key
You may need some advice or further support and there are lots of resources online to help you so definitely nosey around for what you need.
But the learning never stops, it’s about continually improving upon what you already have/know – books, podcasts, ‘finfluencers’, they all get you thinking about how to improve your finances (which is why you’re here now).
