Hi there Smart Girls!
I hope all is well with you ladies and that the 2014 is lovely, thus far. One of my resolutions this year to stick to my budgets as much as possible and make sure I know where my money is going. Today I will teach you my method of seeing where my money goes and how I make sure I end up having more money on my side.
List, Budget, Coupon.
I call it the LBC method. It sounds weird, but it works. I make a list of my expenses each day. At the end of the month, or near the end of the month I evaluate the list and see what I spent most money on throughout the month. Most of the time my biggest expense was food. Sometimes the food came from the grocery store and on other occasions the food came from my school’s food court. A way that I saw my money more was playing with the specials at the supermarket. What I ended up doing was setting up a budget where I would have enough for food, to save and my other miscellaneous expenses. It is really simple. After I had my numbers in place, I would check different coupon databases and newspaper inserts. I would cut coupons for those things that I buy a lot (food, toiletries, cosmetics, and school supplies.) I found that sometimes, it was cheaper to buy the store brand than the popular brand even with a coupon.
Three easy steps and voila! You see more of your money.
1. List your expenses and categorize them. (food, cosmetics, school supplies, miscellaneous, etc.)
2. Budget based on what you spent the month before.
3. Coupon. I cannot stress enough how much this can help and if you do not like coupons…hunt for the sales!
Make sure you note which of your expenses were “needs” and which ones were “wants”. If you have more “wants” than “needs”…well you might want to look into that.
Best of luck!