We often tell ourselves that we are trying to “stay within budget” but most times we are just throwing this statement around since many of us don’t have an actual budget. By not budgeting you are more vulnerable to not being able to properly manage all your expenses.
“Staying in” has become the new norm and while you might think that you are saving more, it is still quite likely to overspend during this time. This is because you may be ordering more take out, doing more shopping online, or buying more groceries, cooking gas and other household items. Without even realising it, these spending habits can cut into your money for other expenses, and before you know it you could find yourself coming up short.
You can better monitor your spending habits by creating a budget to guide how you spend your money on a weekly, monthly or even a yearly basis. It is your guide as you navigate a life filled with necessities, wants and the ever-present urge to spend.