"Chris, how do you budget your money"!?!? I get asked this question all the time! Actually the REAL question I get asked is.. "Chris how do you budget your money and you never seem to have a job". LMAO! I was recently out to brunch with my best friend and she (and others insisted!) that I do a lifestyle post on how I manage my money, especially since I was laid off from work recently. Honestly Im obsessed with paying bills and I always find a way to make money even if I don't want to. Money is such a heavy topic and its personal for everyone. I, like everyone have to budget and save but lets face it, who doesn't like to spend money?!?!? ::happy person raising one hand emoji::
These 5 tips below are my tried and true ways on how I budget my money and how I make it werk!
Tithe - Any amount of money I get, I tithe 10% to God. Tithing is something I grew up on and grew up doing, and I continue to do as an adult. Tithing is a personal choice but I know a lot of people that tithe. For me, tithing makes me feel amazing and beyond blessed.
I Give It Away - Giving is amazing. I swear by giving. They say the more you give the more you receive and I 100% believe this. I know its difficult to give away money when you barely have money yourself but I make sure to give away more than money. I give my time by helping friends or doing things for people wholeheartedly. When Im dining at a restaurant, getting my hair and nails done, or just simply letting someone keep the change, I make sure to tip when and wherever I can. I literally give money away and never expect it back in return. Thats the thing about giving; give because you want to and you want to make someone else's life better. When you give wholeheartedly you will never be without.
Bills, Bills, Bills - I might be the only person in the world that loves to pay bills. A couple of years ago when I was unemployed longer than expected, I developed a bill paying system for myself that I still use till this day. I pay all or majority of my bills the first week of each month. This leaves me the rest of the month to have "free money". I always pay my bills and I never skip a payment. I make it a strict habit to pay my bills on time or before there due date and I also pay over the minimum balance. I only pay the minimum when I am unable to pay more. I try to keep a good standing so when and if ever I do need to pay only the minimum balance, its ok. Also I make sure my bills are paid before I sit at any restaurant table and if I cant dine out that evening with friends its ok. I know my bills are paid and its only temporary.
Load Up The Automatic - Everyone knows a savings account is important. Because I love spending money, a few years ago I connected a Capital One Automatic Savings Account to my bank account. Im not one to manually move money from one account to another on my own (I will spend it, duh) so every Friday I have money automatically taken out of my bank account to my savings account. I use this account to just save money in general and my back up for when I need to hold money out of my sight (because again I will spend it). No matter the amount of my monetary stream, whether I am working or unemployed I always have money put in this account.
$100 Life - I tend to process monetary things in increments of $100. Back when I was unemployed, I noticed that an even $300 would go farther than say $265. Think of it as, if I have $300 and I pay $100 to each of my bills... Im paying 3 bills at once, versus 2 bills if I have $265. As they say you come up with a lot of things when you are trying to stay afloat and I developed this system. I also always make sure I keep $100 for myself. Your going to pay bills for the rest of your life and who wants to constantly feel like all their money goes towards bills?!?!? By allowing myself $100, I treat myself to whatever I want, whether it be getting my nails done, brunch with my friends or a new bag.
Im Thankful - Point blank I am thankful for my money. Whether a small amount or a large sum, I am thankful to just have money. I also always keep in mind that my financial life will NOT be this way forever and I NEVER take more than I need. Im thankful for $5,000 the same way I am thankful if someone gives me $10.
How do you budget your money?