Budgeting can allow you to have more money in the areas which are important to you. If you are wanting to save some money for a holiday, or to purchase something, then saving money is the best way to do this. Here are some ideas for saving money:
50//30/20 rule - this is where you spend 50% of your income on your needs, 30% on your savings, and 20% on your wants
In a partnership, to spend one persons income on living costs and then the other persons income for investing and saving
If you're alone, to live off of your side hustle and save your 9-5 income
If your side hustle isn't generating enough to do number 3, then to live off of your 9-5 income and to invest and save your side hustle money
Pay yourself first - This one is my literal favourite. This method uses the idea that your savings and or investments are a 'fee'. This works so that your mind is like 'ok I have to pay $50 in to my 'bill' (savings) account. Its all in the mentality....
Decrease your expenses or increase your income
Stop going on date night until you can afford it - or, go on cheaper dates!!
Save spare coins - If you really do not have spare cash each week to put away, start small. This can be as small as saving coins in a container until they add up. Remember, every cent counts.
Stop buying lunch at work! This is one of the biggest money thieves!!!! Every day you spend $10-$20 which adds up to $50-$100 a week and then you say that you can't afford to save?
Then on to budgeting. I like to budget every single cent. This means that every dollar has somewhere it needs to go, and every dollar has a job to do. Whenever I'm making a budget, these are the things I like to do:
Create a list of my income streams
Create a list of my expenses
Put these lists side by side
Add each list up and take a look at the difference
If I have more expenses than income, then I need to work on either increasing my income or decreasing my expenses.
That's it! It's that simple.