5 Budget Mistakes to Avoid

You already have a budget. Great! However, is your budget working for as well as it could be? Check out these 5 budget mistakes to avoid to help tweak your budget and make it even better.

If you’re living paycheck to paycheck, you probably know how important a budget can be. Unfortunately, many people are making budget mistakes that make it hard to see a light at the end of the tunnel. The good news is you can avoid these mistakes. Whether it’s not leaving a buffer in your budget or not tracking what you spend, there are budget mistakes to avoid.

Not Leaving a Buffer

You always want to leave a buffer in your budget for the unexpected. For example, if you’re setting aside a budget for weekly groceries, leave a 10% buffer when making your shopping list. This allows you to grab a great deal that wasn’t listed without pulling money from somewhere else in your budget. When you sit down and look at your expenses, you really want to have at least 10% of your income that isn’t assigned to an expense.

Not Paying Yourself

Another budget mistake people make is to put all their money towards their bills, but not leave any money for themselves. You want to have money that can be spent on something you want each week (if you can manage it in your budget). Adults need play money. We work hard for our money and when we don’t use that money to buy something fun, it feels like we’re working hard and aren’t having any fun. Always pay yourself.

Not Saving for Emergencies and Retirement

You want part of your budget to be set aside for emergencies and for retirement. When it comes to retirement, you want to match anything your employer will contribute. If you’re self-employed, you want to make sure you’re putting back as much money as you’re allowed each year. This will not only give you money towards the future, but also lower the amount of taxes you pay each year. When it comes to emergencies, you want an account set aside to take care of any emergencies that may come along. If possible, place 20% of your income into an emergency account.

Not Tracking What You Spend

You always want to track what you spend. This will give you an idea of what your money is going each month. Assign a category to each to expense and add them up at the end of the month. This can be a real eye opening experience.

Not Cutting Unneeded Expenses

Once you’ve tracked your expenses for a while, chances are you’ll see areas where the money is going to waste. For example, it might be a morning coffee that costs $5 or a large satellite package that costs $150 a month. There are ways to enjoy the things you love without spending as much money. For example, you could get a Roku and cut your entertainment budget drastically.

A budget is a must for any family that feels as though they don’t have enough money left over each week. While it can be hard to create the perfect budget, there are mistakes you can avoid so that your money goes a lot farther each month.

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HGTV-Magazine-Summer

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Cheap Kindle Book: The Sweetest Rain for $0.99 (93% off)

The-Sweetest-Rain

For a limited time, you can buy The Sweetest Rain Kindle book written by Myra Johnson for only $0.99 (93% off) from Amazon.

About the book:

As the drought of 1930 burns crops to a crisp, Bryony Linwood dreams of cooling winter snows and the life she would have had if Daddy hadn’t been killed in the Great War and Mama hadn’t moved Bryony and her sisters to their grandfather’s struggling tenant farm in tiny Eden, Arkansas. Now Mama’s gone, too, and as times grow tougher, Bryony will do whatever it takes to ensure her family’s survival.

Michael Heath barely survived the war, and twelve years later all he wants to do is forget. A virtual recluse, his one passion is botanical illustration. Lost in the diversity of nature’s beauty, he finds escape from a troubled past and from his wealthy father’s continual pressure to take an interest in the family plantation.

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Between the FREE books from Amazon and Kindle books I’ve checked out from the library, I’ve been having so much fun reading on my iPad.  I really thought I wouldn’t like not having a physical book, but I love it.

If you’re interested in Kindle freebies, you can check out the current FREE Kindle books.

FREE Kindle Book: Beginnings (Sommerfeld Trilogy Book 2)

Beginnings

Right now, you can download Beginnings (Sommerfeld Trilogy Book 2) Kindle book written by Kim Vogel Sawyer for FREE from Amazon. About the book: Beth Quinn is struggling to find a place to belong in the Old Order Mennonite Community of Sommerfeld, Kansas. When she starts a business designing … [Continue reading...]

Printable Coupon: $3 off Aveeno Sun Care Product + CVS Deal

Aveeno-Sunscreen-Lotion

There's a new printable coupon available for $3/1 Aveeno Sun Care Product that you can combine with a B1G1 50% off sale at CVS this week to get a good deal after all discounts. Deals available this week using the coupon include: CVS: Buy (2) Aveeno Protect + Hydrate Sunscreen Lotion SPF30 … [Continue reading...]

Dove Cream Oil Shea Butter Body Lotion (13.5 oz.): $4.04 + FREE Shipping

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