Budgeting For Success While Having Fun

It’s important for us to budget to achieve financial stability and reach our goals.

Budgeting doesn’t mean we still can’t have fun because we can place fun in the budget.

Mindset Shift

It starts with mindset. We don’t look at budgeting as a restrictive practice.

If we budget the right way, it could put us in the best situation possible and that’s getting to financial freedom.

Stay positive and be aware of where every dollar goes.

Assessing Your Finances

Take note of the source of the money and how much.

Make a list of expenses that are fixed such as every expense tied to

where you live such as your house, electric bill, phone bill, and all that.

Then, look at variable expenses.

Calculate the total. See what is no longer necessary and get rid of it.

Goal Setting

Get a detailed view of what your short-term and long-term goals are.

Place money where it needs to go in each type of goal.

Balance what you save and what you spend on the things you enjoy.

Create Categories

Dividing your budget into categories gives you a visual representation of where your money is, then place appropriate amounts for each category.

Prioritize Fun

Dedicate a budget for the things you enjoy. Explore cost efficient alternatives for fun activities.

It is important to plan for enjoyable experiences, so we do not hate life.

Track Expenses

Take notice of the spending in each category of your budget.

Use budgeting tools or apps like NerdWallet or Mint.

Use the real-time data to make adjustments.

Embrace Creativity

Some ways I like to have fun without spending much is cooking at home,

riding a bike, taking a walk, listening to podcasts, physical training (no gym necessary).

You may like to do none of these, so you will have to think of your own creative ways to have fun.

Last Thing

In review, set short-term and long-term goals, identify sources of money,

make categories starting with fixed expenses.

Set amounts for each category, make room for fun.

We love hearing from our readers. Share your budgeting tips or experiences here or on any of our other media outlets.