Money is tight for many of us right now, but if you\u2019re concerned about how little cash you have in your bank account, it might be time to stop spending so much. Here\u2019s how. <\/p>
As a first step, you should set a budget. But it needs to be realistic, otherwise you\u2019ll simply ignore it and end up no better off.
A great place to start is to go through your bank statements, looking at how much you have coming in each month compared to how much you have going out. Subtract your expenses from your income so that you know exactly what you have left for non-essential spending and savings.
As part of this process, it\u2019s important to look at areas where you might be wasting money. Are there any subscriptions you could cancel? How much are you spending on clothes and eating out? Could you rein this in?
There are several different methods you can use for budgeting, but a popular option is the 50\/30\/20 budget. Here, you divide your monthly income into 3 spending categories:<\/p>
Of course, you don\u2019t have to use these percentages \u2013 you can adjust them to meet your own goals. <\/p>
Life is busy and budgeting isn\u2019t always easy. But luckily there are stacks of budgeting apps out there that can offer a helping hand. These can help you track your spending, suggest ways to cut your expenses or identify subscriptions you\u2019re not using. Some apps will even automate saving for you so you don\u2019t have to think about it.<\/p>
Our budgeting apps guide goes through these in more detail. <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n