How to set up a budget to save money in 2020
[read this article in Italian, here]
Saving money could be difficult without a real method or a money tracker. I believe it’s very important to have a clear overview of your expenses and income in order to set up a budget to save money during the year. Saving money means having more opportunities to travel, discover places, invest in your dreams or support new businesses.
First of all, it is also important to understand what you really need to own in your life: we don’t use all the things we own, so being able to understand what is necessary for your daily routine is a huge step.
Here you have some tips to try to set up a budget to save money: just remember, it could be 20€ or 100€, the most important is that you know its value and keep it for your projects.
1. Identify your fix money expenses
Rent, public transport tickets, grocery shops, and other essentials: these are you fix expenses, identified as the things you really need in your daily routine.
2. Change some habits in your daily routine
Start with simple actions like having breakfast at home, cooking your own lunch, going to local markets and choosing a zero-waste routine. While you're saving some money, you do something significant also for your self-care and the planet.
3. Decide an x quantity of money you want to save every month: keep this money in a glass jar and use them only for urgency.
It could be 10 or 150, no matter how much you decide to put. Set a weekly/daily reminder for this action and don’t forget to do it.
4. Cut your expenses in clothes and extra things
Always think before you buy something: do you really need another white t-shirt while you have 10 white t-shirts in the wardrobe? Pay attention to fast fashion and low prices: better to spend 20 euros more and use that jacket for the following 10 years, then buy something only for seasonal use.
5. Create a wishlist with all the things you need and divide your expenses monthly.
You don’t have to buy everything necessary in one month, better to divide the expenses throughout the year. Consider buying second-hand clothes for example.
6. Use an expense plan
Both the weekly planner and the bullet and paper book have a dedicated space with a money tracker. It is very useful to fulfil it every month, so at the end of it, you have a complete view of your money situation at that moment.
Looking for inspiration to create your bullet journal money tracker? Inchiostro and Paper is also on Pinterest: have a look here!