• Menu
  • Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Fashion Phases

Fashion Phases

  • Home
  • About
  • Lifestyle
  • Traveling
  • Fashion
  • Business
  • Money
  • Contact
  • Home
  • About
  • Lifestyle
  • Traveling
  • Fashion
  • Business
  • Money
  • Contact

How To Set a Budget To Save Money: 6 Tips To Follow

August 2, 2018 //  by Rachel

If you find budgeting for your future a difficult task, simply continue reading to discover 6 tips which are designed to make budgeting a simple task.

How to set a budget to save money: 6 Tips to follow

1. Write down your short-term and your long-term financial goals

You’ll find it far easier to commit to following a monthly budget if you are clear about what your short term and long term financial goals. Examples of short-term goals include putting aside $2,000 for a fun-filled overseas family vacation or saving enough money to purchase a new car. Whilst examples of long-term financial goals may include saving enough money for a house deposit, saving for your retirment or paying off your mortgage.

2. Figure out how much money you’d have to save each month, in order to meet your short-term and your long-term financial goals

Once you’ve written out your goals and given each goal a due date, it’s time to calculate how much money you need to put aside into a savings account in order to meet all of your financial goals by their due dates.

3. Figure out how much disposable income you have each month after you’ve paid all of your monthly bills and living expenses

Your next task should be to figure out how much disposable income you take home each month after you subtract all of your monthly bills and your living expenses from your monthly income. Next, figure out if you have enough money leftover to save the amount of money, which you need to save in order to meet the financial goals which you identified above.

4. Use the money which is left over from your living expenses and savings commitments freely

Any money which is left over, once you’d substracted your living expenses and savings commitments from your disposable income can be used for luxury items such as clothes which you don’t need, movie tickets or takeaway coffees.

5. Consider setting up automatic payments in order to transfer funds from your everyday bank account to your long-term savings account

It’s also worth setting up automatic payments so that every time you receive a work payment a portion of your income will be automatically transferred to your long-term savings account. Which will significantly decrease your chances of being tempted to spend money which you’ve earmarked for savings, on items which you don’t require.

6. Look for new ways to decrease your living costs

As an example, you may be able to decrease your living costs by a significant amount by simply switching the grocery store which you shop at or by forgoing purchasing branded products in favor of purchasing inexpensive generic brands of products. Alternatively, you may be able to decrease your living costs by finding an electricity company which offers you a better deal on electricity, than your current electricity company.

So if you’re looking to set a realistic monthly budget which you can actually stick to, it’s well worth following all six of the helpful budgeting tips which are listed out above!

Category: Money

  • Where do you go when it is time to buy a new dress or a couple of pairs of jeans? If you live in Salt Lake City, Utah, you might pop on over to The Stockist, a trendy boutique popular with the millennial crowd. On the other hand, you might prefer shopping at local department… [Continue Reading]

    Fashion Boutique or Department Store: Which Do You Prefer?
  • Do you require a pair of glasses to see better? It’s not something you’ll necessarily think about day-to-day but it’s a relevant question. You don’t want to find out too late that you failed to see something on the road when driving or realize that you have poor vision that’s holding you back. Here are… [Continue Reading]

    How to Tell When You Need a Pair of Glasses?
  • Keeping your skin hydrated can help you to avoid early aging, wrinkles, and several skin problems. Massaging your face with a moisturizing cream once or twice a day is just not enough if your skin is too thirsty. There are a lot of remedies and tips to reintroduce and lock moisture in your face and… [Continue Reading]

    How To Restore The Moisture Content Of Your Face
  • Vaping is inhaling the vapor from an electronic cigarette or other vaping devices. The vapes are battery-powered devices for smoking or inhaling. The vaporizer’s function is to vaporize a flavored E- Juice, which often contains Nicotine. It is worthy to note that contrary to popular thoughts, vaping has been as far back as the early… [Continue Reading]

    All You Need To Know About Vaping
  • Earrings Earrings are constant when it comes to women attire when going out. It is a must-wear for a woman who wants to appear elegant in a gala event. There are many types of earrings you might want to choose from. What is important is that the earring should blend well with whatever attire you… [Continue Reading]

    How to accessorize for a gala event
Previous Post: « How To Have a Fashionable Garden
Next Post: How To Dress For Business Success »

Primary Sidebar

About Us

Hi! My name is Rachel (right) and I manage Fashion Phases alongside my talented sister Sabrina (left). Just prior to starting our blog, we both took time off work to travel across the world together and stay in many unique places. During this time we both learned a lot about fashion, beauty, and the way of life in each country. Now we have come back with even more of an interest and knowledge in the beauty industry Read More…

Lets Connect

  • Facebook
  • Google+
  • Instagram
  • Twitter

Recent Post

Fashion Boutique or Department Store Which Do You Prefer.jpg

Fashion Boutique or Department Store: Which Do You Prefer?

December 4, 2020 By //  by Rachel

Where do you go when it is time to buy a new dress …

Cat, Glasses, Eyewear, Pet, Furry, Animal, Funny, Cute

How to Tell When You Need a Pair of Glasses?

June 8, 2020 By //  by Rachel

Do you require a pair of glasses to see better? …

How To Restore The Moisture Content Of Your Face

April 22, 2020 By //  by Rachel

Keeping your skin hydrated can help you to avoid …

Newsletter

Facebook

Fashion Phases

Footer

About Us

Hi! My name is Rachel (right) and I manage Fashion Phases alongside my talented sister Sabrina (left). Just prior to starting our blog, we both took time off work to travel across the world together and stay in many unique places. During this time we both learned a lot about fashion, beauty, and the way of life in each country. Read More…

Facebook

Fashion Phases

Newsletter

Connect With Us

  • Facebook
  • Google+
  • Instagram
  • Twitter

Copyright © 2021 Fashion Phases · All Rights Reserved · Powered by Mai Theme