I need to budget

nkkingston

Envelope method can help you stick to a method if you're happy having a lot of cash about. If you know what your monthly food budget is, withdraw that once you've been paid, put it in an envelope, and only spend that money on food. When it runs out, stop buying food - if you've screwed up, you're probably going to end up having some slightly weird dinners until the next month (beans on toast gets dull by day four!), but it'll make sure you don't do it again. Do the same for all your budgeted areas, and be strict with yourself about not pinching stuff from one envelope to pay off another.

enthusiasticsaver

Draw out enough cash for the weekly food shop and then when it runs out just use up what you have in your fridge, freezer and store cupboard. I only buy enough fruit and veg, salad for about 3 days and buy twice a week to avoid waste. Same with milk and bread. Everything else I get creative about. So we have had spaghetti Bolognese using veg instead of meat and tomato soup or fresh tomatoes instead of a pasta sauce or tinned tomatoes.

Another thing to keep an eye on is cash withdrawals for day to day spends -ie bus fares, school dinners, coffees, newspapers etc etc. Limit yourself and OH to one a week like the food.

Another essential budgeting tool is the emergency cash fund for you to use if a real emergency happens - ie house or car repair or if washing machine breaks down etc. Allocate a certain amount to this every month and build it up. Same goes with separate funds for holidays/entertainments, gifts/xmas, insurances and car tax/tv licence, car service etc (one offs in year). Some people use pots or envelopes. I use savings accounts.