10 top budgeting tips

Budgeting effectively is a great way to help you save money. Here's 10 tips to help improve your budgeting.

Top 10 Best Budgeting Tips

1. Have a plan

Utilise bank resources like apps or online calculators to map our your expenditure, budget accordingly and find earning prospects such as high-interest accounts.

2. Direct debit

Setting up an automatic transfer into your savings account is a great way to regularly save an amount of your pay when you're on a budget.

3. Buy in Bulk

This will save splashing out cash here and there on a weekly basis and minimise the long term cost of essentials like toilet paper.

4. Fill your freezer

Find the time to pre-cook and freeze meals. You'll be prepared to ward off the easy temptation to eat out.

5. Pay with cash

Taking out a set amount of cash for the week will encourage you to only spend what you have in hand. If your allowance of cash won't cover it, don't buy it. Just check that the places you shop are still accepting cash.

6. Cut the habit

Whatever your regular purchase tendency is - buying daily coffees or cigarettes perhaps, stop or at least reduce this habit and the cost. It adds up.

7. Have a piggy bank

Put coins in a piggy bank when you break a note. It isn't that easy while budgeting but it will stop loose change spending habits and set aside a cash savings fund.

8. Public transport

Consider other, cheaper transport options. Your petrol and parking could be reaching around $100 per week.

9. Use coupons

You'd be surprised at the number of money-saving coupons available for the things you usually pay full-price for, especially online. Look out for these and rewards cards at supermarkets.

10. Over-budget 

By over-budgeting your expenses even set costs like monthly rent, you will find yourself left with additional money at the end of the week that can be saved.

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