How to have a stress-free budget

[Holicent]

The best way to have a stress-free budget is to know where your money goes and how much you have. Knowing your spending history is the most important thing you can do. If you don't know where your money is going, it's hard to plan for the future or get rid of any bad habits.
The first step in building a budget is knowing how much money you currently have available. To find this out, subtract all debts from your total assets (such as checking and savings accounts). This will give you an idea of how much cash is left over in your bank account. Next, figure out what percentage of that amount goes towards paying off debt (credit cards, student loans and car loans) and what percentage goes towards other expenses like utilities, groceries and rent/mortgage payments.

Once you know how much money is left over after paying off debts and other expenses, divide it by two or three (depending on how many months until next payday) to determine how much money will be left over for savings every month. I spent way too much money on things that I didn't really need last month and now I'm trying to catch up whiith my bills. I've been using Mint to track my spending, but it doesn't help me figure out how to get back on track. But this method worked; Set a goal for each month (or quarter) of how much money you want to spend. For example, if your goal is $500 for the month, then write down what expenses you need to cut or eliminate in order to meet that goal. If you don't have enough money saved, then look at ways to get more cash flow coming in while still staying within your budget amount.

 

[Jasz]

The best way to have a stress-free budget is to avoid putting yourself in a situation where you will have to pay more than you need to. If you can avoid going into debt, it will help your finances tremendously. Here are some tips on how to have a stress-free budget:

1. Avoid going into debt as much as possible. If you're not sure if you can afford something, don't buy it. This might seem obvious, but many people spend money they don't have just because they want something badly enough. If you find that spending money is stressful for you, save up for it instead of buying it now and paying interest later on when the money is needed more than ever.

2. Make sure that all of your bills are paid on time each month, including utility bills and other expenses like rent or mortgage payments and insurance premiums for vehicles or homes that need upkeep. If these bills aren't paid on time, there's no way around them (unless they're being paid by someone else). You'll need to pay late fees or penalties for not paying them when due; however, learning about these fees ahead of time can help prevent unnecessary stress from hitting your finances later down the line when they're due after the grace period ends.