When you live in a country where the national savings rate is frighteningly low and consumer credit is what drives the economy, you really need to focus on saving.
I’ve been keeping a budget (PearBudget) fairly well, however there are times where I tend to spend over budget and I don’t really see that until I enter my receipts and see the totals. So how do I stay on budget? It’s something, for some reason, I had never thought of before: Write it down.
My budget is divided into five “irregular” spending categories (food, needs, auto, entertainment, misc). What I do now is see the remaining amount in each budget category and write it down! I keep it in my pocket or iPhone and can reference it to determine whether I can buy whatever it is I want to buy. This way I’ll have more of a real-time view of my budget wherever I am–and update it periodically.
>> Read more about American debt, saving money, and open the Thought Press money drawer
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