Have you ever heard of flexible dieting? To sum it up, it is a “diet” where you can eat nearly whatever you want as long as you meet your macros (nutrition word for hitting your major nutrient objectives each day).
With this diet concept, a dish of ice cream or wine won’t necessarily set you back, because you can compensate throughout the day. It is all about balance, which I believe in fully.
The same concept can be applied to your budget. No two months are the same so I found it difficult to stick to very strict, specific budgets. Simplifying my budget has helped me immensely, and has taken much of the stress out of finances. Here are 3 tips for simplifying your budget.
- Make as few categories as possible. My budget includes the following: Shelter, car, savings, debt, phone, insurance, and spending money. These are catch all categories. For example, I include car payment, gas, and maintenance all in my car budget.
- Create monthly and quarterly goals. Realistically, we all have off months. Stick to a general monthly budget, but I find that a quarterly evaluation of my budget is much more fair and realistic. For example, my December budget is not typical because it includes gifts and travel.
- Try apps like Mint. This automatically keeps track and categories your spending when you link it to your bank account. So easy!