Let’s face it, budgeting burdens can be a monarchical ache in the posterior region. No matter how much we say it should be done to keep track of expenses and reduce debt, we’re not the ones performing the daily or weekly record keeping — you are. This means taking time out of your busy schedule to fill in categories, pay bills, and maintain ongoing record of ins and outs.
It’s definitely on the downside of exciting; however, it needs to be done in order to feel financially secure. You just wish there were things you could to do ease the burden. Well, there are, and while we can’t do the budget for you, we can give you some tools to reduce the pain. Below are a few of those examples.
Direct Deposit. We start with one of the easiest methods — signing up for direct deposit of your paycheck. Sure, getting paid is a little exciting, but waiting in a large bank line to deposit the money isn’t at the top of your list. Allowing your pay to be directly deposited into your account allows for the cash to be there without waiting for check clearance, In addition, some banks allow customers to set up alerts when the money is available. Just one caveat — make sure your company offers a direct deposit program.
Automatic Bill Pay. In ancient times, the late 20th century, people needed to spend hours writing checks to the mortgage holder, credit card company and various utilities to pay monthly bills. This is no longer the case as many companies now allow their customers to set up automatic bill pay, which removes the amount owed at the time it’s due. There are some companies that allow the setup of a recurring payment. This allows the customer to just make sure the money is available each month.
Budget Billing. One of the problems connected with utility bills is their fluctuation between seasons. In winter the gas bill is higher than the electric, and in summer it’s the reverse. You wish there was a way to pay a set amount each month. Budget billing allows for this. To get the appropriate number utility companies average out the last several bills. The result is a set cash amount that’s paid every month. Customers who pay too much each time will get a reduction in cost at the start of the new year.
Meal Planning. Determining the amount to spend on groceries can be the hardest part of working the budget. It always seems you add too little to the category, which causes you to go back to the supermarket for unscheduled purchases. One way to prevent this is to set up a meal plan either on your own or through an app like Plan to Eat. Doing this ahead of time and sticking with the program allows you to purchase only the needed items for a budget period.