{"id":12571,"date":"2019-12-18T09:17:40","date_gmt":"2019-12-18T09:17:40","guid":{"rendered":"https:\/\/yourlifeassist.co.za\/sizani\/budgeting-tips-for-a-better-financial-year\/"},"modified":"2019-12-18T09:17:40","modified_gmt":"2019-12-18T09:17:40","slug":"budgeting-tips-for-a-better-financial-year","status":"publish","type":"post","link":"https:\/\/yourlifeassist.co.za\/sizani\/budgeting-tips-for-a-better-financial-year\/","title":{"rendered":"Budgeting Tips for a Better Financial Year"},"content":{"rendered":"

The festive season is an expensive time of year, and it\u2019s also an important time to analyse your financial health and take steps to improve it. These five New Year\u2019s budgeting tips will help you to plan ahead and budget more effectively in the year to come.<\/p>\n

Set Specific, Realistic Goals<\/strong><\/p>\n

Think about what your financial goals are, and what you want to accomplish by spending less or saving more. Instead of saying \u201cI want to save more this year\u201d, say \u201cI want to save X amount this year\u201d or \u201cI will put X amount from every pay-check into a savings account this year\u201d. It\u2019s okay to start small and work your way up. Any start is a start.<\/p>\n

Evaluate the Past Year\u2019s Spending<\/strong><\/p>\n

Look over your bills from the past year, and make a note of which months were most expensive and why. Note expenses like insurance, property tax and car repairs, so you can be better prepared for these expenses when they come up in the New Year.<\/p>\n

Set Your Monthly Budget<\/strong><\/p>\n

Use a spreadsheet or online budgeting software to set up a budget for the next 12-months. Include all the necessities like rent and groceries, but don\u2019t forget incidental expenses like new clothing, car repairs or birthday gifts and holidays. Keep track of your budget from month to month, so you can see if you\u2019re overspending in any of these areas.<\/p>\n

Set Up an Emergency Fund<\/strong><\/p>\n

Even with a carefully managed budget, you\u2019re likely to run into unplanned emergency expenses from time to time. Set aside some money every month for an emergency savings fund, to help ensure you are better prepared for unexpected expenses.<\/p>\n

Shop Smart<\/strong><\/p>\n

Here are a few smart tips for more frugal shopping when you\u2019re on a budget:<\/p>\n