If you're like me, the word "budget" has very little appeal. In fact, it makes me want to roll my eyes so hard that they get stuck in a permanently crunched position. But if you're smart about it, budgeting can actually be fun—and rewarding! Especially if you budget with the Mooch app and literally get paid to budget. Here are five ways that budgeting will rule your life (in a good way):
The truth is that your finances are in constant flux. You could get hit with an unexpected expense at any given moment--a broken car, an illness or injury, a job loss. And while those things are out of your control, how much they impact your budget depends entirely on how prepared you are for them financially.
So instead of saying "I'll deal with it later," think about how much more comfortable and secure your life would feel if:
The next time you make a mistake, learn from it.
If you learned from the mistake, then you won't make it again.
This is why budgeting is so important: if you know how much money goes out and comes in each month, then there's no way that same amount could disappear without your knowledge or consent--you'll be able to see where it went!
Budgeting is a plan. It's a way to make sure you're spending your money on the things that are important to you, and it helps you save money.
Budgeting can help get out of debt too! When people have a budget, they're more likely to stick with it because they know exactly how much money they have left over after paying bills and buying groceries -- which means there's no room for impulse purchases or impulse eating out at restaurants all the time (which usually adds up really fast). When you use the Mooch app to budget, your budgeted funds are held in the app to prevent you from spending it on these types of impulse purchases.
The first step in budgeting is determining how much money you make, and how much money you spend.
To do this, look at your budget. You can download all your transactions from your bank, or you can manually input them into a spreadsheet, like the ones we have available for free on our website. At first glance it might seem overwhelming but don't worry because we're going to break down each section so that nothing feels confusing anymore :)
If you're saving for something specific (like a down payment on a home), then it's important to know how much money will be needed in order for that goal to be reached. If there are no specific goals, create some! For example: "I want to save $1 million by 35 years old so I can retire early and travel the world." You may also want a general idea about how much money should go into each category so that if anything changes or things get tight financially, then adjustments can easily be made without having any negative impact on other areas of life such as relationships with friends/family members who depend on us financially...
In fact, it can be one of the most fun things you do in your life. There are many ways to budget, including apps and spreadsheets (or pen and paper).
The best part is that you can mix-and-match these methods--you don't need to choose just one way. If you're a fan of apps and spreadsheets but want something more portable for on-the-go use, try using an app that syncs with yours accounts so that all your data is available anywhere at any time. Or maybe pen and paper work better because they're easy enough for everyone involved in household finances? Whatever works best for you!
The bottom line is that budgeting can be fun and exciting. It's about making the most of what you have, so it's important to find ways to make your budget work for you--not against you!