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- Maximise Your Budget's Impact With This Simple Tweak
Maximise Your Budget's Impact With This Simple Tweak
Your Finance Travel Buddy presents One Simple Step
Happy Sunday fellow Financial Freedom Seeker
Mindset Moment
We’re only human which means we’re susceptible to making mistakes. Reviewing helps prevent the possibility of mistakes being made.
Welcome to our special edition daily budgeting tips
Your One Simple Step today is…
Review Your Budget
Why is this important?
When you have been going through daily steps to create a budget alongside living your life, there is a chance you might have made a mistake somewhere.
That is totally normal - no one makes no mistakes in their life.
In a company, you usually have a manager to review your work which helps a fresh set of eyes spot any inconsistencies or errors.
You can ask a friend or family member to review your budget or you can do it yourself.
If you’re doing it yourself it’s worth waiting a day after you have made it so you have a fresh set of eyes.
This will help reduce mistakes in your budget, which in turn helps you achieve the goal set out in it.
How do I implement this?
1. Give yourself space
Once you have just finished creating your budget you are deeply in thought about it. This is not the best time to review it.
Go away. Do something that de-stresses you. Maybe even sleep on it.
Then come back with a fresh pair of eyes ready to review.
2. Challenge yourself
When reviewing your budget don’t just look at accuracy like numbers adding or subtracting correctly. Also look at each line and challenge yourself on its accuracy.
You can use this email series to help challenge yourself. For example, have you accounted for inflation in your costs? Have you cut unnecessary spending?
3. Edit for any review changes
If you decide you can make changes, or find that formulas are incorrect, make sure you edit these so they are updated in your budget.
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💸See below for our readers plans for increasing their income - it might even help you find inspiration
Have a fabulous week ahead!
Until next week
Pernia | Your Finance Travel Buddy