Topic: How to avoid over expenses and have discipline - page 19. (Read 2495 times)

Budgeting can be helpful in managing your finances for sure, and I know it because I'm not following a budget right now and I don't even know where the money that I earn goes because I just keep spending on things that are needed or asked for by the family and don't really keep a count. If I had to set a budget for everything, maybe I could have some extra savings since I would buy things more carefully when I know that I have a budget to consider.

Also, inflation has made things very difficult, even if you earn a decent income in the place you are living in, you will still face difficulties managing everything within your earned income because the prices of things are touching the sky and you will have to spend more than what you might have been expecting.

Just make more money, increase your cashflow so you don't have to worry about budgeting too much, yes it's a good thing that there's a budget and you have a discipline on how you spend money but you've got to step up your money making game too, if there's an opportunity that allows you to make more money, get it. Sometimes it's not that you are overspending, sometimes it's your cashflow, it's  so little that you're forced to skimp on stuff that you're not supposed to skimp on.

To be honest, I also have a plan and a spending limit for each month, but I can't stick to my plan in detail. Because we never know what will happen tomorrow. Not only with our children but also with friends, work, a lot of social issues that we have to deal with and being too strict about our finances or having to stick to our plans can ruin a lot of things around us. I think instead of being too strict with ourselves in spending, why don't we find ways to increase our income to be more comfortable? Why focus so much on saving and tormenting yourself?

Financial management is always taught how a person in spending his money for the right needs and they must prioritize something important rather than buying some needs that are not so urgent. A simple example when we can buy basic needs to be processed and cooked at home, so buying ready -to -eat food every day is not needed because it will force money out to be much greater for those needs. When talking about spending something needed then we must be able to place something far more important.

The financial regulatory system's methodogous is a person's step in preparing for his management and if it fails to be managed properly well it will be difficult for anyone to avoid excessive expenses. Unstable economic conditions will definitely force each group to try to save the budget unless those who have income above the average expenditure needed.

this is where you would include kids toys into a budget
also just endlessly buying a kid anything they scream and beg for to shut them up is not raising a good kid. sometimes a kid has to learn the word no.

if your worrying about food but complaining your kid deserves the latest iphone they have been begging for. its time you sort your finances better, and let your kid know about the families financial situation

there are other things you can do (depending on kids age)
if they are old enough to dress themselves, brush their own teeth but not old enough to use  lawnmower/vacuum cleaner.. set them a chore chart. if they brush their teeth and dress themselves they earn stars on their chart. which convert to pocketmoney to spend on toys/candy..
if older they earn pocket money for cleaning room or doing the dishes/yard work

budget an amount equal to a week of star/rewards/pocketmoney.

also dont ignore the cost of birthdays/christmas and then suddenly the month of birthday/christmas then worry about buying gifts for kids. instead. set a budget for the birthday/christmas. and then spread that amount over the 12 months of the year where you save up each month

or simply..
if you have spare cash each month dont waste it on your own vanity/luxury. save it for your kids well being

It is not always necessary to be strict in your finances, and even those poor people who earn below the minimum can still buy what their children request. You are right, there are really times that we need to break our budgets, which I do sometimes when needed, but again, this kind of mindset will not always be followed as we are sacrificing other things just to purchase what we want. We should have a balance on this, like we need to spend what we want as a reward on ourselves and our family.

Inflation is creating a mess for us and money is disappearing fast. If we are aware of that, discipline and planned spending must soon be implemented more strictly. Because without discipline and planning, and we spend freely, bad things come to us faster.

Disciplined planning and spending don't mean we have to follow a robot-like pattern all the time, it does mean it makes us conscious of saving and spending in moderation, do not spend lavishly. Depending on each case and situation, we spend it in the most reasonable way but don't be too wasteful. That is the purpose of spending planning and discipline.

It’s hard to create and stick to your budget if you haven’t got discipline. And your point about creating a budget that’s  realistic and more importantly, achievable. You would need to put down all what you spend your money on, note what luxury goods could be substituted and what isn’t really needed. For a lot of people, changing their spending habits even slightly to conserve money and sticking to a tight budget takes discipline.

planning anything so we can manage our money efficiently, that's a good thing to do. also i think we need to save some money and start investing. the easiest invetsment that many people can do is buying bitcoin. I think it is okay to sometime spend money for self reward. it can make us enjoy our life and get the happines. we are live in this world only about 100 years maximum and many are less than that. don't forget to be happy.

I like how you suggest doing grocery shopping fully, to ensure that you don't buy anything you don't necessarily need and are not on your list. More often than not, we buy foods that we only want for a day and then let it rot in our fridge and pantry after. Sticking with the grocery list you make is always the best thing to do, and ensuring that is what happens of course adds more. 

Set a budget
Dont spend too much on luxuries
Dont spend on outing
Have control on money lust
Have control on travel goals
Always set priorities

This would be the most or best way for you to be able to save up and avoid yourself on having that total wreck.The most important thing is that you do sustain yourself on living
because if you are really just trying out to go well go lucky on everyday without even minding about those plans and possible solutions and additional income.
Then sooner or later you would be finding yourself into such tough situation in terms of finances because you would really be suffering with those lack of money due to
unwise spending and uncontrollable expenses.

After setting a budget, list all of those expenses that you're about to spend so you will have a track on much is coming in and out for you.

Also when you're doing groceries, list all of the groceries that you're going to buy so that you won't overspend. And the same goes for eating out, before going to groceries, eat at home if you don't intend to eat outside.

Don't let yourself hungry when you pick those groceries because you will overspend and will make you pick those foods that you're craving for.

Not only at this point, someone will experience difficulties if they don't make a plan or list of items they need to shop for. Because in all aspects everyone should be able to make an important list before they do shopping for their living needs so that we don't experience difficulties before receiving the next salary from the work we do.

So a methodology like that is indeed very important to apply to life because every thing that is good and can help everyone's life (including our own life) will always be good to be carried out wisely without having to think about many things that we might not be able to carry out so that complaints are also it may come again in the end.

Nice comment... and everything that is really good is usually "over budget". And how to save on kids, house, car, and everything else? Everything asks for maintenance. So I definitely agree with you, it's hard to be disciplined and live a life, I feel like we can't afford it, it's like a privilege of the rich people, with very high incomes. We all look for that income/expense balance in life, but I guess this inflation made a pretty nice mess in our wallets, and it's really hard to keep up in the past months, money is going away at incredible speed.

If you have to be disciplined all the time and spend your finances according to a plan, that's how uninteresting life will be. How are you different from a robot? And would you say no to a child who sometimes asks for a new toy just because it's a little over budget?

Unfortunately, a lot of us fall shortly when it comes to managing our own finances as most of us end up overspending, more than the amount of our budget or more than the amount of our means. While tracking your spending will be a great help so you will know where your money is going, and where you want it to go, but still for most of us, even setting a budget and sticking to it is still hard and impossible to do. However, if you seriously manage your spending and stick to your budget that you have set, then I don’t think one will end up overspending. Discipline might be hard but if you are making it a habit, then you’ll find it easy managing your finances.

budgeting wouldn't cut it anymore in this economy. I kid you not years ago my current budgeting system would've worked wonders, but now that things are in the shitter and it's way harder to manage expenses it's become so hard to budget without sacrificing stuff I was able to enjoy in the past, just so I don't starve before next paycheck. The only realistic way for you to still survive the current financial crisis and still have money to save is getting another job. A job for your expenses, and a job for your savings, plus don't be in rush when it comes to marrying and having kids. You can't raise children when the price of formula is increasing exponentially every year lol. Although if it can't really be helped then by all means.

not saying he is wrong. more like making a stronger point about the definition of "set aside"
many people make a spread sheet and "tell" themselves to set something aside. but its just a mental note. which does require extensive discipline to stick to your idea's.
however setting up actual structures like separate accounts. means if you leave your bills card at home.. you cant spend it at the grocery store. thus protecting the money allocated for bills..
and if you only take the grocery account card with you. you are limited to your grocery budget.
then the third card which is the left overs. you only use that as the last resort which is like a visual thing in your wallet where taking it out causes you to re-think your choices for a second 'do i really want/need this'

as oppose to having all money physically on one account and having to remember idea's and having to make decisions of should you break your budget because you feel sad and need a pick-me-up luxury because you know there is £$1600 in that one account and you can make a sacrifice another day

having funds separated makes it harder to just say, "well theres my whole months salary to spend so why not spend a lil more" because having it separated in actual multiple accounts means you only have £$XX or $£XXX in a certain card instead of £$XXXX. so you think more about if you need the certain things

..
point being even if you tell yourself XXX is for bills. if all income remains in one account people will always find an excuse to validate over spending. by saying "its ok ill just pay extra on bills next month"

however by splitting it up on pay day. means you have that extra barrier to fight yourself against. which helps more if you dont put your bills card in your wallet when you go grocery shopping but leave your bills card at home to just pay the bills


best discipline. anything you consider a toilet flush(waste) the next day. EG fast food that just turns into tomorrows bowel movement. is not a good investment. so go without junk food and invest it.
then dont sell all investments to go on a junk food binge when you profit. just sell the profits and use just profits for junk food
whilst still investing the base capital and any new income on the next correction after the ATH corrects back down

I can say that i do really have a problem in this regard;
3. Break down luxury expenses

Currently, i do really have a big problem when it comes to this kind of expenses on which im really that totally regretting as of this moment on which im suffering on paying up on huge interest since
all of my current credit cars with its maximum limits had already been spend out and now im struggling on paying every one of them on monthly basis which im only able to pay up the minimum
amount due on which it do really sucks when it comes to this kind of condition on which it is really that something that i should have avoided earlier. This is the result if ever you arent that mindful
about your spending.

I do accept out that i did make myself really that impulsive when it comes to this on which buying this and buying that without even minding about on paying it later or not really that
responsible enough on how to control yourself on using up those cards and now im really that struggling. Come up with some plans on trying out to clear my debt now and
i did really make out that lesson over spending and discipline towards using it or even budgeting my income which it might sound simple but its something crucial i would say.

In other to avoid overspending and maintain discipline,it is necessary for one to create a budget plan and put it on a scale of preference so as to be able to track expenses and prioritize needs over wants.
One can be put to self control of spending unnecessarily with this process... setting financial goals can also enhance better money management.