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“Your actions today determine your future.” This principle also applies to the management of finances. Only expect . to have healthy finances in the future if your current financial arrangements are stable. Hence, you must use budgeting tips to maintain healthy finances.


What are budgeting tips for healthy finances?

It is easy for you to get healthy finances. All you have to do is have the desire to learn and earnestly implement the following budgeting tips.


1. Define financial goals

Life without purpose will end in meaninglessness. That’s why experts always teach us to have goals in everything, including managing finances. The first budgeting tip you need to do is to set your financial goals.

To make it easier for you to set goals, experts recommend using the SMART method, namely:

  • Specific: Write down what you plan to do or buy with the money you save.
  • Measurable: Determine the amount of money you can save to achieve this goal.
  • Achievable: Identify the steps you need to take to reach your goal.
  • Relevant: Your goals must have significant meaning or benefits to keep you motivated to achieve your goals.
  • Time Bound: Set how much time you plan to take to reach your goal.

So that you are constantly reminded of this goal, make posters or interesting pictures about this goal and place them in places where you often stay. You can also type it on gadgets like mobile phones or tabs and on social media.


2. Pay attention to the amount of income and expenses

After setting goals, the next budgeting tip is to become aware of how much you make each month. Then calculate how much you spend each month.

Many people feel they have a certain income and are entitled to spend a certain amount. Unfortunately, expenses are often higher than income. That is why there are often deficits that are attempted to be covered with debt. Eventually, this habit led to significant financial problems.


3. Determine the budgeting method

One of the household budgeting methods that many experts recommend is the 50/30/20 method. With this method, you allow spending 50 percent of your income on necessities, such as shopping for groceries and equipment, to keep yourself and your home clean. However, please don’t feel the need to spend up to 50 percent. You can use the rest for other things, such as saving.


4. Distinguish needs and desires

After determining the budgeting method, you must also be able to decide on the needs and wants. We’ll take a simple example to make it easier for you to understand the difference between needs and wants.

Eating is a necessity, and protein is one of the nutrients the body needs. To fulfill it, you do not need to buy expensive meat. You can meet your protein needs by eating fish or nuts. You can apply the same principle to other things.

5. Make a shopping list as needed

The next step is to create a shopping list of needs according to the monthly family budget you set. This step may bother you at first, like you have to think again, which takes time. But believe me, if you do it often, you’ll get used to it. In the end, you, too, will benefit from this step because you will have more control over your finances.


6. Pay all monthly bills on time

We need services from companies such as electricity, water or the internet in our daily activities. Typically, you pay all bills for this service each month. Unfortunately, failing to deliver it on time will result in fines and ultimately disrupt the budget you have set. That’s why you need to pay every bill on time, so you don’t get penalized, and your finances get messed up.


7. Match desire with the ability

For those who are already married, the following tips will come in handy. With the budgeting method, you have 30 percent of your salary free for wishes. Still, please use it wisely.

A simple example: instead of going to the mall for dinner, why not shop for groceries and invite the kids over to cook together at home? You can host a simple BBQ party at home.

Another example is the desire to buy new clothes. You can still fulfill your desire for new clothes, but choose those on sale or specific brands that are cheaper for the same model.


8. Start saving and investing

If the previous discussion points focused more on managing 50 percent of your income for needs and 30 percent for markets, the next step is to manage the remaining 20 percent of your income.

The next step in managing your finances is to start saving and investing. To make the calculation more accessible, take 10 percent of your income for emergency savings and another 10 percent for investments in gold or stocks.


9. Focus on increasing income

In addition to the above financial management tips, you must also follow the following information designed to increase your income. Because it is essential to manage finances wisely, the price of needs often increases when the salary does not increase.

You can increase your income by finding a part-time job. But the best way to increase your revenue is to improve yourself. This allows you to get paid more expensively for your skills.


Well, managing finances is surprisingly easy, especially after you understand the various budgeting tips above. Now it’s time for you to implement it. Much luck!

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