How to Budget While Still Saving
Budgeting can help people track their finances, but many people avoid it as much as possible. Still, making a budget that clearly spells out your income and expenses while allotting the rest to savings is a relatively simple exercise. Once you've budgeted your finances, you have a guide to your spending and savings goals.
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Instructions
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Review your income, such as paychecks, support payments and other recurring incoming payments, to determine what money you have coming in and when.
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Go through your recurring bills to review your expenses. Review your receipts or bank statements from the past few months to get an idea of any expenses not associated with bills, such as entertainment or fuel expenses.
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Adjust your expenses to maximize your possible savings. Determine which expenses you can live without or cut back on. Consider eliminating or scaling back on cable TV, for example. Try to find ways to reduce all of your nonessential expenses, such as brewing your coffee at home instead of buying expensive cups from coffee chains each morning.
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Subtract your revised expenses from your income to determine the amount of savings you can put away each month based on your budget.
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