Here’s how to budget for everything

Always wondering where all your allowance/salary goes? Getting broke before the end of the month? Planning and budgeting can help you take control of your finances.

When you budget for things, you get to spend wisely, avoid debts and save more.  Read on to learn how to budget.

1. Do an audit of your finances: This is the first step in any budgeting exercise, note down the total amount of money that you have or you’re expecting. This will put things in perspective by giving you a wide view of what it is you can/can’t afford from the get go.  
2. List out all the spendings and bills you have to pay in order of importance: Now that you have an idea of the total money you have, list all the things you need to spend money on in order of importance. This is to avoid you spending money on unimportant things or even overspending. Prioritizing what you do with your money enables you stick within your means/income. For example, we all know household bills, foodstuff, transportation, savings are very important in any Flexxer’s life, so make provisions for those first before other activities. Pro – Tip: Allocate a huge money aside for everyday events like transportation each month instead of just taking random money each day to get around, this will ensure you don’t overspend and you always have money for the necessities even if you go broke before your next salary/allowance comes in.
3. Always make room for some extras/miscellaneous: When allocating money to different activities, it is important to foresee emergencies and unplanned expenses. Keeping some money aside for these will give freedom to get something you overlooked in your budget list or cover an emergency expense without touching your other savings or getting stranded. If you don’t use your extra money, you can always save it so it’s a win-win either way.
4. Track your spendings: This involves, noting your spending habits and purchases. Once you spend money, note it down in a jotter or an expense app, this will let you know if you are overspending or following the budget correctly. It also helps you make smart spending decisions.
5. Take stock of your financial activities and pick up learning points: At the end of every budget activity, look at all your notes and budget list from the beginning, did you save more? Did you spend more? Are there ways you could have spent smarter? Did you follow the budget to the letter? Answering all these questions and more when taking stock of your financial activities will help you become a better saver and smarter spender.
6. Get your Flexx App and Account; Last but most definitely not the least, you need an account that helps you save more and gives you exclusive access to financial opportunities and freebies. The Flexx app, account and the Flexxzone are here to help you become a financial independent Flexxer in no time. Open you Flexx account here to get started.