Understanding how to budget is important for everyone, no matter how old you are or what job you do. Many people get overwhelmed by the prospect of budgeting and as a result are living from one paycheck to the next with no savings ready for unexpected events.   


  • Plan your predicted payments

Firstly, when working out your financial budget you will need to set money aside each month to pay for your necessary bills, which may include your rent, mortgage or utility bills. These payments are predictable so are often the easiest to start with and it is vital that they are paid so they should be prioritized. The amount of money that you are left with after deducting these bills from your paycheck is the amount you have to spend on groceries, your personal activities or savings for the rest of the month.  


  • Save for an emergency fund

Not every month is the same and you cannot predict any unexpected bills or events that may occur. This may be an urgent car repair or may be a sudden loss of earnings. Often these bills need to be paid immediately so by taking budgetary advice and saving a small amount of money from each month’s paycheck will provide you with an emergency fund and reduce the stress caused from these events.  


  • Use cash payments

As card payments are convenient and quick it can be easy to get carried away and spend too much when paying by card. One of the best budgeting money tips is to take cash out with you when shopping and going on days out. From your monthly budget you will know how much money you have dedicated to each activity, so you can take this money as cash which will ensure that your do not go over this amount.  


  • Pay off debt

If you currently have any debt, then it is important that you concentrate on paying this off as soon as you can. By budgeting you can easily see how much money you can direct towards your debt each month. As debt comes with interest you should prioritize paying it off, so this may mean limiting the amount you spend on monthly activities or shopping so that you can make larger repayments. By doing this you will be surprised how quickly you can resolve any debt.  


  • Share budgeting together 

Budgeting alone can be daunting, especially when you first start. So why not share with family and friends to make the process fun and to pool ideas together. If you are married or living with a partner then you should budget together as you will be sharing bills and it also allows for you to plan for the future together.  


  • Budgeting Apps

The time of using pen and paper and sitting down for hours to calculate your budget has long gone and now there are many useful Apps for simple budgeting that you can use to make this process quick and easy. Often it is a case of inputting your financial information and letting the app help you to work out your monthly budget. A handy app can also be taken out and about with you, so any changes to your budget can be easily made.  


  • Plan for the month’s events

Each month you will have different events to consider, which may include birthdays, days out, holidays or even Christmas. As you know in advance which months these events will occur you can plan for them and start saving for each one throughout the year.


These are many useful tips on budgeting that can be found at http://www.bestbudget.com that will help you get started with personal budgeting so that you can begin to save for the future and start to enjoy spending your money wisely