Right now, getting by on a Budget may feel harder than ever before, especially if you’re caring for children. After all, the price for everything from fuel to groceries has increased at a seemingly impossible weight, which could leave you feeling as though you are living paycheck to paycheck.

With that in mind, here are some tips that you can use to make your monthly budget stretch a little further.

Track your spending.

According to a study from YAHOO Finance, one in five people who claim to budget “don’t even keep track of their monthly Spending,” which means they have no real way of knowing how they’re spending their money or if they are on track for their financial goals. 

As such, if you’re ready to get serious about budgeting and want to save money rather than spend it, it’s time to start tracking your spending. This way, you’ll have a greater understanding of: 

• Your monthly expenses 
• Times you’re spending money without realising 
• Financial mistakes that need to be rectified 

You can track your expenses using an app on your phone or by making a note each time you buy something. However, the app is likely the most effective method, as it will record your spending right away. 

Prioritise big purchases (but still cut costs).

Budgeting does not mean that you have to avoid spending money altogether, especially when it comes to the ‘necessary’ purchases. For example, if you’re in the market for a new car, this is something that likely cannot wait, especially if you use your vehicle every day for school runs or your commute.

However, there are plenty of ways in which you can save money when buying a car. For example, you could look into financing options to break down the upfront cost into something more manageable or sell your old car first. You should also reach out to a local dealership, such as an isuzu dealer, to see what special offers they have in place. 

Correct your mistakes. 

Budgeting is a great way to prepare better for your family’s future, but only when you use it as a means to action change. For example, if you have a budget that you constantly disregard, you’re not really budgeting. The same can be said for those who have a budget but make the same mistakes again and again each month, such as forgetting to cancel unused subscription services. 

At the end of each month, look over your budget and spending and figure out ways in which you may be able to cut costs. For example, you could start making your morning coffee at home instead of grabbing a take-out on the way, save for the occasional treat. 

When shopping online or on your phone, you may also want to start using cashback apps or websites or plugins that search the web for applicable discount codes on your behalf, such as Honey. After all, this is a great way to ensure that your shopping habits remain as budget-friendly as possible.