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I get it—budgeting isn’t the most fun thing in the world to do. Writing down dollars and cents into a spreadsheet may be stressful enough to give you hives. Even if you’re someone who hates budgeting, you can still get a handle on your spending. In this post, we talk about how to spend less money without starting a budget if you’re trying to cut back.
Set a Bottom Line
The bottom line hack is figuring out what the baseline you want in your bank account to be. You set a number that you won’t go below (maybe $2,000 or $3,000). This way, you know that if you’re nearing that baseline at the middle or end of the month it’s time to stop spending money on random stuff like at home dip nail kits. You don’t have to budget down to every dollar and cent. Instead, you’re making sure that you’re keeping a certain amount in your checking and savings account to be comfortable.
Give Yourself an Allowance
Another option is giving yourself an allowance that you’re able to spend freely. You put this money in a separate account or draw cash. This is the only money you have access to spend. The rest of your money for other goals (saving, debt payments, investments, etc.) gets put away in another account so you can’t spend it.
Same premise from above here. When your allowance for the month is running out, you know it’s time to stop spending money. No need to budget down to dollars and cents. Put money for your goals and bills in the proper place and only spend the amount that you’re giving yourself for fun.
Set No Spend Days
Eating out and spending money on random stuff is one way that your money disappears. Try days where you don’t spend money AT ALL. Perhaps you do this on Monday, Wednesday, or Friday. Bring lunch to work. Cook dinner from stuff you already have in your fridge. Don’t go to happy hour. Don’t order anything from Amazon. You get the idea.
Set Up Automatic Savings
Setting up automations is an AWESOME way to spend less and grow your savings. The app that I absolutely love for automatic savings is Digit. Digit scans your checking account for deposits and withdrawals to see if there’s money available for you to save. Any money you can save is automatically deposited into a separate account. Trust me, this money grows fast. I use my Digit account for a travel fund.
Another option is setting up automatic transfers with your bank from checking to savings. This way biweekly or weekly money moves from checking to saving. You’ll spend less with this approach because you’ll have less money in your checking account to play around with.
You can spend less money without putting together an intricate budget. However, you should ideally put together a plan for your money (budget) eventually. Use the tips above as the first step to curb your spending. When you’re ready to take the next step, check out this SUPER easy budget even for people who hate budgeting.
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