We get it, it can be hard to get excited about budgets. But budgeting is a very important tool that can help you reach your goals, like that holiday or home reno. The key thing is finding a process that works for you and keeps you engaged.
Find a style you can stick to
There are plenty of ways to set up your budget and saving plan. Have a search online (Sorted has some great tools) and find a set-up you think will work for you. Don’t be afraid to swap to a new one after a month if you’re not engaged with it.
Keep it simple
Simple and clear is always best when you’re creating your first budget. It’s important to be able to quickly and easily see your progress, and where your pitfalls are. Confusing budgets aren’t fun!
Use tech tools
There are great apps and programs now to help you budget. Some connect to your bank accounts so there is no manual work required. PocketSmith, YNAB, Spendee, Pocketbook are all great apps to help make your money journey more engaging!
Track your savings
Make your progress easy to see. Regularly check in to see your savings grow, or see your debt decreasing. This will keep you motivated.
Fun budgeting means celebrating your wins, no matter how big or small they are. Reduced your food spend? Good on you! Resisted the urge to buy a gadget? You’ve made progress! Give yourself praise.
Don’t aim too high
Goals that are too hard to reach, or years away, aren’t fun and you’ll lose interest. Create short, achievable goals that will spur you on and keep you engaged.
You can do it!
Published 15 December 2020
Pie Funds Management Limited is the issuer of the JUNO KiwiSaver Scheme. You can read our Product Disclosure Statement. This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. We recommend you speak with an independent financial adviser. All content is correct at time of publication date.