Search Results for: budget

3 Benefits of Budgeting One Month Ahead

July 10, 2023 By MelissaB Leave a Comment

For years, I’ve tried to get one month ahead of my budget. This is based on the You Need a Budget rule number four: age your money. The idea is that you spend the money you earned last month this month. Finally, this past January, my husband and I were able to do this, and in the last few months, we’ve realized several benefits of budgeting one month ahead.

However, I want to recognize that putting together enough money to budget one month ahead is tough! We needed years to do this because our money was always so tight. However, we feel relieved now that we’ve finally reached this step.

3 Benefits of Budgeting One Month Ahead

Here are three times budgeting one month ahead protects your finances:

When Pay Day Falls Later in the Month

My husband is the primary breadwinner; his check comes every other week. That means that some months, his check will come at the end of the month, which makes paying bills at the beginning of the following month easy. However, sometimes, his check won’t come until the 8^th or 9^th of the month. If we’re not ahead in our budget, we’re short money to pay bills at the beginning of the month.

However, budgeting one month in advance took care of this problem. Now, I can pay our bills on time, in full, because when we start the month of July, for instance, all the money I need is in the budget. After all, I used June’s paychecks to fund July. This is freeing!

When Paychecks Are Delayed

I work as a freelancer and make about 20 percent of our household income. However, my money is allocated to pay for groceries and a few other budget categories. Recently, not one but two of my employers were delayed in paying me. Had we not been one month ahead in the budget, we would have had to shuffle some money around to have money for groceries.

However, I didn’t have to worry because I had budgeted ahead. I got both paychecks about two weeks late, but it wasn’t a big deal. I simply took the money when I received it and budgeted it for the upcoming month.

Defacto Emergency Fund

When you budget one month ahead, that money counts as part of your emergency fund. If anything happens, such as job loss, a reduction in hours, or, as in my case, delayed payments, you have next month covered so you have a financial cushion.

In addition, if you’re tempted by money sitting in an emergency fund, budgeting it one month ahead tends to reduce the temptation because you’ve already allocated how the money can be used next month.

Final Thoughts

We’ve realized several benefits of budgeting one month ahead in the few months since we’ve been able to do it. Who knows? Now we may try to work our way up to budgeting two months ahead. Then, we’ll be one step closer to a six-month emergency fund.

Why You Need a Budget If You’re Broke

Yes, Incremental Budgeting Is A Thing

Small Business Marketing Magic: Creative Strategies on a Budget

June 5, 2023 By Susan Paige Leave a Comment

In today’s competitive business landscape, effective marketing is essential for the success and growth of small businesses. However, limited budgets can pose a challenge. The good news is that with some creativity and strategic thinking, spinning vegas businesses can still achieve remarkable marketing results without breaking the bank. This article delves into innovative strategies that small businesses can leverage to optimize their marketing initiatives, even with limited financial resources.

Define Your Target Audience and Brand Identity

To make the most of your marketing budget, it’s crucial to have a clear understanding of your target audience and establish a strong brand identity. This will enable you to tailor your marketing messages and initiatives to resonate with your ideal customers. Consider the following steps:

Conduct Market Research

Gain insights into the demographics, interests, and challenges of your target audience. Utilizing this information will serve as a compass to direct your marketing strategies effectively.

Craft a Compelling Brand Identity

Develop a unique brand identity that reflects your business values, personality, and what sets you apart from competitors. This will help you build brand loyalty and attract the right customers.

Leverage the Power of Content Marketing

Content marketing is a cost-effective strategy that can generate long-term results and establish your business as an authority in your industry. Consider the following approaches:

Start a Blog

Create a blog on your website and regularly publish high-quality, informative, and engaging content related to your industry. This will attract organic traffic and build credibility.

Guest Blogging

Write guest posts for industry-relevant websites or collaborate with complementary best casino games online businesses to expand your reach and gain exposure to new audiences.

Create Visual Content

Utilize visual content such as infographics, videos, and images to make your content more shareable and appealing to your target audience.

Harness the Power of Social Media

Social media platforms offer a cost-effective way to engage with your audience, increase brand visibility, and drive traffic to your website. Consider the following strategies:

Choose the Right Platforms

Determine the social media platforms where your target audience is highly engaged and concentrate your efforts on those specific platforms. It is more effective to establish a robust presence on one or two platforms than to spread yourself thin across multiple platforms with limited impact.

Create Engaging Content

Develop compelling and shareable social media content, including images, videos, and engaging captions. Encourage audience interaction and respond to comments and messages promptly.

Utilize Influencer Marketing

Engage with social media influencers or micro-influencers who share your brand values and have a substantial following. By collaborating with them, you can expand your business reach as their endorsement introduces your brand to a wider audience.

Conclusion

Marketing on a limited budget doesn’t mean sacrificing the effectiveness of your efforts. By implementing these creative strategies, small businesses can maximize their marketing impact and reach their target audience without breaking the bank.

Here’s How to Paint Your Home on a Budget This Spring!

April 24, 2023 By Erin H Leave a Comment

Spring has arrived, and it’s the perfect time to give your home a fresh wash. Thankfully, you don’t have to go broke trying to make your home look nice. Follow the tips in this article on how to paint your home on a budget this season. With a little planning and a decent amount of elbow grease, you can transform your home’s exterior in a way you never imagined.

Power Wash Your Home’s Exterior

The first step in the exterior painting process is to power wash all the surfaces completely. It’s important because it helps clean and remove dirt. The clean surface allows for a smooth and even paint application when you’re ready. Renting a power washer is fairly inexpensive. The cost will pay for itself by making your paint job look more professional.

Saving on Exterior Painting Services

Did you know that the average cost for exterior painting services is around $3,000? Don’t let that number scare you off. You can get friends and family to help, or you can just DIY the whole project and save money. In addition, before you panic, understand that there are other ways to lower the price, too.

Find the Best Deals

One of the easiest ways to save cash painting your residence is by hitting the pavement and shopping around for the best deals on products and materials. Look for sales and discounts at your local hardware store or online. Also, don’t be afraid to ask for advice from store employees. They will often recommend the best supplies for what project you’re doing and how much you want to spend.

Choose the Right Paint

While it might be tempting to go for the cheapest paint you can find, remember that you often get what you pay for with these kinds of things. Investing in a higher-quality paint will save you money because you won’t be touching it up in the same short time you would have to a lower-quality product. Painting the exterior of your home has the potential of getting you a 55% return on investment (ROI). So, spending a little more on quality paint is always the smarter choice financially.

Invest in the Proper Tools

It may cost a bit more upfront to purchase or rent high-quality brushes, rollers, and other supplies, but these tools are a crucial part of a good paint job. They’ll make the job easier and help you achieve a more professional-looking result. Plus, if you have well-maintained tools, you can reuse them for future projects.

Set a Realistic Timeline

Before you begin the process of painting your property, get a plan in place. In addition, set a realistic expectation for a timeline for completion. Think about factors like how big your house is, the predicted weather, and any other commitments that might get in the way. By setting a clear schedule, you can avoid costly mistakes or delays that could increase the cost of your project.

Don’t Forget About Prep Work

Prepping your home’s exterior surfaces before you start the painting work is essential if you want a successful finish. It may include things like scraping off old paint, caulking gaps, and filling in cracks or holes. By taking the time to prepare, you’ll help guarantee a smooth and even paint application and most likely save time, energy, and money on touch-ups later.

With these tips, you’ll be well on your way to painting your home on a budget this spring! Plan ahead, shop smart, and invest in the right tools and materials. If you do it right, you will transform your home’s exterior without emptying your wallet. Remember, it’s not just about saving money. You should also be able to take pride in your home and increase its value. With a fresh coat of paint, your home will look completely renewed, and you’ll fall in love with it all over again!