Do you find it hard to save money? Are you struggling with debt? Is the thought of being asked if you know how to budget your money cringeworthy to you? Is that sale at your favorite clothing store calling your name?
If you constantly find yourself wondering where your money has gone, Zoe McKey’s Minimalist Budget could be the simple solution to your financial woes.
The Fabulous Daily Motivator app will assist you during this journey using baby steps and scientific methods.
Launched in 2014, the app was developed on principals of behavioral economics at Duke University’s Center for Advanced Hindsight, overseen by behavior change scientist and New York Times best-selling author Dan Ariely. It’s presently used by millions of people, with over 175,000 enthusiastic reviews on Apple Store and Google Play.
In fewer than 15 minutes and using the science of behavior change, Fabulous starts small and help you build lasting habits to achieve your goals.
How to Budget Your Money
Despite its heavy significance, financial education isn’t typically included in our educational system. Budgeting skills, as well as the ability to stick to a budget, are elusive to many people. However, developing these skills is crucial, as it guarantees our material survival.
Because of a lack of financial knowledge in our consumer society, we’re currently facing two major problems:
- Downsizing without needing to sacrifice the fun stuff, and
- Controlling our finances while creating a budget.
Based on the principles of minimalism, this book outlines some basic financial rules while introducing several ways to save money and curb frivolous spending. By figuring out what you need, you can live a more manageable lifestyle.
Less Is More
We can all benefit from a simpler way of living. Minimalism can not only enhance your physical and mental health, but it can also improve your financial health. In her book, McKey offers straightforward, easy-to-follow methods to help keep your finances on track:
- Improve your spending habits. Incorporate a minimalist approach to your finances, and avoid becoming a compulsive consumerist. Control your spending habits by learning the psychological traps that cause you to overspend.
- Feel financially secure every day. Learn budgeting methods, such as A-Z, ratio-based, and fixed-amount budgeting. Use budgeting software programs, and design a solid savings strategy to get you out of debt and set you up for retirement.
- Stop hating your financial life. Increase your self-confidence with 50 budgeting tips, and learn how to set SMART (i.e. specific, measurable, attainable, relevant, timely) financial goals.
Your financial health is also an indicator of your overall health. It’s crucial, then, to take the time to truly evaluate your finances and nurture your relationship with money. As daunting as it may seem, downsizing could have a positive effect on your wellbeing, both physically and financially. Minimalism teaches us that we really don’t need as much as we think we do. Less, in this case, is more. Instead of struggling to maintain a lifestyle of spending, spend less – and spend only on those things that you actually need. Save your money and invest in your own future.
Improve Your Financial Health
Money management is a fundamental skill for anyone who earns or consumes. Regardless of the size of your income, you can budget effectively, save your money, and increase your self-worth.
When you learn how to budget your money, you can clearly see where your money is going, where it’s coming from, and where you can save. Not only will you reduce your debts, but you’ll also have more savings for bigger expenses, like a new car or a vacation. Budgeting, in its essence, is a lifestyle change – and with Minimalist Budget, it could help change your life for the better.
Ready to simplify your life? Start with your stuff! Try our 30-Day Decluttering Challenge today!
31 1 31 1