I’ve been thinking about budgeting.
Ideally, I’d like to be more granular with my budget and specify how much I’m putting aside for council tax, mortgage, electricity, gas, gym etc.
Then I’d like to have any money I don’t spend out of a budget swept to savings.
- £500 mortgage
- £50 gym
- £50 gas/electric
- £498 mortgage - £2 goes to savings
- £50 gym - £0 to savings
- £30 gas/electric - £20 to savings
This way, I’m incentivised to live within my means, but also to actively reduce my outgoings. For example, if I get a better gym deal, I know that I’m actively saving the extra money, rather than just losing it in daily spending.
Useful for anyone else?