You read that right. I didn't take this decision lightly. It's something that's been on the back of my mind for months. Then 37Signals released Once.com. It really resonated with me. Then I knew what I had to do.

I'm old enough to remember when software was buy once. Use it as long as it ran. And it normally ran "forever". In fact, I still have software that runs fine even after six or seven years. Unfortunately everything today is a subscription.

Why?

You might be wondering why I'm making this decision considering how Centsible started off subscription based. The answer is simple. I intended to grow fast and work on Centsible full time. But I haven't seen the growth necessary to devote the same level of time and energy into this project.

Additionally, Centsible has reached a pretty stable state. Not to say there won't be bugs. But it has most of the core envelope budgeting features people pay $100 dollars a year for in the big competing apps.

Ultimately it just doesn't feel right to be charging monthly/yearly for what will be the same product year over year. This doesn't mean I will stop working on Centsible. Just means my time commitment will be much less. I'll also be able to focus on small quality of life things to make it the best budgeting app possible.

Billing Updates

Let's go over what the new billing updates are so there are no surprises.

Lifetime Offline License

As I eluded in the title, Centsible will begin to offer a one-time lifetime license for $100 USD. That means you pay $100 once for offline access to the core envelope budgeting features. No ongoing cost needed. The part I want you to pay close attention to is the word "offline".

Centsible was built with real-time data sync capabilities, which is an on-going cost. For this reason the lifetime license will come with 2 years of data sync included. After that syncing will no longer work. Crucially though, you don't lose access to all the budgeting functionality. This is where the next part comes in.

Data Sync Subscription

I've decided to adopt of hybrid billing model. Pay once for the core functionality, but if you need to sync your budget data between devices, a subscription is necessary. I've made it $12 USD per year, which is about $1 per month. Those numbers don't include tax.

Importantly, you won't have to worry about this for two years after buying a lifetime license. If you are budgeting alone and don't need to share your budget across devices, you have an envelope budget app that you only pay once for. Although it doesn't exist yet, there will be a way to migrate your data across devices when your data sync stops working.

FAQ

What if I already subscribed yearly?

If you've only been subscribed for 1 year, simply wait until your subscription happens one more time. Then turn off auto-renew. It's the same cost as the lifetime subscription, so I will honor it. You'll get the same 2 years of data sync included. If you've been subscribed for two years, turn off auto-renew and contact support to get you updated.

What if I subscribed monthly?

This one is trickier as the total is likely to be much less than the yearly. First, I would turn off auto-renew. Contact support with the email you used to sign up with. I'll extend your subscription the number of months you have already paid. If you subscribed for 3 months, get 3 more months free. Then after that you can decide if you'd like to purchase a lifetime license.

If any of the monthly subscribers disagree with this, please make the argument when you email support. If you need time to save for a lifetime subscription, we can make it work.

The lifetime license is expensive.

I completely understand if people are going through tough times. Don't hesitate to contact support. We'd be more than happy to extend your trial so you can gain the benefits of envelope budgeting. The hope is if we can help you save $100 dollars to buy the license, buying Centsible is an easy choice.

If you feel it's too expensive in general, I recommend looking at open source alternatives.

Why do I have to pay for multi-device data sync?

Firstly, you don't have to subscribe to sync your data between devices. If you don't need it you can still manage your budget on a single device. In the future you'll be able to move your budget file to a different device if you need to switch phones.

As mentioned above, data sync is an ongoing cost. Servers aren't free. And if you compare the current price ($12 USD) to open source alternatives that allow you to host your own data, it'll cost you a minimum of $1.4o USD per month. If you don't want to worry about managing your server and keeping it updated, $12 USD yearly is priced competitively.

Welcome to a complete guide on managing your money with a budget.

We'll cover what budgeting is, budgeting methods, and dispel some common misconceptions about budgeting. It isn't about being restrictive or living on beans and rice.

In reality a budget done right is simply a plan that gives you direction and clarity about your money.

This will change your relationship with money.

Tired of wondering where your money went? Want to take control of your money, pay off debt, and save more money? Then read on.

What is Budgeting

First, let's point out the elephant in the room. Budgeting does not have the most fun reputation.

You can hear the collective groan people let out when someone says "you should budget". What they really hear is, stop buying this. Don't buy that fun thing. Don't spend money. Restriction. Deprivation. It almost sounds like a punishment.

But what if I told you budgeting is not a punishment for your past behavior. It's not actually restrictive. The good news is, you've been budgeting the wrong way.

A budget is just a plan for what you intend to do with your money.

That's it. The definition of a budget really is one short sentence. Just a plan. A plan you have complete control over. That plan can entail spending all of your money if you wish. Or it can include savings.

Types of Budgeting

There are many different budgeting methods you can choose. But when distilled down to their core, there roughly 4 different methods to choose from.

• Traditional budget
• Proportional budget
• Automated budgeting
• Envelope budget

Make no mistake, there are more. But they're usually a spin on these 5 budgeting methods. Out of these 5, only envelope/zero-based budgeting forces you to be proactive and mindful about your money management. Let's go over each one to understand how they work, and why people don't get the results they're hoping for.

Traditional budgeting

Odds are when you picture budgeting, what comes to mind is traditional budgeting. This budgeting method asks you to list out your expenses and how much you expect to spend on them.

• Rent: $1600
• Internet: $75
• Groceries: $200
• Phone: $95
• Gas: $180

In general this form of budgeting is a good start because it makes you aware of your expenses. You will also compare your expense list total to your income and get a general idea of how you are doing financially.

The problem is a list on paper or even a spreadsheet is hard to manage. Every transaction you need to do math and remember to subtract from your expense list. This will get confusing really fast.

For this reason traditional budgeting is usually coupled with expense tracking. This is what apps like Mint do. They help you visualize your expenses by categorizing your transactions. Then you can compare how you say you did vs how you actually did.

The problem is budgeting this way doesn't ask if you have the money yet. What if you get paid twice a month? You only have the first half of your pay. Maybe you went out to dinner with friends unexpectedly. You can look at your bank balance. But the dinner expense hasn't cleared and you have other bills to pay. Are you confident you won't overdraft? Maybe, maybe not?

Your confidence level is low. It's inevitable that you will spend too much somewhere. We are only human. But with traditional budgeting it's difficult to feel confident in your financial position until it's happened. And by then it's too late to make a different decision. Hence this method of budgeting being backwards looking.

Proportional budget

Proportional budgeting is a type of budget where you intend to spend certain portions of your money on specific categories. For example:

• 30% on housing and utilities
• 20% on fun
• 15% on savings
• 15% on food
• 20% debt payments.

The goal is to have 100% of your money accounted for in this proportional budget.

The most popular proportional budget by far is the 50/30/20 budget. This budget method asks you to split your expenses in three categories: 50% on needs, 30% on wants, and 20% on savings.

This method of budgeting can work for some. It does a few things right. Firstly it ensures you think about savings, the 20%. It also caps your needs at 50%, leaving you with discretionary spending. As a guide it works great.

But it has the same pitfalls as traditional budgeting. What if you get paid 2 times a month and don't have the money available for certain spending? Looking at your proportional budget technically says you have the money. But you might not. There is uncertainty, not confidence in your financial situation.

Automated budgeting

Automated budgeting isn't technically a budgeting method. It's more of a feature in how people can budget. The most popular automated budget is Mint. You quickly create a budget and then you just let it handle the tracking for you.

I don't think I need to explain why this is not a good idea. The tech behind Mint is great. The problem is you are not proactively managing your budget. If a machine is doing the heavy lifting, you are not learning any new habits or changing your behavior. I bet you've never heard anyone say how Mint changed their life.

Money really is mostly psychology. Habits need to change. And for that being intentional is a requirement.

Envelope budgeting

Imagine if every dollar you earned was like a tiny employee, ready and eager to work. With envelope budgeting, you are the boss who ensures that every one of your "employees" has a specific job to do and a desk (or envelope) to sit at.

You start by naming different expenses as tasks – things like 'Groceries,' 'Entertainment,' 'Car Maintenance,' or 'Holiday Gifts.' Then, create envelopes for each of these tasks. With every paycheck, it's like a new batch of "employees" has just walked in. As their manager, you decide how many dollars (or workers) you assign to each task, placing the expected amounts in their respective envelopes.

When you need to spend on groceries, you only take from the 'Groceries' envelope. If there aren't enough "employees" in one envelope, you'll either need to reassign them from another task or wait until the next batch arrives with your next paycheck.

Envelope budgeting works because it forces you to think with only the money (or employees) you have now. This reflects reality and makes you consider what is truly important to you. If you don't have enough money in your "eating out" envelope, that's okay. Maybe you can take some money from your "new car" envelope. It just means it will take a little bit longer to save up for that new car. The key is to be intentional and in control.

We love envelope budgeting so much, we built Centsible as a digital envelope budgeting system.

The Centsible Four Step Budgeting Approach

Regardless of the budgeting method you choose, we devised a standard approach whenever creating your budget. Using this approach helps soften the roller coaster that is life. Doing this will increase your chances of feeling like your budget is working, and thus more likely to stick to your budget.

Step One: List your monthly expenses.

This one is a no-brainer. If you've ever budgeted before, this is likely a step you always take. List out every single one of your expenses and write down how much it costs. It is easiest to login to your main banking app and load the last two statements. Then just go through each transaction and figure out if they are monthly. Here are a few examples:

• Rent
• Electricity
• Phone Bill
• Internet
• Insurance (if monthly)
• Groceries
• Trash pickup
• Subscriptions (Netflix, Spotify, etc.)

Step Two: Breakdown non-monthly expenses.

This is what most people get wrong with budgeting. They start with step one, but forget about step two. Without step two, every month will feel like you are going over your budget. Why? Because of non-monthly expenses.

These expenses will typically feel unexpected, usually because they happen every quarter or yearly. So we forget about them.

• Home owners insurance
• Amazon subscription
• Medical expenses
• Car maintenance
• Clothing (for some it may be monthly)
• Vacation
• Christmas or holidays

It's important to think about which non-monthly expenses apply to you and add them into you budget. How you do it is up to you and personal preference. Let's look at two examples on how you would add these types of expenses into your budget.

Car maintenance: say you need $1000 for this every year. You should break down the monthly payment by the number of months until its due. So 1000 / 12. That would be $83.33. A much more manageable number to deal with than $1000 suddenly.

Amazon Prime: at the time of writing this, prime is $139 per year. By using the same formula from car maintenance, 139 / 12, we get 11.58 monthly. More manageable than $139. But if you'd prefer to save $25, $50, or even all of it because it fits your budget, you can also do that.

How does this help? Throughout the year you'll have months that are wildly more expensive than others. If you choose to ignore them until they pop up, all the saving you thought you had in the prior months will be taken to pay for the expensive months. In essence, you weren't actually saving with purpose because the money was always going to be spent in those bad months.

Instead you want to divide and conquer. Rather than dip into your savings to pay for the expensive months, distribute the larger expenses amongst the less expensive months. This will give you a more realistic view of your finances.

Even though both graphs are essentially the same, you can better plan your goals knowing your expenses are more consistent month-over-month.

Step Three: Track Your Plan

The last step is to track your plan. You can use any number of methods to do so. Look into which budgeting method best matches your lifestyle. But at Centsible we recommend envelope budgeting.

Tracking your money in buckets or envelopes makes it super easy to both see where your money is, and also cover overspending. Because let's be real, you will overspend somewhere. We are only human.

Benefits of Budgeting

Guess what? You're probably getting the hang of this budgeting thing by now! You've grabbed the wheel of your money car and are cruising towards any financial speed bumps with ease. And who knows? Sticking with budgeting might just reveal some cool money tricks up your sleeve!

Here 4 benefits of budgeting:

You'll reach your goals.

Pay off debt, save more money, or early retirement. Doesn't matter what your goals are, a budget can help you achieve them.

You'll build wealth.

Think of envelope budgeting as your money's roadmap. With it, you can navigate away from debts, break free from the paycheck-to-paycheck cycle, set up a safety net with an emergency fund, and pave your path to growing wealth. As you master directing your money towards your real priorities, you'll notice your finances flourishing, almost as if it's second nature.

Decrease financial anxiety and stress.

Money is hard. Constantly worrying about whether you can afford something is not fun. Will the credit card be declined? Another overdraft fee? A personal budget can help remove the stress, anxiety, and mental load from all that worry.

Be more confident financially.

Think of budgeting as the cornerstone of your financial life. It can help you make big or small decisions. Love that coffee in the morning? Easy. Eating out with friends? No problem. Can I afford the car? What about my dream home? Can my partner stay home with the kids? Doesn't matter the decision, a budget can bring you clarity so you can make the right decision for your life.

If you want more control over your finances, spend freely without guilt, and build wealth, start a sensible budget today.

What are you waiting for?

Picture this - you've been so tired of feeling stressed about money. So you decided to take your finances serious. You created a solid budget. Rather than take that coffee run, you squirreled away that money to pad your savings. Your emergency fund was beginning to grow. You thought, "maybe I can do this".

And then BAM, your car won't start. Or you dropped that brand new phone in just the right angle but didn't get insurance. Phones aren't cheap these days. You keep having to dig into that emergency fund you've been working so hard to build. So you think, "budgets don't work!".

Not so fast. I have some good news. It's not the budget. There is a way to combat these expenses that feel like they come out of nowhere. It's called a sinking fund. This little-known strategy is how you combat these sneaky, yet expected expenses.

What is a Sinking Fund?

So you're probably asking yourself, what the heck is a sinking fund? A sinking fund is a saving strategy where you set aside money little by little over time in a specific pot. That pot of money is earmarked to a specific larger expense. Think of it like a savings account you have for that one thing.

You may have already been doing this without really thinking about it. Hopefully rather than put that vacation on credit, you have actually been setting aside money over time. Likely in a high yield savings account. Well, this is essentially a sinking fund. You were doing that to be prepared for the eventual wave of expenses you would incur while on your trip.

Take Jenny, for instance. She set up a sinking fund for her car maintenance and another for holidays. Jenny will now be prepared for these expenses attempting to ambush her budget. Rather than be unexpected, they are now part of her budget just like any other expense. This has been a game changer. Her stress levels are much lower knowing she's accounted for expenses most people think are a surprise. She's never been this in control over her money before!

The Difference between a Sinking Fund and an Emergency Fund

But wait. You're probably asking, "Isn't a sinking fund just an emergency fund?". It's understandable why you would think that. They're both a form of savings, right? But they both serve a distinct purpose in your financial plan.

Think of an emergency plan as a safety net. It's meant to catch you in the event life decideds to throw you a nasty surprise. These unexpected events could be a job loss, sudden illness, or a tree falling on the side of your house. These are things you can't see coming.

Sinking funds, on the other hand, are funds for things you know are coming, or rather are expected expenses. You know your car or house will need maintenance. Christmas and Thanksgiving come every year. How can the flight to moms house be that unexpected when it happens every year? But if you don't plan for it, they can feel like emergencies.

Let's go back to Jenny's example. When her car's transmission broke down, she was not panicking when her car maintenance fund was depleted. Instead it was an unfortunate inconvenience. One that she was prepared for because she had the foresight to have a sinking fund.

Taking into account the differences between a sinking fund and an emergency fund, you should be ready for both the expected and unexpected events. You'll be financially prepared for anything.

How to Set Up a Sinking Fund

Are you ready to make that stress melt away? Great! Setting up a sinking fund is straightforward, and I'll walk you through the process. There is a three-step process: Identify, Calculate, Start Saving.

Identify

First identify what you need a sinking fund for. Own a home? Probably a good idea to have a maintenance fund. You already know the car maintenance fund. A fun one is a Christmas or holiday fund. It happens every year. A vacation fund is also a great idea.

Calculate

Once you've identified what you are saving for, it's time to figure out the numbers. It's surprisingly easy to get this set up. Let me illustrate with a popular example.

Phones today are very expensive. Many folks do the payment plans. But you can save up for it ahead of time. Phones run about $1000. Since the cycle is about every 2 years, 1000/24=41.6. You simply divide the amount by the number of months until you need the money. That's about $41 bucks per month. Much more manageable than most people think.

Start Saving

This is the fun part. You have several ways to make your savings clear. You can stash away the cash in a piggy bank. Or maybe having separate savings accounts works for you. You can auto transfer the amounts necessary so you don't need to think about it.

We are of course partial to budgeting apps, like Centsible. You add a new category that represents your sinking fund. Set a plan by date. Centsible does the math for you and reminds you to set aside that amount every month.

Real-World Applications of Sinking Funds

Now you're probably wondering how to best use sinking funds in your budget. Good news is they are flexible and you can fit them however you see fit into your financial plan. Let's dig into some common uses.

Annual/Quarterly Bills

As mentioned by Jenny's example, a popular use of sinking funds is non-monthly bills. I can't count the times I would get seemingly random yearly or quarterly expenses I should have seen coming.

• Home insurance
• Car insurance
• Annual subscriptions (amazon prime, email service, costco membership, etc.)

A quick note about subscriptions. Everyone is different and has different needs. Some subscriptions can be $80 a year, and you may want to just immediately set aside the money for it. Or you can set aside the $6.60 a month to slowly build it up. It's up to you.

Savings Goals

Savings goals are the perfect expenses to use sinking funds with. Some of these are:

• New phone
• New computer
• New car
• Christmas / Holidays
• Vacation
• Home down payment
• Emergency fund

Let's take a vacation for example. Say your dream vacation costs $3000. Maybe you want to do it in a year, so 12 months. The math is 3000/12=250. Maybe 250 isn't bad. Or maybe you push the vacation another year so you can save for other wants. So it'll come out to $125 per month for 2 years.

Christmas or holidays are another big item most people don't consider, but should. Every year Christmas rolls in, and every year we spend too much. Maybe it's time to set aside the money throughout the year to prepare for Christmas, or flights to visit grandma for Thanksgiving.

Lastly, you could save for your emergency fund using a sinking fund. It's recommended to have 3 to 6 months of expenses as an emergency fund. This might be too much for you to save in a short period of time. Instead break it down over the course of a few years. This way you can not only save for emergencies, but you can save up for all your other wants and needs. Divide and conquer!

Common Mistakes When Using Sinking Funds and How to Avoid Them

With most things in life, too much of a good thing isn't always good for you. Let's go over a few common mistakes people make when working with sinking funds.

1. Over-complicating things: it's easy to get super excited about sinking funds that you create one for every little thing you can think of. The result ends up being a confusing mess of little funds that are difficult to manage. This is one of those times where keeping it simple is the way.
2. Neglecting other financial priorities: A sinking fund isn't a replacement for an emergency fund or general savings. I like to think about it as glue to keep your financial plan intact. You should be saving for monthly bills, goals, and to pay off debt. Sinking funds fit in as a strategy to even out those large spikes for non-monthly expenses.
3. Using sinking fund money for other purposes: it may be tempting to dip into your sinking funds for money. But remember, it was a plan for you to save up for something specific. Needing to dip into your sinking funds means your plan was not realistic. You may need to reassess your plan.

The Impact of Sinking Funds on Your Financial Future

If it isn't already clear the positive and long-lasting effects of sinking funds can have on your financial future, let's go over them.

Firstly, by using sinking funds you are adopting a mindset shift about money. Most people only consider the typical bills and expenses.

• Groceries
• Eating out
• Vacation
• Electricity
• Rent
• Fun money

The problem is it doesn't take into account real life. Life is unpredictable and for most things you can prepare for them. This changes your mindset from reactionary to being proactive. This is a powerful shift that will change you. Rather than stick your head in the sand, you are choosing to confront those challenges head on.

Additionally, your stress levels will begin to drop and you'll feel more in control of your money. Consider the old you. Trying to budget but feeling like you cannot get ahead. Ever hear "I'm trying to save, but something keeps popping up". With sinking funds things don't generally pop up. Instead you expected them and are prepared for them. Dare I say, you welcomed them.

Final Thoughts

I hope we drove the point home about sinking funds. They're simple yet powerful. A tool that can fit nicely into your general financial plan. I believe everyone needs and can utilize sinking funds. But remember, personal finance is personal. So it's your decision how and where you use them. Start slow to build that muscle. And watch as your financial plans become reality.

Whether you are saving for a down payment on a home, putting together an emergency fund, or just trying to find extra money at the end of every month, spending less is a great way to start reaching your financial goals.

There are several different ways that you can cut back on your spending. Here are 10 tips to help you get started.

1. Save At The Grocery Store

With record inflation and rising food costs, one of the best places to save money is the grocery store. Luckily, there are several ways for you to save money here, like:

Buying Store Brand Items

Most stores have their own branded items that are similar quality to products made by name brand manufacturers. These store branded products are often significantly cheaper than their counterparts.

Buying In Bulk

If you have the space, consider shopping at stores like BJ's or Costco. Buying in bulk normally comes with a discount per item in the box. If you don't have the space, shop with friends and family to split the items so you can still save.

Joining Store Loyalty Programs

Most chain retailers have loyalty programs that are free to join and offer benefits like discounts, coupons, and exclusive rewards for members.

Clipping Coupons

Another great way to save money is by clipping coupons. There are hundreds of couponing websites, online groups, and social media pages where you can find great deals.

Downloading Apps

Apps like Ibotta, Swagbucks, and Fetch Rewards can help you find sales, deals, coupons, and give you cash back just for buying groceries.

2. Cut The Cord

If you are still paying for cable, you are probably paying too much. Per US News, the average cost of a monthly cable subscription in the US is around $87 per month. Comparatively, the average monthly streaming service subscription, such as for Netflix, Hulu, and Disney+, costs $20 or less per month, even for the premium packages. Eliminating your cable bill and switching to one or two streaming services can save you a lot money each month.

3. Cook At Home

It’s no secret that eating out at restaurants is significantly more expensive than cooking at home. This is especially true if you are eating out multiple times per week. Those costs will add up fast.

By cooking more meals at home and by packing your own lunches for work, you can save significant amounts of money, while also getting healthier, more nutritious food.

4. Implement A Waiting Period Before Making Large Purchases

Impulse shopping is one of biggest ways that you can lose money each month. You can help curb your impulses by implementing a mandatory waiting period before making any large purchases. This will give you time to consider if you really need an item before buying it.

The best way to do this is by setting a period of wait time and defining the monetary value of a “large purpose”. For example, “I will wait at least two days before making any purchases larger than $100.”

5. Check And Cancel Automatic Subscriptions

Most people have subscriptions that they are paying for and not using or have completely forgotten about. Whether it be an old gym membership, a free trial that you forgot to cancel, or a service that you no longer use, cancelling these old subscription payments can put that money back into your pocket every month.

Don’t know what services you’re paying for? Download your last two months of bank statements and check for similar amounts on similar dates.

6. Shop Around For Lower Payments

There are several monthly payments that, while they cannot be avoided, can potentially be reduced. Some examples of this include your mortgage payment, auto loans, car insurance, and credit card bills.

Regular loan payments such as personal loans, mortgages, and auto loans can be reduced through refinancing. Check your interest rates against other current rates in your area and see if you can refinance with a lower rate to lower your monthly payment.

If you are not regularly shopping around for your insurance, you are probably overspending here as well. Regularly shop around for shorter term insurance policies, such as your car insurance and home insurance, to see what rates competing companies will offer you for the exact same policy. You may be surprised at how much you can save.

Lastly, if you have multiple credit cards or personal loans, consider consolidating them all in to one, often lower, payment with a consolidation loan through a local bank or credit union. On top of saving you money, only having one payment is easier to manage and reduces the chance that you miss a payment.

7. Do It Yourself

Rather than spending large amounts of money on home decor items, furniture, or certain cleaners, look in to making your own instead. Websites like Pinterest are full of examples of unique DIY recipes, projects, and ideas.

8. Change Your Mindset

Stop thinking of your spending in terms of dollars, and start thinking about in terms of hours.

For example, if you make $10 per hour at your job and decide to buy an item worth $30. That item didn’t just cost $30. It cost you 3 hours of time.

9. Set Up Auto-Savings

Set up your direct deposit so that every time you get paid, a certain amount goes directly into savings. That way you never even see the money that you’re saving and your savings can grow each time you are paid. Bonus points if the account is difficult to access. If you have to jump through a few hoops, you’re less likely to access your savings.

10. Track Your Spending

The best way to save money and spend less is by tracking your spending and creating a budget. Take a hard look at where you spent your money over the last week and month. Are there any trends?

You can then categorize your spending. For example, McDonalds can be the eating out category. While your favorite sushi restaurant is also eating out. Now look at the numbers again. Are you spending too much in any one category such as eating out or clothing? If so, that will let you know where in your budget that you need to cut back.

You can budget and track your expenses with pen & paper, a spreadsheet, or a budget app like Centsible. It doesn't matter which you choose. Just make sure it works for you to maximize your chances of saving more.

Conclusion

By spending less money, you can free up more cash flow to help you reach your financial goals. If you can create a system where you make money a priority, track where every penny goes, and control your spending, you will be in a better financial position in no time at all.

Money for some has become a taboo topic. Not only is it something we don't speak with others about, but money is off limits even to ourselves. It's no surprise so many people feel like they are struggling financially. What can we do?

It is important to first look and question ourselves and our actions financially. What's done is done, so do not to hold the present hostage to the past. Accept what has happened and to learn from it in order to make better decisions moving forward. We have 6 money questions you can ask yourself to get the ball rolling.

And for those getting into or have existing long-term relationships, it's important to have similar money questions for the partnership. Are you both on the same page? We'll list out 6 more money questions to get the conversations started. Let's dig it.

6 Money Questions To Ask Yourself

1. Do I have a budget?

The budget is the cornerstone of any financial strategy. Most financial literacy starts with a budget.

But what is a budget exactly? A budget is simply a plan for what you will do with your money. Often monthly, but it can be done weekly or yearly. In general this boils down to listing all income and expenses for the given period (week, month), then planning how you intend to spend/save money.

Why is this useful? For one thing, seeing all your expense helps clarify where your money is going. Knowledge is power. You cannot improve your financial situation without knowing where you are, or how you got there. Budgets clarify your position so you can begin to make changes. This is why the first question is asking yourself if you have a budget.

2. What kind of debt do I have?

Debt. We love to hate it. Or is it hate to love it? Depends on who you ask. But what is clear is that American's have a lot of it. According to BankRate, consumer debt sits at a whopping $16.5 trillion dollars. That is a lot of debt. When it comes to assessing your financial situation, you need to find out what kind of debt you have. Not all debt is created equally.

For example, mortgage debt is typically used to purchase a home or land, secured by the property itself. Mortgages are considered secured loans, meaning in the event the borrower cannot pay back the loan the lender can sell the property to recoup some money. For this reason you'll typically get a better interest rate assuming you qualify. Additionally mortgages are seen an appreciating assets, also known as "good debt".

By contrast, credit cards or other high interest loans are typically unsecured. Since there is no collateral in the event you default on the loan, these types of debt have higher interests. They are also considered "bad debt" because what it's used for either depreciates in value or has no value. An example would be a car loan.

To recap, look if you have good or bad debt. Bad debt will generally have higher interest and should be dealt with like an emergency. Pay it off as fast as possible. Good debt can be fine. But it can still be bad if the interest is high. For example, if your mortgage is hurting the budget due to the high monthly cost, consider refinancing or selling.

3. Can I contribute to a retirement account?

We all know how important saving for retirement is. Obviously if available, set aside money for retirement using a tax advantaged account like a 401k or IRA. It's paramount to take advantage of compound interest.

But here is an even more important question to ask yourself: does the company offer you a match when contributing to a 401K? Some companies offer to match whatever percentage you choose up to max to put in your retirement account. For example, if you put 4%, the company matches 4%. That's free money! This is why we recommend at a minimum take advantage of a company retirement match.

4. Do I have an emergency fund?

Emergency funds. We all know we need them. Yet a survey of 56% of Americans say they cannot cover a $1000 emergency with savings. Odds are if they didn't have enough for a $1000 emergency, getting into debt will only result in a vicious cycle of more debt.

Conventional wisdom says you need at least three to six months of expenses. This will vary based on individual circumstances. With no dependents a three month emergency would be fine. If you have kids, six months might make you more comfortable. Either way an emergency fund cannot be overstated.

If you don't have an emergency fund, start with saving $1000. If you have high interest debt, focus on paying that off before beefing up the emergency fund to the recommended three to six months.

5. What are my financial goals?

Creating short and long term goals are an extremely important part of a sound financial plan. Without them what would drive you? Or maybe your spending is high because you don't have a goal to focus your saving. Either way you need to sit down and ask yourself what you need and want.

Some example ideas to get you going:

• Travel more
• New Car
• Donate to charities
• Buy a home
• Save an emergency fund
• Retire early
• Renovate kitchen
• Save for kids college
• Save for wedding
• Be debt free

6. Is my spending and saving aligned with my goals?

It's important to be honest with yourself. What if you spend most of your disposable income on eating out or entertainment. You are young and want to have fun. But you also want to save for a down payment on a home. You also need a car. Maybe you want a big wedding.

This is why creating goals and aligning your expenses with said goals is important. With a plan in hand you can focus on what's important to you while also having fun now.

6 Money Questions To Ask Your Partner

1. What are your spending and saving values like?

I don't need to tell you how difficult it is to deal with a spender when you are a saver, or vice versa. Although this may cause tension, it doesn't have to. Instead choose to be up-front about your money values. Ideally this conversation should occur early in the relationship. But better late than never, right?

Rather than be upset with how someone else is, talk about it to understand them. Maybe their childhood was rough financially. They could have an unhealthy relationship with money. Or the unhealthy one could be you. Talking candidly about money is a great relationship builder.

2. What are your/our financial goals?

Money is hard enough as it is. Adding another person to the mix doubles the fun. Not only must you work on your goals, but you must contend with a partners goals. Each person is equally as important. How do individual goals fit into the family picture?

Unfortunately most people do not have unlimited funds to easily cover everyone's goals. Instead we must work together and create a plan for both parties. Maybe buying a home is important. But traveling is difficult because the other partner wants kids. Regardless of the situation, communicating your goals to create shared ones is important.

Here are some example goals that often overlap among people:

• Buying a house
• Retiring early
• Traveling
• One income household for stay at home parent

3. Where do you see yourself in 10 years?

This one may not seem too important if you and your partner's financial goals align. But what if how you get there is not?

Some important questions that change the equation:

• Do you want kids?
• Will one of us stay home to raise the kids?
• Do you want to move to a new city?
• Do you expect to be in the same career or do you want to make a change?
• Do you expect to work a lot more due to a demanding career?

These are simply examples and may not relate to your relationship. But it is important to think about someones plans for the future. Maybe they moved to the city because of work, but intend on moving back to the suburbs or near family later in life. Kids may also affect income due to daycare or one person staying home raising them. Don't only think short term, but long term as well.

4. What are your non-negotiable financial items?

This one is very simple and something to be discussed early in the relationship. Everyone has wants they don't want to give up. Some examples include:

• Latte's on the way to work
• Eating out for lunch on work days
• Traveling
• House cleaning (because who likes to clean)

It's important this is discussed before moving in together. But if it's too late, no worries. If you find you and your partner argue about these things, maybe it's not worth the fight. Make it a non-negotiable and build it into your joint plan. There will be a lot less fighting and more enjoying.

5. Do you have any debt?

There have been stories of people engaged when a bombshell hits. Not cheating. But finding out your future spouse has $100,000 in student loans. That is scary.

It is very important that you and your partner have the conversation about what your financial picture is like. It is a lot easier becoming a union when there are no secrets. With all the cards on the table you can work as a team.

6. Who will pay the bills and manage finances?

This one is important to outline early as well. Who will be in charge of the bills? Will it be split evenly? 60-40? 20-80? The reason why this should be discussed early is because once a status quo is set, changing it could cause big problems.

There is no right answer here. But some things to consider.

• Who makes more? They can take on a greater percentage of the bills.
• Do you not care about tracking expenses? One person can track and take care of pooling all the money together.
• Consider a joint account simply for paying bills, or using an app like splitwise to help track it.

Conclusion

We hope these 12 questions to ask yourself and your partner helped in getting the ball rolling on your financial plans. Regardless if it's with yourself or with your partner, it's important to be open and communicative. That is the first step to a rich life.

Do you get a paycheck and see it disappear right before your very eyes? You are not alone. Approximately 64% of Americans are living paycheck to paycheck according to a report by LendingClub. For this reason it is increasingly important to find ways to save money from your salary. Let us look at some tips to get you started.

6 Tips To Save Money From Your Salary

1. Set savings goals
2. Create a budget
3. Use direct deposit to split your paycheck
4. Lower your living costs
5. Try using cash only
6. Max out retirement accounts

Tip 1: Set savings goals

In order to save money, you first need to set some savings goals. This will help you stay focused and motivated when it comes time to put your money away. The best way to start is by setting simple, achievable goals. Here are a few tips for creating effective savings goals:

Know how much you need

The first step in creating any savings goal is knowing how much money you need to save. This may take some research on your part, but it is worth it in the end.

Make a plan

Once you know how much money you need to save, make a plan for how you will achieve that goal. This may include setting aside a certain amount of money each month or week, or finding cheaper ways to live.

Stay motivated

Saving money can be difficult, especially if it seems like you are not making progress towards your goal. To stay motivated, find a friend or family member who can help keep you accountable, or reward yourself with something nice once you reach your goal!

Tip 2: Create a budget

One of the best ways to save money is by creating and following a budget. A budget will help you track your expenses and figure out where you can cut back on spending. There are many different ways to create a budget, but the best way is to find one that fits your individual needs. Here are a few tips for creating a budget that will help you save money:

Find a system that works for you

The first step is finding a budgeting system that works best for you. There are many different types of budgets, from the 50/30/20 rule to the envelope method. Choose the one that best suits your lifestyle and stick with it!

Track your expenses

Second step in creating a successful budget is tracking your expenses. This means recording every penny you spend each month. This may seem like an unnecessary task, but it is very important if you want to stay on track financially.

What Can I Cut Back On?

You have tracked your expenses, take some time to analyze them. Figure out where you can cut back on spending based on your expenses and budget.

Tip 3: Use direct deposit to split your paycheck

Many employers offer a feature where you can split your direct deposit into multiple bank accounts. This will help you avoid temptation and make it easy to save your money automatically. Bonus points for direct depositing your savings into an account that is difficult to access.

In order to ensure your taxes are paid every year your employer removes taxes from your pay. Using this method works similarly. Before you spend the paycheck the savings portion will be direct deposited into a separate savings account. Out of sight, out of mind.

Alternatively banks do offer automatic bank transfers. You can time a transfer after you expect the direct deposit to land in your account. The only downside here is the temptation. But this does work for many people.

Tip 4: Lower your living costs

There are many different ways to lower your costs and have more money left at the end of the month. One effective way is by cooking at home instead of eating out. This can save you a lot of money, especially if you cook meals that are high in protein and fiber. Additionally, you can save money by choosing cheaper transportation options, like biking or walking instead of driving.

Another great way to save money is by shopping around for the best deals on groceries and household items. Or you can try shopping in bulk. Stores like Costco or BJ's sell items in bulk, which usually end up being cheaper per unit. The only catch is you'll need the space to store the bulkier items. But it's an effective way of lowering your monthly costs.

We could go on and on. Here are a few more:

• If you are single, getting a roommate can help lower the cost of most peoples largest expense - rent.
• Shop on sales. But the key is don't buy more than you would have otherwise bought, or the savings would be erased.
• Buy generic. I've seen price differences up to 40% by doing this.

Tip 5: Try using cash only

Using cash only can be a great way to save money. When you use cash, you are less likely to overspend because you are limited to the amount of money you have. Additionally, by using cash you will avoid the fees associated with using a credit or debit card. This can add up to a lot of money over time! It matters now more than ever because it seems many merchants have begun adding on card fees due to inflation.

If you want to start using cash only to save money, here are a couple of tips:

Start small

If you are not used to using cash, start small. Begin by using cash for small purchases, like coffee or lunch. This will help you get used to carrying around and spending money.

Use an envelope system

An effective way to use cash only is by using the envelope system. With this system, you create envelopes for each category of your budget, like groceries, entertainment, and transportation. This will help keep your spending organized and prevent you from overspending.

Tip 6: Max out retirement accounts

Contributing to your retirement account is one of the smartest financial decisions you can make. Not only will it help you save for retirement, but it will also help you reduce your taxable income. Talk about a win-win.

Before deciding how much to contribute to your retirement account, take some time to review your budget and expenses. Figure out what percentage of your income you can comfortably contribute without putting strain on your budget. This may not be the same for everyone, so find the contribution level that works best for you! Try and max out the total you save. For example, in the US the total yearly contribution will be $22,500 for 2023. Not too shabby.

Note that when calculating your savings rate per month your retirement savings counts towards that too. So if you aren't saving as much cash, you are still saving with a retirement account.

Frequently Asked Questions

How Much Should You Be Saving

Saving money is important, but it can be difficult to know how much you should be saving each month. A good rule of thumb is to try and save at least 10-20% of your income each month. This may seem like a lot, but it is important to remember that the more you save, the more comfortable you will be in the future.

If you are just starting out and don’t have a lot of money saved up, try to gradually increase your savings each month until you reach the 10-20% goal. This may take some time, but it is well worth it in the end.

Where To Put Your Savings

There are many different places to put your savings, and each person will have their own individual preference. However, there are a few general guidelines that can help you get started. Here are a few tips for choosing a savings account:

• Look for an account with a high interest rate. This will help you earn more money on your savings over time.
• Choose an account that is easy to access or easy to liquidate. This will make it easier to get your money when you need it.
• Make sure the account is FDIC insured. This will protect your money in case of a financial emergency.

What If I Can't Save 20%?

What if you are struggling to save the 10-20% recommended each month, even after applying the above tips?

Firstly, start small. If you can only set aside 50 dollars, do it. But make sure you are budgeting diligently. Overtime what seems like a small amount money will begin to add up. As your budgeting improves you'll be able to spot things that can be improved.

Since there is a limit to how much money you can cut from your budget, the only other big improvement is increasing your income. There are several ways to do this.

• Get certifications
• Go back to school part time to gain a new skill
• Talk to your manager about what you need to do to get a raise
• Get a second job.
• Try Uber, Instacart, or other gig work.

This is all easier said than done. Having a strong support system is important here. Google support groups around saving and paying off debt. Just remember that you are not alone.

Conclusion

Saving money can be hard, but with the right plan and determination the above tips can help you save more of your paycheck at the end of the month.

I was recently giving advice to someone on keeping track of expenses and budgeting with cash only. Although I built Centsible to bring the cash envelope system digitally, I highly recommend using envelopes to budget cash. But what is the cash envelope system?

What Is The Cash Envelope System?

The cash envelope system is a method of budgeting where you label envelopes with specific spending, also known as categories, then put money into the envelope that represents how much you intend to spend on that particular category. For example:

• Groceries
• Gas
• Eating out

The defining factor of this method of budgeting is that instead of carrying around all your cash, you pre-plan and only carry the envelopes with the specific categories you need to spend. Let's say you are going out to eat with a friend. When you leave you only take the eating out envelope and not any other envelopes, like groceries.

If this sounds like something called "cash stuffing", it's because that's the new popular term for it.

Why Use Cash Envelope Categories?

The cash envelope system is best for people who either deal exclusively with cash or really need to get their spending under control.

A recent study by the MIT Sloan School of Management found that spending on credit cards serves to "step on the gas, driving more spending". In essence it disconnects you from the cost of the item. This is contrary to what spending is like with cash. A previous study by Avni M. Shah showed that spending with cash is painful. The pain, as it turns out, actually made the buyer value the thing they bought more.

So if you have a spending problem, the easiest thing you could do is to go straight to cash. This will bring you two benefits. First, you'll be using psychology to beat your brain. Secondly, it's impossible to overspend when you only have cash. When was the last time a store allowed you to buy something greater than the amount of cash you had on hand?

How To Budget With Cash Envelopes?

Budgeting with the cash envelope system is extremely easy. You need only two things: envelopes and cash. Duh. If your money is in a bank account, just withdraw the cash you intend to budget with. You are now ready to budget.

1. Label each of your envelopes with the spending you expect to do. For example, one envelope will be labeled groceries. Another will be labeled eating out.
2. Decide how much money you intend to spend on each category until you get paid next. Then you will place that amount in each envelope. Place every single dollar in an envelope.
3. Before leaving home to spend money, take only the envelopes you need for spending.
4. When shopping only use the money that is available in the corresponding envelope. For example, if dining out look at how much you have in the envelope. If the meal will cost more than what's in the envelope, find a more affordable place, or pick a cheaper item.

Recommended Cash Envelope Categories

If what you have read sounds right up your alley but are wondering what categories to start with, we got some great starter cash envelope categories for you.

If you are just getting started it is highly recommended you begin with items you tend to overspend. For example, eating out and clothing are big ones. Below is a list to get you started.

• Groceries
• Eating out
• Drinks
• Gas
• Clothing
• Hair/Makeup
• Discretionary spending
• Entertainment
• Gifts
• Pet splurges
• Seasonal celebrations (Christmas, Halloween, etc.)
• Coffee
• Toys

If you noticed from the above list, it does not include monthly spending items like rent, electricity, internet, or car payment. Why?

You could theoretically create envelopes for every spending item you have. A lot of people pay rent in cash. If that's your situation, you can create a cash envelope for rent. But rent is not something you overspend on a monthly basis. If your rent is $1000, until the end of your lease it will still be $1000. Groceries, eating out, clothing, and hair products are all things that can bust a budget. By making the purchases in cash you decrease the chances of overspending.

Do I Use Regular Envelopes?

You might be asking yourself what kinds of envelopes you should use. This is where circumstance and preference comes in. In general it's recommended to just start with regular envelopes you can get at a local office store. They are plain and boring, but they get the job done. Plus they are cheaper than the fancier alternatives.

If you want to have fun with it you can use special envelopes specifically designed for "cash stuffing". They come in difference sizes depending on your needs. They make them small where you need to fold the bills in order to be able to carry it discreetly. Or if you have a purse and don't mind bigger envelopes, you can get them so you can fit the bills whole. They even make purses and books that come with slots for envelope budgeting.

What If I Have Leftover Money?

There is nothing wrong with spending 100% of the money in your envelopes. It's a plan you set. Hopefully your plan was able to include savings so you don't feel guilty spending. But if you happen to have money left over, what do you do with it? There are a few options.

• Roll it over into the next month in the same envelope. For example, you planned to spend $200 on groceries last month. Say you ended up with $50 leftover, now you have $250 for groceries this month.
• Take all the leftover money and put it towards debt pay down.
• You can put the money towards a savings goal. Maybe a vacation or new washer & dryer.

Physical or Digital?

Hopefully you found the example cash envelope categories useful. Lots of people find it exciting to budget with envelopes. But what if you would prefer a digital version?

That is why we created Centsible. You enter your income and can only budget the money in your bank accounts. You can create as many categories as you please and move money between them. Transactions must be entered manually in order to keep you involved with your budget.

Or you can look for another app that works for you. Doesn't matter what you choose, make sure it works for your lifestyle. Good luck and happy budgeting!

Finding the right budgeting style and app to go with it can be hard, but we can simplify it by trying the Kakeibo method. But what is Kakeibo?

Kakeibo is a Japanese style of budgeting. What makes this type of budgeting different is that it asks you to manually track your expenses daily while journaling your observations about your spending throughout the month.

What Is The Kakeibo Method?

Kakeibo translates to Household ledger. It was created by Motoko Hani, considered to be Japan's first female journalist. She first introduced Kakeibo in a magazine edition in 1904. The system was geared towards housewives to help them manage their household finances.

When practicing Kakeibo you must ask yourself four questions:

1. How much income do I have?
2. How much do I want to save?
3. How much am I spending?
4. How can I improve?

Although some of these questions follow a similar path as budgeting in the west, Kakeibo flips that on it's head by asking you to be mindful of your finances by writing it all down in a journal.

In this journal you both track your finances and write down your thoughts and observations throughout the month. Doing this makes you intentional with how you spend your money.

How To Use Kakeibo?

Kakeibo has a simple method to get you started. It focuses on four main categories:

1. Needs
2. Wants
3. Culture
4. Unexpected

Needs

Needs is pretty self explanatory. They are things we cannot live without, like food, rent, toilet paper, shampoo, etc. It's very important you are honest with yourself here. Just because you feel like you can't live without ordering from Amazon or Target does not make it a need.

Wants

Another self explanatory category are wants. This is where you can add your Amazon or Target addiction. Maybe you like fashion, or just going out to dinner with friends. Those can go here.

Culture

What is life without culture. This can be thought of similarly to entertainment. Movies, video games, concerts, etc. But it can also be museums or books.

Unexpected

Life sometimes throws us curveballs? We should probably plan for emergencies here. Car repairs, medical bills, etc.

What Is Centsible?

Centsible is a budgeting app that's built on the principles of envelope budgeting. In envelope budgeting you:

• Get envelopes and label them after your spending (ex: groceries, rent)
• Take all your cash and divvy up the money between all the envelopes.
• When it comes time to spend, you take only the envelope you need. For example, if you were going to the grocery store you wouldn't take the electricity bill envelope.

Envelope budgeting was popularized in a time before credit or debit cards. So if you were wondering why anyone would do that in the credit/debit age, that's why. In the old days you could not spend money you did not  have. So it was important to spend mindfully. Otherwise you might not have money for food.

Today you can overdraft or use credit. But that's not good. Digital envelope budgeting mimics the mindfulness of the traditional envelope system, but with credit/debit cards.

How to Use Kakeibo In Centsible?

If you like the idea of Kakeibo but want to pair it with an app vs pen & paper, Centsible might be exactly what you need.

Kakeibo and Centsible are very similar in a few ways:

• They both utilize categories in order to track expenses.
• Both require you to look at your current income.
• You also need to manually track your expenses for both.

That being said, Centsible is different in one main area. You do not have to journal your process since all your finances are available on your phone. This doesn't mean you should not carefully consider every spening decision. You will get the most out of Centsible if you do. Let's take a look how this looks.

Enter you income

In Centsible you can start by adding your checking and savings accounts. The app will tally up all your income so you can answer the "how much income do I have" question. You do that by navigating to the accounts tab and selecting the plus icon.

Then once you add all of them, navigating back to the budget tab at the top you will see your total available income to budget with.

Enter your categories

When creating a budget in Centsible you get some default groups and categories to logically separate everything. But you can rename the existing ones to match the Kakeibo categories.

You can add more categories under each group by clicking the plus icon and selecting whether you want to add a new category or edit the group name.

Fund all your categories

The cool part about budgeting with Centsible is funding your categories. This step is the part where you ask yourself how much you want to spend with the "Available Funds" you have. Just like Kakeibo, Centsible helps you be more intentional about how you intend to spend your money.

If you remember when first adding your income, the "Available Funds" was $3,000. But now it's $1,500. This is because you said you want to spend $1,500 on your rent. You now must fund the rest of your categories with the remaining $1,500. If you have a savings goal this is where you can create a category and fund it. Remember, in Kakeibo the goal is to help you save money.

Track Spending

Kakeibo expects you to track your expenses daily and be mindful of your spending.

You can easily track expenses with Centsible. Simply click the plus icon by the bottom tabs and you'll be able to enter transacations manually. We believe manually entering transactions is necessary in order to keep you aware of your budget. By using an app you can even enter your transactions at the moment you make them. I'm sure the cashier won't mind.

Evaluate the end of the month

The last point to look at is the final Kakeibo step. How can you improve. Centsible offers several ways of being able to track your budget.

Once a month is over, you can easily visit the previous month to conduct a post mortem on how you did. Does how the month ended match your plan? Were your savings categories affected? Or were you able to save exactly as you planned?

Additionally Centsible has some simple built-in reports to visualize your spending.

Centsible and Kakeibo

We believe the Kakeibo method goes well with Centsible. It is free to try. Check it out at centsible.app. But if you feel like you'd prefer pen & paper, we think that's a great choice as well. Happy budgeting!

I was shopping on walmart.com the other day when I stumbled upon their slogan, "Save Money. Live Better". That got me thinking how we all want to save money, but do we live better?

Below are 6 ways we can do both:

1. Focus on your health.
2. Get rid of the physical and digital clutter.
3. Create or update your budget/goals.
4. Take homemade food to work.
5. Look for free events in your city.
6. Join your local "Buy Nothing" Facebook group.

Focus on your health

This one might not seem obvious, but a healthier you means enjoying life longer and less expensive visits to the doctor. You are playing the long game on this one.

The easiest place to start is sleep. I recommend the book Why We Sleep by Dr. Matthew Walker. In the book, Dr. Walker goes through all the benefits of sleep. Of particular importance is improved cognitive ability since this should help you make better financial decisions.

The other obvious one is exercise. Exercise is linked to a reduction of chronic diseases. Not to mention it release endorphins, so it will make you feel good. Working out at home will help reduce the cost. Maybe a video program or just running in your neighborhood.

You won't see an immediate savings, but over a lifetime it will pay back dividends.

Get rid of the physical and digital clutter

Ever have a messy home? Remember that feeling right after cleaning; how good it felt to see it that way? Would be nice to have that feeling every day. You can use the KonMari method to help with that. The plus side here is as you are coming across items that do not bring you joy, you can sell stuff in a garage sale or on Facebook Marketplace. Win win.

The same can be said about your digital life. Maybe your phone or email are running low on storage. Instead of buying a new phone with more storage or paying for gmail premium, get rid of the things that are not important.

One last important point about this one. Going through your email and bank account statements find subscriptions you are not using. Maybe you have Netflix, Hulu, HBO, Apple TV, and Disney+. That's a lot of TV. Are you really watching all of those? Cut some of those subscriptions to save some money to put elsewhere.

Create or update your budget/goals

Sometimes when going all out saving money we can forget what is really important. We cut costs everywhere to do it, but to the detriment of living a better life. I am by no means saying you should not be gazelle intense in order to achieve a financial goal. Beans and rice in the short term when you have a plan is totally fine. But it's not sustainable.

Instead you should go through your budget and re-evaluate what's important to you. Maybe you cut eating out, coffee, and vacations from the budget so you can spend less and save more. It's possible in six months to a year things have changed.

You could have met someone, and now date nights are important. Groupon and other services are a great source of deals for things to do on a date while on a budget. Visiting a new country could be on your bucket list. Plan to take a trip in two years. It's much easier to manage saving for two years on a tighter budget. Book the flights on an off season when they tend to be cheaper. Looks for deals on tours and other things to do while you are overseas.

Take homemade food to work

I don't know about anyone else, but I use to eat out for lunch every day when I would go into the office. This was quick and easy and allowed me to focus on work. But boy is it expensive.

A typical lunch in a big city is about $13 bucks. That's $65 a week, $260 a month, and a whopping $3120 a year. Think about all the things you could do with that money. Vacation, new computer, or a Beyonce concert. The point is it's pricey.

Instead why not cook meals at home and take them to work? The cost can be cut down to under approximately $4 a meal while being able to make the tastiest recipes. You can cook together with your family and friends, making it a whole experience for everyone.

If your colleagues go pick up food, you don't have to eat alone. Ask if they'll eat in the office so you can time heating up your food when they come back to eat.

Look for free events in your city

One of the joys of life are experiences. To that end we always look for places to go and things to do. This can get pricey, especially in a big city. Instead you should consider looking for free things to do. Some great ideas:

• Go camping or hiking.
• Free concerts or outdoor festivals.
• Host a picnic or potluck.
• Check out groupon free deals.
• Museums (sometimes free).
• City parks host free events perfect for kids.
• Your child's school sometimes hosts free events.

There are more depending on your area. Facebook sometimes has local groups that broadcast free things happening around you.

Join your local Buy Nothing Facebook group

This one is a bit of a hidden gem. On Facebook there are sometimes groups where people just post things they don't want anymore. It's called a Buy Nothing group. Instead of throwing things out, give them away. These types of groups are great for the environment since items can be reused multiple times by different families.

We once got an expensive baby jumper off a Buy Nothing group. Apparently they got it from another family, meaning the jumper was enjoyed by at least three different babies. Pretty cool. Did I mention it's also a great way to get to know people?

You can save money and live better

It is possible to save money and live better. You just need to stop and evaluate whether why you are saving money is helping you live that better life. We have but one life, let's make the most of it.