I know that managing finances can be an added stressor. When you’re dealing with limited income, it can feel overwhelming and challenging to make ends meet. I’ve learned that budgeting can be a powerful tool to take control of my finances and find contentment, even with limited resources.
The first step I took in budgeting was to create a realistic and detailed budget by listing my income sources and expenses, including bills, rent, groceries, transportation, and any other essential expenses. I also made sure to track my spending and identify areas where I could cut back, such as unnecessary subscriptions or eating out.
I found that my biggest expense was food. I definitely had to reel that in. I often would forget to eat and then while out running errands I’d end up eating out. I created a meal plan that I’ve learned to stick with. My food expenses have reduced significantly plus I have little to no wasted food.
Next, I prioritized my spending based on my needs rather than wants. I distinguish between essential expenses and discretionary spending, and make intentional choices about where to allocate my resources. I also looked for ways to save money, such as using coupons or discounts, shopping at certain stores that are less expensive and finding free or low-cost activities for entertainment.
I also sought support when needed. I learned that there are resources available in the community, such as financial education programs or assistance programs, that can provide support and guidance in managing finances with limited income. Some churches offer financial courses, and the county I live in offers free tax help during tax season.
One of the most important lessons I learned in budgeting was to shift my mindset from focusing on what I didn’t have to appreciating what I did have. I practice gratitude and mindfulness, finding contentment in simple pleasures and learning to live within my means. I love to be outdoors and walk on the paths or go to parks.
If you have any ideas on budgeting leave a comment. We can all learn from each other.