7 Quick & Easy Budgeting Tips for 2020 & Beyond

Looking to the future: start budgeting for 2020 and beyond.

Are you looking forward to the future? You should be! Your future can be incredibly bright if you start budgeting for 2020 now.

In the past, we have helped you set a budget for your apartment and hunt for the perfect apartment. But now, it’s time to set your sights on some new goals.

Would you like to travel more, buy a new car, or save for something bigger? We have seven simple and easy budgeting tips that are a super quick read.

#1: Know How Much You Make

Do you know how much you make in a month? That dollar amount is going to be key for budgeting in 2020 and beyond.

Start with looking at the income amount in your checking account. If you don’t keep up with your deposits (direct or not), you need to start! There is no excuse for being oblivious when every paycheck is so precious.

If you don’t make a consistent amount with each paycheck, go back into your income for 2019 and calculate the average amount you brought in each month. That will give you a ballpark figure for estimating your 2020 expenses.

#2: Set Yourself a Payment Schedule

You should know when your apartment rent is due here at Bowman Pointe (Hint: it’s late after the fifth day of the month!) and that you get charged $25 extra if you don’t utilize an automatic bank draft. But, do you know when all your other expenses are due?

Car insurance, loans, phone bills, electricity bills…when are all your payments due? You should have all these due dates marked in your calendar. Set yourself reminders to check your bank account balance and make these payments every month!

If you don’t set yourself a schedule, you may as well kiss better budgeting for 2020 goodbye. Getting organized and sticking to your calendar will help you avoid late payments, late fees, and dings to your credit score.

#3: Use Your Credit Card Wisely

Some money experts will tell you not to even own a credit card (hello, Dave Ramsey). But we know that’s just unrealistic for most people.

Instead, we will advise you to use your credit card more wisely. Don’t use it on expenses you will be unable to pay off quickly. You don’t need to have a lingering balance that accrues tons of interest and harms your credit score.

Instead, use your credit card on expenses that provide you with perks! So many credit cards out there earn you flight miles, cash back, and more. Do some research and create a credit account that works for you, not against you.

#4: Start a Savings Account

Historically, the statistics on savings in this country have been staggering. 28% of people go without having emergency savings, 58% have less than $1,000 saved, and 75% do not utilize a high-yield savings account.

Wouldn’t you like to be on the right side of this data?

If you don’t have a savings account, do yourself a huge favor and start one in 2020. If you don’t have a lot saved, start stowing away a realistic amount each month. If you haven’t done any research on high-yield savings accounts (which offer higher interest rates than traditional savings accounts), do some!

#5: Stop Wasting Money

No matter how financially stable you are, you need to stop wasting money. Even the wealthiest of people are budgeting for 2020, we promise you!

An easy way to make more room in your budget is to stop wasting money. Living at Bowman Pointe affords you so many avenues for making this happen.

For example, you can save money on coffee, movie tickets, gym memberships, and more by utilizing the free amenities in our community. With our energy-efficient apartments, you save a ton on energy bills, too!

ApartmentTherapy.com also recommends being more mindful of your habits to save some money. You don’t need to wash all your clothes in hot water, leave all your electronics plugged in, or keep all your lights on while you’re at home.

#6: Use Online Budgeting Tools

The Internet is awesome. There are so many free and easy-to-use tools and apps out there to help you with budgeting for 2020:

If none of these sound appealing to you, check with your bank. Most also offer online budgeting tools that could be very useful for you this year.

#7: Talk to Someone

If you need more in-depth assistance to start budgeting for 2020, talk to a professional. Set an appointment with someone at your bank, meet with an accountant, or talk to a financial planner.

You don’t have to go it alone to be successful. Take all the help you can get to think bigger and be better next year and beyond!

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