I do not believe in a paper exercise budgeting technique with spreadsheets, apps and ever monthly reviews. Its like calorie counting diet for weight loss. Real healthy people to not go on diet. They live a lifestyle which they understand the fundamentals of health. Same can be applied to your financial health.
Fundamentally we need to live within our means. We need to understand that we can only spend a certain percentage of what we earn and save at least 15-25% for our savings. We should not let banks, credit cards, loan dictate how much we can borrow. This way everyone would be living in endless cycle of debt. Buy or Rent places which you can afford. Only buy good and services within your means. Once in a while we can also have a ‘cheat’ day where we go beyond. However, we need to save up before we buy that special item, holiday, car or service which we always dream of. End of the day everyone needs a goal in our lives to push ahead. Hope you find this useful!
Two Super Tips on How to Save Money Further!
Always save up and spend on good quality luxury goods once in a while as a reward over impulse shopping buying & hoarding. Sometimes we need to reward ourselves. Similar to eating good quality Michelin Restaurants over fast food franchise chain food store.
Honestly the air miles accumulated for the year is sufficient for 2 short breaks a year to a different city for family of four all inclusive. Its like free money.
Family Traveling Guidelines
I have used all 4G networks in the UK and the one I highly recommend is Three Network. My 3 key recommended points are a) unlimited data b)Free data roaming in EU and US (>71 countries) c) simple honest easy bills. I do not need to carry a GPS unit as I have Google Maps on phone.
As a young family of four, we always go for accommodation where we can have a kitchen to cook at night as our kids go to bed early. With the rise of AirBnb we can afford better accommodations with friendly host with bigger and more affordable accommodations compared to hotels!