9 Basic Budgeting Tips for Beginners

1. Set Clear Goals: Define what you want to achieve with your budget—whether it’s saving for a holiday, paying off debt, or building an emergency fund.

2. Track Your Income and Expenses: Start by recording all sources of income and all your expenses. Use a simple spreadsheet or a budgeting app to keep things organised.

3. Create a Budget Plan: Based on your tracked income and expenses, allocate funds to various categories like housing, groceries, entertainment, and savings. The 50/30/20 rule can be a helpful guideline: 50% for needs, 30% for wants, and 20% for savings.

4. Prioritise Necessary Expenses: Focus on essential living costs first. Ensure that bills like rent, utilities, and food are covered before allocating money for discretionary spending.

5. Review Regularly: Your budget isn’t set in stone. Review it monthly to assess your spending habits and make adjustments as necessary. This will help you stay on track with your financial goals.

6. Cut Unnecessary Costs: Identify areas where you can cut back. This might mean dining out less, cancelling unused subscriptions, or opting for more budget-friendly alternatives.

7. Build an Emergency Fund: Aim to save at least three to six months’ worth of living expenses. This financial cushion can provide peace of mind and help you avoid debt during unexpected situations.

8. Avoid Impulse Buying: Implement a waiting period for non-essential purchases. If it’s not a necessity, wait 24 hours before deciding to buy it.

9. Stay Disciplined and Patient: Building a solid budget takes time and discipline. Celebrate small wins along the way, and remember that financial stability is a journey, not a sprint.

As the new school year approaches, it's time to stock up on essential supplies without breaking the bank. One of the best places to find affordable items is your local dollar store. Here are eight school supplies you should be picking up:

1. Notebooks: With a variety of sizes and styles, you can easily find notebooks for every subject. Opt for the ones with perforated pages for easy tearing.

2. Pencils and Pens: Stock up on basic writing utensils. The dollar store often has bulk packs, ensuring you never run out during important exam periods.

3. Folders: Keep your assignments organised with colourful plastic folders. They’re sturdy, easy to clean, and will help you avoid the dreaded lost homework syndrome.

4. Highlighters: Make your studying more effective with vibrant highlighters. Whether you're marking important passages or colour-coding notes, you can grab a few colours for just a pound.

5. Sticky Notes: Perfect for reminders and quick notes. These handy little pads can help keep your study space tidy and your mind organised.

6. Glue Sticks: Ideal for arts and crafts projects, glue sticks are a must-have for creative assignments. The dollar store usually offers them in multipacks.

7. Rulers: A sturdy ruler is essential for drawing straight lines and measuring accurately. Look for ones with both metric and imperial measurements.

8. Backpacks: While more stylish options are available elsewhere, you can find practical and durable backpacks at dollar stores, perfect for carrying your supplies around school.

With these essentials in your back-to-school arsenal, you’ll be well-equipped to tackle the academic year ahead—all without breaking the bank!