budget | Journey

4 Tips for Setting a Personal Budget

By Job Journey on Monday, October 10, 2016

For many, the word “budget” is a negative term often compared to a diet in the way that you have to give up things you love. A personal budget is a plan to help you build a solid foundation of financial wellness so you can do and have the things you want without hurting your financial future. At the core of budgeting, there is one common principle—track all of your expenses to see where your money is going.

After tracking your expenses, you may realize that you are spending more than you’re making. Draw a line between your wants and needs. Remember living within your means can keep you from drowning in debt.

Keep it simple

1. Outline your financial goals.

Are you saving to purchase a car or house, pay off debt, or save for a vacation? Be specific on how much you need to save and how long it will take to achieve your overall goal. This should help you plan how much to save monthly. Make sure your goals are achievable.

2. Track Your Income and Spending

The main idea of a budget is help you spend less than you’re bringing in. To get started, list your income and monthly expenses. Keep track of all your expenses, everything from your morning cup of coffee to property taxes to see where the money is going. Remember, expenses like your mortgage or car payment likely won’t change over time, however expenses like your electric bill can vary depending on the time of year.

3. Identify Ways to Save

Develop a wants-and-needs list to help identify where to start trimming your spending. Most financial experts recommend earmarking 40% of your earnings for necessities such as housing and utilities and 10% in an interest-bearing account or a tax-favored 401(K) plan. Look for creative ways to save, for example make coffee at home instead of spending $4 a day; $20 a week, or $80 a month. Remember small savings can add up to a huge surplus.

4. Stick To It

Review your budget on a regular basis.
Stay focused on your goals.
Be sure that the budget accurately reflects your spending and be prepared to make additional adjustments.

A surplus in your monthly budget is right around the corner and puts you one step closer to achieving your overall goal.

Do you have tips for setting and sticking to a personal budget? Let us know in the comment section!

At Work Work/Life Balance

6 Fav Apps That Can Help With All You Have to Do

By Rachel Rudisill on Monday, May 13, 2013

With our constant tie to devices like tablets, smartphones, and computers, consider downloading more than just entertainment apps. Look into apps that can help you with work and life. The app choices are overwhelming, but here’s a short list of popular apps to help you begin your exploration beyond downloading Fruit Ninja™ and Angry Birds™.

Apps for Organizing Content
For all the data and experiences you take in, Evernote offers a solution to store it. From notes, documents, photos, web pages, and more, Evernote allows you to gather, organize, and access it all. Other app options for storing information and taking notes include Springpad™ and Google Keep. For a quick overview of the three platforms check out this article.

Time Tracking Apps
If you wonder where your time goes, you might consider a tool like timr or Gleeo™, applications that allow you to track your time. Make sure the ways to access the application are compatible for your work environment to make keeping track of tasks and projects simple. Plus, with extended use, you’ll be able to see how long things take and do a better job of managing your workflow.

To-Do List Apps
Using an app for your to-do list can make it easier to categorize, update, and manage your tasks. With apps like Remember the Milk™ and Wunderlist, you can create tasks and visually organize them to your liking as well as set priorities, timelines, and even map your tasks to be more efficient with errands. The applications also offer the ability to share tasks and lists with others, allowing you to share with co-workers and your family.

What apps do you use to help organize your life? Let us know in the comments section below.

At Work Teamwork The Daily Grind Workplace Goofs Workplace Relationships

Tackling Costly Celebrations at Work

By Job Journey on Friday, April 22, 2011

Adding celebrations like birthdays, wedding or baby showers, and other milestones into the mix of regular office life is a balancing act. Celebrating special moments together is an important part of team building. But, such festivities can sometimes cause stress, distractions, and even a financial burden. With wedding season just around the corner, keeping the following tips in mind will ensure you not only survive celebrating in the office, but truly enjoy yourself during the process.

Don’t make it a competition.
Believe it or not, your work ability will not be judged based on your involvement in planning work parties and giving the best gifts. Although you may receive accolades for a generous donation of time, most likely you won’t be receiving a raise or promotion for your input on your co-worker’s wedding shower. Set realistic boundaries regarding what time and energy you can devote to the planning process. Consider other obligations including work, family, and life. Don’t feel the need to devote more time than necessary, neglecting more important duties, for the perfect company celebration.

Remember, work comes first.
Although these parties are a great way for the office to unwind and escape the daily grind, work tasks still take priority. Never allow parties to come before finishing a project, meeting with a client, or completing necessary duties. Learning to balance work, along with your other responsibilities, will show your boss that you deserve the occasional break!

Have a budget and stick to it.
Occasional splurging is quite understandable, but with all the different festivities at work, spending large amounts consistently is unrealistic on your wallet. Talk with your co-workers and see who is interested in giving a group gift. Consider shopping sale aisles, discount stores, or even making your own presents. The old saying, “it’s the thought that counts,” still holds true.

Company celebrations can be a time of fun and relaxation, or a time of stress and financial strain. Remember to realistically set boundaries regarding your time, work, and money and you could be the life of the party!

The Daily Grind

12 Tips to Update Your Cash Savings Plan and Gain Peace of Mind

By Miranda Wilson on Wednesday, August 19, 2009

In these current economic times, it seems that everyone is looking for new ways to make a little extra money and save what they already have. Does this sound like you? Having money in the bank for an emergency is important, but having money stashed away in case of a layoff is equally important.

With bills to pay and things you want to buy, saving might be something you tend to push to the back burner. Or maybe you don’t know where to start when it comes to saving and you just feel overwhelmed. But, there is good news! Saving doesn’t have to be difficult or a burden. To help you develop or re-develop your own savings plan, here are 12 easy tips you can start using today to help build your emergency fund and feel good about your finances.

Rent or borrow movies from friends instead of going out to the movies.
Cook at home and take your lunch to work rather than eating out.
Limit yourself to only going to the mall once a month.
Limit how many purchases you make with your credit cards.
Give yourself a “pocket money” limit. Put your cash and loose change in an envelope and use it only for items you want but don’t really need. When that money is gone, you will have to wait until next month’s budget to make additional purchases.
Make shopping lists and stick to them.
Wait 30 days before making a big dollar purchase to think it over and make sure you really need the item.
Go to the library to check out books, DVDs, and CDs.
Make gifts for others on birthdays, anniversaries, etc.
Turn off lights and unplug electronics when you leave a room to help lower your electricity bill.
Carpool to work.
Cancel expensive gym memberships if you aren’t going frequently.

These are just a few examples of ways you can cut spending costs. You should also open up a savings account at your bank and deposit the money you’re saving in there. With your money in the bank, it will gain interest each month, helping you save more in a shorter amount of time.

Developing and sticking to a savings plan may take a little time, but it is something that you can definitely do. Start using these tips today and see how much money you can save in one month. Happy saving!

What do you think? Let us know some other tips that we can add to this savings list. We look forward to hearing from you.

At Work Cube Life The Daily Grind

5 Ways to Say Happy Birthday at Work (Without Breaking Your Budget)

By tiffany monhollon on Monday, February 9, 2009

If you’ve ever felt that one day blends into another at work, then you know that any excuse to shake things up and break from the norm is a great way to lift spirits and help your team bond. While each workplace differs on the reasons why and how they celebrate, a popular trend is
celebrating employee birthdays. Though some people dislike the attention and others choose not to celebrate for religious reasons, most people in the workplace enjoy a small birthday party.

But in times like these, budgets are tight for businesses and employees alike. So, here are five ways to celebrate birthdays at work without going broke.

1. Sign a group birthday card. Depending on the size of your workplace or team, a card signed by your group can be a simple way to help everyone save a few bucks. Another idea is to create an electronic group greeting card that everyone can customize. GroupCard.com makes it easy to make sure everyone has a chance to sign an electronic card and will schedule the delivery date for you.

2. Bake, don’t order cake. Having a monthly cake to celebrate employee birthdays is a time-honored tradition in many workplaces, but the costs can add up fast. Employers may be looking to cut budgets on items like these, but that doesn’t mean birthdays can’t be sweet anymore. One idea is to have team members bake cupcakes, cookies, or other sweets to bring to celebrate co-worker birthdays.

3. Have a potluck picnic. Instead of catering in or going out for a restaurant meal to celebrate a co-worker’s birthday, a budget-friendly alternative is to have a potluck picnic or lunch. Having everyone bring a themed dish is a great way to build camaraderie within your team and celebrate while keeping budgets in check.

4. Throw a re-gift party. If your team has a tradition of buying gifts for each other but can’t afford to this year, try a unique spin on the popular “Dirty Santa” holiday gift exchange. Have a re-gift party in honor of your team member’s birthday and ask all team members to bring a white elephant gift to exchange (just make sure they don’t bring a gift they received from a co-worker!). Other variations of this idea include having a themed gift swap. Simply select a theme, like funny things under $1, your favorite candy, or a secret recipe. Then, use the gift exchange game rules to provide an inexpensive but fun party game that gets everyone involved and preserves the gift-giving spirit.

5. Host a tournament or game lunch. Another way to celebrate birthdays at work is to schedule a game hour or tournament. Playing cards, board games, or word games can be a fun way for your team to celebrate while not spending a lot of money.

To keep team morale high, especially in times like these, it’s important to make sure we don’t cut celebrating from the workplace when budgets get cut. So, try using some of these ideas to celebrate birthdays in your workplace, or suggest these ideas to your team the next time you’re looking for a much-needed morale boost on the job.

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