To the average mind, the idea of living within a budget is synonymous with deprivation. On the contrary, living within your budget means spending less or at least equal to what you earn.

So if you think budgeting is like dieting, where you have to deprive yourself of certain things, here’s your wake-up call. Living within your budget can be fun, realistic, and achievable. Here are few tips on how to live within your budget and achieve your budgeting goals.

1. Separate your needs from wants.

When living within a budget, differentiating between your needs and wants can help you save money on recurring and unnecessary items or services. Before making a purchase, question if it is something you can do without or a non-negotiable. 

Alternatively, you can adopt the 48-hour rule before making substantial purchases. The 48-hour rule prevents you from making impulse purchases and affords you the time to identify if an item is a need or want, as well as its pros and cons.

2. Shop smart.

Not many people realise this, but you can save thousands of naira on literally everything from grocery shopping to household repairs by researching price ranges and taking advantage of discounts. For instance, you can always ask for a discount on clothing items whenever you notice a broken zip or missing button on clothes. This is a discount option that many retailers will not tell you except you ask, so watch out for such loopholes.

In addition, another way to shop smart is to compare your invoices from different supermarkets and service providers. Admittedly, comparing costs and using cashback and discounts might seem like an inconvenience to non-confrontational people. Nevertheless, a simple inquiry or research can save you a significant amount of money and ensure that you stick to your budget and spend below it without feeling deprived.

3. Spread out splurges.

Once again, living within your budget is not deprivation and, as such, should not be approached with the same mindset as you would use to diet. That means, instead of cutting out the luxurious things you enjoy, get creative about how to enjoy them for less or reduce the frequency.

For instance, you can transition from a weekly Sunday brunch at your favourite cafe to making it monthly or taking turns with your friends to host brunches at home. This helps you save more and provides the opportunity to bond and spend time with friends. 

4. Do it yourself.

When it comes to living in the 21st century, the internet can either be your friend or your enemy, and here’s why. You can avoid tons of daily expenses by learning to do certain things yourself. Some good examples include changing your car oil, giving yourself a manicure and pedicure, haircut, or learning to braid your hair.

There are tons of free resources online that can teach you how to go about these things, from forums to blogs and vlogs. Besides, there is a sense of pride that comes with being self-sufficient and learning new skills. So take time to learn something new today and save extra bucks by reducing labor costs.

5. Practice gratitude.

Resist the urge to keep up with the Joneses. Admittedly, watching your friends and other people lead a luxurious lifestyle on social media can be tempting, but you must realise that this is a facade in many cases. So if you want to live within your budget, you must learn to stop comparing your daily life to someone else’s highlight reel.

Instead, be grateful for the expenses you can afford, like a roof over your head, food, and being healthy. When you practice gratitude, it is easier to recognise the value of everything you already have – relationships, experiences, and a job (even if you hate it). 

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