How much money do you need to survive a day? Not sure? Financial Fitness Coach, Chantel Chapman, has some tips and tricks to help you budget your money.
Another one that gets me is app purchases and subscriptions. For example, when people subscribe for things like music streaming apps, on-time payments are automatically set up. For that reason they can be suuuper easy to lose track of! I like to limit myself to 2 apps that I absolutely need and 2 apps that I really want – it adds up to about 40 bucks a month on average which I think is totally reasonable for anyone’s budget!
Here are some of my personal budgeting tips:
• Set a day rate playa: Calculate how much you spend on stuff that gets you through the day and don’t go over that rate. There is a golden rule to this though: don’t ever borrow from the future (duh). If you don’t spend it all in one day, you can carry forward that $$ and maybe F*CK UP SOME COMMAS! This method works so well that Mogo’s added a “Daily Spend” section on our MOGOCARD account.
Not saying it’s healthy to make it rain at strip clubs, but going out for drinks on Friday shouldn’t leave you stressing about your funds on Monday.
It’s the same with budgeting — your Rick Ross money will let you satisfy your guilt-free spending in a controlled way and take away the urges of overspending because you’re not putting excessive restraints on yourself. I also separate my Rick Ross money from my chequing account that has my $$ for bills. If you can clearly see how much you have in your R&R account — you will know where you are at without “accidentally” dipping into the #adulting fund meant to pay your bills.
My preferred method is to sit myself down, write out how much of a financial sh*thead I am on a day-to-day basis and create my monthly (or weekly for all you keeners) budget based on those numbers. Budgeting is not complicated, but if you need an outline there are a lot of great templates on the internet! Doing it old school makes you more mindful. Pairing this with smart tools like an account just for your spending and my tips above will keep you in shape.
Some of these tips that I’ve told you have conveniently been included in some way onto the MogoCard - it’s currently in Beta, so download our app, and get in line because you'll love it. You can load your daily budget onto it and it texts you every time you spend so you know how much money you have left. It’s the closest you can get to being treated like a child while being an adult.👊