Advice For Managing Your Budget For Those Who Hate Math
You may hate math, but you love money. That’s why even if you are “numerically challenged” you still need to learn how to budget.
Luckily, keeping track of your expenses doesn’t require Algebra or other complicated mathematical formulas. It’s simple addition and subtraction, and your calculator will do all the hard work! But if you hate math so much that you want to avoid numbers as much as possible, use these tips for managing your budget.
Budgeting Tips For The Numerically Challenged
Use An App
There are plenty of free apps that can help you track your expenses.
Mint is an easy, all-in-one app where you can plan your budget, pay your bills, and monitor your bank account. Some people even use it to figure out how much tip to leave, or how much to save each month for a big purchase.
EveryDollar lets you set goals and has a very easy spending tracker to help you see if you’re sticking within budget and meeting saving goals. It’s so user-friendly that you can set up your budget in just 10 minutes.
There are many more apps for managing your budget: YNAB, PocketGuard, HoneyFi, etc. Just input your spending for the day and it will tell you if you’re on track—without doing any kind of Math in the process.
Use The Envelope System
The envelope system is one of the easiest, fool-proof ways of managing your budget.
First, figure out your key spending categories: rent, utilities, food, transportation, etc., and decide your budget for each.
Then, withdraw your spending money for the month and divide it among the envelopes. The rule is that you can only use the money for what it is allocated for—no cheating and using your transportation money to buy pizza.
Use Cash As Much As Possible
Even if you don’t use the envelope system for all your financial planning, paying for things in cash is actually a pretty good way of managing your budget.
You don’t have to mentally keep track of how many charges you have made on your credit card, or how much is left on your debit card. All you have to do is look at what’s left in your wallet.
That can be a great way of stopping yourself from making an impulse purchase too. There’s something about counting the bills and physically parting with your cash that will make you think, “Do I really want to buy this? Is it worth it?”
Use A Buddy System
If you’re a “people person” rather than a “number person," then this may be a better way of managing your budget.
Ask your partner or a trusted friend to help you plan your budget and hold you accountable for it. He or she can help you identify spending categories, decide your spending limit, and think of ways to reduce spending.
Each month, your “money buddy” will ask if you’re on track. While it’s still up to you to keep track of expenses, being accountable to someone—and getting their support and encouragement—can help you stay motivated, even if you hate the math involved.
When Math Can’t Help: What To Do When You’re In The Negative
There are some problems that math can’t solve, and that includes how to raise money when you find you find yourself short on cash before your payday.
You know you have money coming in, but the problem is how to pay for urgent expenses right now. While budgets can help you manage your money, they won’t make money appear when you need it.
When that happens, one of your options is a payday loan from Alabama Title Loans, Inc. You can borrow from $100 to $500, and then pay it off on your next paycheck.
Unlike other personal loans, you do not have to have a high credit score or present collateral. Present the following:
- State-issued ID with your photo, such as a driver's license
- Social security card
- Recent 30-day bank statement from your checking account
- Your most recent pay stub
- A blank check from an active checking account in your name
The approval process is also much faster than going through a bank—which is important if you need the money right away.
Get Payday Loans Today
We offer one of the fastest, most convenient ways to get payday loans.
Just fill out the form and someone will call to explain the process and answer questions. Then go to the branch—we also have locations all around Alabama—to submit documents and fill out simple paperwork. If you’re approved, you can get the money that very day, or the next business day.
It’s fast, it’s simple, and it solves your problem. We’ll even help you do the math for you. Contact Alabama Title Loans, Inc. to inquire about payday loans and raise the emergency cash you need right now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.