Budgeting can make difference in home finances

Process dreaded, yet fascinating, too

When’s the last time you took a hard look at your family budget? It’s a process I dread, yet at the same time, I find it to be a little fascinating. I like the detective work part of it, and scouting out savings.

Part of the process happens each month — reviewing every bill that I pay, and asking questions about it.

And often, I find something awesome: savings. One month, for example, I found a reoccurring charge for something that we no longer use at home — and had I not closely reviewed the bill, that would have been money wasted. I always ask questions — what’s this fee? Why did this increase? What about this?

One of the most critical takeaways is the simple fact that if you don’t ask, you’ll never know. Sometimes there are lower rates to be had, and other times, there are cheaper yet better premiums. It takes a little legwork and vigilance, but in the end, the savings can be worth it.

And sometimes, companies give you other pointers that lead to savings. In one case, a company pointed out a whole rewards program that I was unaware of, which pays out in Amazon gift cards. It was money left on the table, and I didn’t even realize it.

For any family, planning for a year’s expenditures helps us save and spend appropriately, and in the process, we starting thinking more longterm. We start with the small goals, and eventually realize that there are bigger goals, too. It’s not just about paying off student loans or credit cards — although that’s important too. There are also goals like vacations, or buying a new car, or — gasp! — retirement. Now that’s one goal that may seem far away, but if one isn’t prepared financially, it’s a dream that might remain forever distant.

And budgeting today is easier than ever before. Part of my dread centers on spreadsheets, but today, one doesn’t need to use such tools.

Now there are a variety of apps out there one can use to help you better manage your finances, whether you make lots of money or just a little. It helps to see where it all goes, how you spend, and where you might want to refocus your energies. Some track your expenditures, while others help remind you to pay bills — and some do it all. But do your research, and find the app that works best for you.

And along the way, you might find some savings, too!