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In fact, it can be stupidly simple as long as you have the right hacks.
Below are some stupid simple budgeting hacks that are incredibly effectiveyet easy to implement.
This simple rule can drastically reduce impulse buying, he said.
Set a reminder for 24 hours later.
After the cooling-off period, reassess if you still want or need the item.
Youll often find that the initial impulse has passed, saving you money on unnecessary purchases, Salahi explained.
Heres the process, according to Salahi.
This digital version of thecash envelope systemprevents overspending without the hassle of carrying cash, Salahi continued.
When an account is empty, you know youve reached your limit for that category.
Its a hands-off approach that enforces your budget automatically.
If youre paid bi-weekly, develop a budget for each paycheck.
The Reverse Budget
Flip traditional budgeting on its head by focusing onsavingsfirst.
Its remarkably effective because it requiresno ongoing trackingor complex calculations.
Then, rotate categories each month.
Implementing this hack forces you to get creative with your money while also helping you break expensive habits.
And youll boost your savings by eliminating a whole category of purchases.
Its a fun way to shake up your routine while saving money, said Salahi.
These stupid simple budgeting hacks are easy to implement but can have a powerful impact on your finances.
They work because they requireminimal effort and leverage behavioral psychologyto make saving money almost automatic.
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