Budget tips every woman can consider this October.

If you want to attain financial freedom it is crucial to know basic financial management principles. You have to draw up a budget so that you know where your money is going as this will make it easy to keep track of your spending. Though budgeting and tracking your spending can feel a bit like having strict parents, it is supposed to give you freedom as you can tailor your spending practices and ensure that you manage your money in line with your financial goals. Below are % that you can apply when you want budget and keep track of your hard earned money.

Budget percentages to consider

Giving 10%

Savings 10%

Housing 25%

Food 15%

Insurance 10%

Transportation 15%

Utilities 10%

Recreation 5%

The first two categories which are giving and savings are key, saving is very important if you want to attain financial freedom and having savings gives you a cushion for a rainy day.Then essentials like housing, food, utilities should also be budgeted for because, you need a place to live in, utilities, transport to work as well as food.

Insurance also should be budgeted for be it home insurance, life cover, funeral cover, motor insurance, hospital cover, all these should be paid for as they will make sure that you don’t spend your savings if anything is to happen to you or your possessions. Recreation is also important to budget for so that you know how much exactly you can spend on entertainment.

If you track your spending without first setting a goal for each category, you can easily spend more than you would like to in one or several categories. With a pre-set budget, you have a number to aim for that will help ensure you making efforts to control spending so that you have more money to put toward your financial goals, whether those goals be saving money for a house, paying off debt, or working toward financial freedom.


Opt for using cash than credit cards as with cash you can use a cash jar or cash envelope system. By using a cash envelope system for expenses such as groceries, entertainment, meals out and other flexible spending categories, you can be sure you’re not spending over the allocated amount in your budget because you simply commit to using only the money in the envelope for those expenses. Once the money is gone, you’re finished spending in that category for the month.

Also, twerk your budget on a regular basis to accommodate for expenses like car insurance or school fees which are seasonal expenses. If your budget permits, have an emergency fund as well that will be part of your budget, you can cut down percentages of other categories to accommodate having an emergency fund.

Go ahead and apply these budget tips this October as a trial run and find out if this can work for you.

Xoxo PRLadyBoss

Imelda Duduzile Moyo

Email: [email protected]