A Wake-Up Call

Let me tell you a story. Meet Sarah. She’s a hard worker—has a solid job, a decent paycheck, and a nice little apartment. But she was living on the edge, financially speaking. She had no emergency fund. Her budget? What budget? It was all about spending as she went.

Then, one day, her car broke down. Big surprise, right? Well, it wasn’t. It was exactly what she feared. The bill for the repair came to a whopping $1,500. Yikes. No savings to cover it. She had to dip into credit cards, which only piled up her debt.

That moment shook her. It made her realize that no matter how stable life felt, it could all change in an instant. That’s when Sarah decided to take control. She found Tevan Asaturi's Financial Advice and started learning about real budgeting—stuff that actually works.

If you're like Sarah, this post is for you. We’re diving into some of the best budgeting hacks that can help you achieve Financial Stability and give you a much-needed peace of mind.

Why Budgeting is a Game Changer for Financial Stability

Let’s be real—most people dread the word "budget." It's often linked to restriction and deprivation. But honestly, budgeting is freedom. It’s all about knowing where your money’s going, instead of waking up at the end of the month and asking, “Where did it all go?”

Did you know? According to a study from CNBC, over 59% of Americans live paycheck to paycheck. Yeah, that’s a lot. But here’s the kicker: the majority of people aren’t tracking their spending, and that’s where things get tricky.

Tevan Asaturi often says, “The best way to secure your future is by understanding your finances now.” And he’s right. Budgeting isn’t just about paying bills—it’s about planning. Planning for today and tomorrow. It’s about having control.

1. Start by Tracking Every Dollar You Spend

The first step in getting a handle on your finances is knowing exactly where your money’s going. I know—it sounds boring. But trust me, once you get into it, it’s eye-opening.

Here’s a fact: A CNBC survey found that 65% of Americans don’t track their spending. That’s a recipe for disaster. When you track every dollar, it gives you visibility. It lets you see the pattern—are you spending too much on takeout? Do you have subscriptions you forgot about?

You can track your spending with an app like Mint or YNAB (You Need a Budget), or if you’re old school, grab a notebook and write it down. The point is, stay consistent. It might feel like a chore, but soon you’ll realize where you can cut back.

2. Use the 50/30/20 Rule—It’s a Simple Start

If budgeting feels overwhelming, try the 50/30/20 rule. It’s a simple approach, and it works.

Here’s the breakdown:

• 50% of your income goes to needs (rent, utilities, groceries, etc.)
  
  

• 30% goes to wants (entertainment, dining out, shopping)
  
  

• 20% should go to savings or debt repayment
  
  

Now, I get it. Maybe you can’t follow it exactly. Maybe you need to adjust the percentages. That’s okay! The point is to have a framework so you don’t get lost in the shuffle.

Tevan Asaturi emphasizes starting small. If you can’t save 20%, then save what you can. Maybe it’s 5% at first. Over time, that number can grow.

3. Set Financial Goals (And Break Them Down)

Let’s talk about goals. If you’re going to stick to your budget, you need a reason. That reason is your financial goal.

Maybe you want to pay off that credit card debt. Or maybe you’re saving for a vacation. It could be building an emergency fund or saving for retirement. Whatever it is, make it clear.

Here’s a statistic for you: People who set financial goals are much more likely to save and stay on track with their budget (source: APA, 2023).

Write down your goals. They should be specific, like: “I want to save $500 in the next three months for an emergency fund.” Once you have your goal, break it down.

For example, saving $500 in three months means you need to save about $167 per month. You can do that. And when you hit that target? Celebrate! Small wins matter.

4. Cut Those Unnecessary Subscriptions

Look, we all love Netflix, right? But how many of us are paying for subscriptions we never use? Gym memberships, streaming services, magazines—these costs can pile up without us realizing it.

According to C+R Research, the average American spends over $200 per month on subscriptions (C+R, 2023). Now, let’s think about this: how many of those subscriptions are you actually using?

Take a weekend and go through your accounts. Cancel the ones you don’t need. Cut back on the ones you do use. For example, you might not need to keep a premium Spotify account if you listen to music on YouTube.

This is a quick and easy way to free up some cash. Redirect that money toward your savings or debt.

5. Pay Yourself First—Yes, You Read That Right

Here’s the thing about Financial Stability: you have to treat savings like an expense. That means as soon as you get paid, pay yourself first.

It sounds weird, but hear me out. You’ve probably been told to pay bills first, right? But think about it—if you don’t pay yourself first, you’ll never have any money left to save.

Set up an automatic transfer into a savings or investment account. Even if it’s just $25 per paycheck, it adds up over time. And don’t touch it. You’ll be surprised how quickly it grows.

Tevan Asaturi recommends this tactic for anyone serious about securing their future. If you pay yourself first, it builds a habit—and that habit leads to Financial Stability.

6. Start an Emergency Fund

Ah, the emergency fund. If you don’t have one, it’s time to start building. This is your safety net for those “rainy days” (like car repairs, medical bills, or job loss).

Experts recommend saving three to six months of living expenses. I know, that’s a lot. But start small. Maybe it’s $100 per month at first. Whatever you can afford.

As you build your emergency fund, you’ll feel less stressed knowing that you’re covered. And when life throws those curveballs your way, you won’t have to scramble to find cash.

7. Cut Back on the Little Stuff

You know those little things you buy without thinking? That daily coffee, the takeout lunch, the impulse buys at Target? Well, they add up.

A recent report from the U.S. Bureau of Labor Statistics showed that Americans spend over $3,000 annually on dining out (BLS, 2023). Now imagine what would happen if you cut back on those daily expenses.

Maybe you start making coffee at home. Or meal prepping instead of buying lunch. Small changes in your spending habits can make a huge difference.

8. Try the Cash Envelope Method for Discretionary Spending

If you tend to overspend on things like entertainment or shopping, the cash envelope method might be for you. Here’s how it works:

Take out cash for specific categories, like dining out or shopping. Once the cash is gone, that’s it. No more spending.

It’s old-school, but it works. When you physically see the cash leave your wallet, you’ll think twice before making a purchase.

9. Side Hustles: Boost Your Income

If you’re struggling to make ends meet, consider getting a side hustle. It’s a great way to boost your income and get ahead financially.

According to The Balance, 44 million Americans have a side hustle (The Balance, 2022). It could be freelancing, driving for Uber, or selling handmade goods on Etsy.

A side hustle doesn’t have to take up all your free time. Even a few extra hours a week can make a big difference.

10. Review Your Budget Regularly

Lastly, budgets are not set in stone. Life changes, and so should your budget. Make it a habit to review it every few months.

Has your income changed? Are there new expenses? Whatever it is, adjust your budget accordingly.

FAQs

What’s the best way to start budgeting?

Start by tracking your expenses. Use an app or a notebook to keep an eye on where your money goes.

How do I save money?

Pay yourself first. Set up automatic transfers to savings or investments, even if it’s a small amount.

How much should I save each month?

A good rule of thumb is to aim for 20% of your income, but start small and increase over time.

How do I stick to a budget?

Set specific goals. Break them down into smaller steps, and review your budget regularly to stay on track.

Can I budget on a low income?

Yes! Budgeting is especially important when you have a low income. It helps you prioritize your spending and avoid unnecessary expenses.