26 Feb How to Budget During a Night Out
Let’s face it, it is nearly impossible to not spend money during a night out. For many people they assume there are two options; to go out and spend all their money, or to stay in and go to bed early so you don’t spend any money. Surprisingly, there is a happy medium so you have the chance to enjoy your night out while also budgeting carefully.
Having a nightly budget can be very beneficial and you will realize how valuable it will be in the end. Here are some tips that will help you save money so you don’t spend today’s entire paycheck while you’re out!
Bring Limited Cash With You
One of the most effective ways to help save money is bringing out a set amount of cash. Think about where you will be going and estimate how much money you will need throughout the duration of the night. Try to avoid bringing any credit or debit cards out because those are what will tempt you to spend more! When paying with a card, it is very easy to lose track of what you are spending throughout the night. Paying with cash makes things a lot less stressful and will help you have one less regret the next day.
Bring Up Your Intentions of Splitting Costs Beforehand
Is it important to make sure everyone is on the same page with paying the bill, to eliminate any uncertainty among your group. In certain circumstances, it is easier to just split the bill evenly. To make sure all the math is done correctly, take control of the bill and add tip then divide it by the number of people. Most restaurants nowadays allow checks to be split. Some helpful bill splitting apps include:
Asking for a separate check is also another option to make it easier for both you and the restaurant, while saving you money. There is nothing worse than having to pay for extra things you didn’t eat or drink. This way, if you are on a budget, you will be able to order something small and not be responsible for the rest.
Don’t Use an ATM That Charges You
Having enough cash to last you the whole night is very important. It is also vital not to go overboard and spend all that cash you bring with you. You may come across times where you are in an emergency where you need to withdraw money from the ATM, but make sure it is your banks ATM. Not only do you get charged by the ATM operator, but your own bank may charge you as well. Without even realizing it, the fees add up throughout the year and takes away from spending your money on things that matter.
Keep Your Savings Separate
Recent technology has made it easier than ever to break into our savings and spend it when needed.You should be sure to set aside an account for your spending money and then a different account for your savings. This way, you will not be tempted to spend your hard earned money on a night out.
To open up a personal savings account visit our website for more information and we will be sure to guide you in opening up a savings account, which will help save you a lot of money.
Look for Cheaper Alternatives
Take advantage of going out to places that are offering daily specials. Do not pass up amazing deals like ‘buy one get one free’ or ‘half off’. Do some research and find out the “hot spots” around you, which will help save you money so you aren’t paying full price! You will quickly notice how much money this saves you!
Although it may seem impossible to budget while having a night out, it is very easy to start becoming more budget conscious. You might think that budgeting means sacrificing a fun night out, but in reality, it is just keeping you from overspending. You can use these money-saving techniques and still have fun without damaging your bank account!