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You’d be surprised how many people struggle to stay on top of their budgeting.

If you’ve ever been hit with fees for rejected payments, been embarrassed by an insufficient funds message at the checkout, or keep dipping in to your savings, its time to take control. According to Easy Street, there are 3 ways you can take control of your spending by a simple re-structure of your accounts.

# 1 Have a separate account, just for your bills

If you get paid fortnightly, add up the cost of all your expenses from loan repayments, phone bills, insurances, memberships, school fees etc within that fortnight. Ask your financial institution to automatically transfer the total cost to this account and have all your expenses taken from this account. Be sure to cover the cost of any fees associated with the account.

This way, you’ll have peace of mind that all your regular commitments are covered before you start spending, so you can’t fall behind. Plus, there’s little chance you’ll be left short at the checkout due to a direct debit you forgot about.

# 2 Keep your savings separate

Work out an amount you can comfortably save each pay cycle and ask your financial institution to automatically transfer that amount to a savings account each pay. What’s left at the end of the pay cycle in your spending account can be added back to your savings if you don’t spend it. Initially, its more important to get used to putting away an amount you won’t miss as it makes it easier to increase the amount saved over time.

# 3 Spending is just for spending

With your bills covered and savings set aside, you’ve now got the confidence that whatever is in your everyday account can be spent without the worry of an unexpected bill leaving you short. Plus, you’ll enjoy knowing that you’re getting closer to your savings goal each month.

Take the time to do your budget to work out what your play money is each week. By knowing what you can comfortably spend on you, you’ll feel more in control and may even find the motivation to become even more efficient with your spending.

Get on Easy Street today

So if you’d rather be on Easy Street, go to www.easystreet.com.au or call 1300 13 14 65.

You’ll find a free online budget tool, plus 3 simple online accounts you can use to try this out for yourself.