Giving Advice on How to Budget

Ben: I’ve been spending so much money lately, but I just can’t stick to a plan. What do you do to keep your budget in order?

Mo: Well one of the main things is that I try to cook at home often because going out to eat, uh, can get really expensive. And also not going out to bars so often…

Ben: Yeah.

Mo: buying drinks can be really expensive too, and then when you factor in tip, it gets a lot.

Ben: Do you create like an actual budget every month?

Mo: I do, yeah. I try and track how much I’m spending in different areas and there’s also apps that you can use on your phone.

Ben: Ah, that’s a good idea. Alright. This month it’s going to be different!

Mo: There you go!

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Vocabulary:

stick to a plan – to continue following a set strategy or decision without changing your mind or giving up, “It is much easier to save money when you stick to a plan.”

keep your budget in order – to manage your money successfully so that your expenses do not exceed your income, “Reviewing your bank statements every weekend will help you keep your budget in order.”

factor in – to include a specific cost, time, or fact when calculating or planning something, “When buying a house, you need to factor in the cost of insurance and future repairs.”

track how much I’m spending – to keep a continuous, detailed record of the money you pay out, “I use a smartphone app to track how much I’m spending on coffee and snacks each week.”

different areas – distinct categories, departments, or sections of an overall system, “The company is trying to reduce its environmental impact across different areas of production.”

There you go! – an encouraging expression used to praise someone for making a good decision, understanding something, or doing something right, “You finished your homework before dinner? There you go!”