When starting a budget, it is very easy to overspend and blow your budget. This is due to bad spending habits. Don’t worry this happens at first. It’s a given. Everyone has bad habits, so you are not alone. Don’t give up just because you keep over spending. Your budget will help you correct those bad spending habits.
Remember, your budget is never set in stone. You can always adjust as necessary, especially when you are a beginner. As a beginner its easy to forget a category, you might need to split a big category because you overspend there, or maybe you assigned too much or too little in a category. Your budget is your key to success. If it is not right or not working, adjust it, so that it will work. Below you will find 4 tips to help you stick to your budget.
4 tips for Sticking to a Budget
1. Write it down
Write it down and tell your money where to go. Spend your income on paper before you actually spend it. This process will help you get in the proper mind set.
2. Use an envelope system
This system will help you learn good spending habits. Take your budgeted categories and assign each category an envelope. Then fill your envelopes with the money you assigned for that category. You can only spend the money in that particular envelope for that category. Once that money in that envelope is spent, you can’t spend anymore money from that category. You’re done until next month. DO NOT TAKE MONEY FROM ANOTHER CATEGORY!!!
3. Stay away from temptations
Stay away from temptations that entice you to spend. If you are overspending, it’s time to buckle down and get serious. Maturity shows when you delay pleasure today to ensure that tomorrow is better.
4. Stay motivated and don’t give up
A budget gives hope that your financial situation will or is getting better. Dwelling on failures or fearing you won’t make it, is not going to help you. To avoid this, break your goals down to smaller goals.
Nobody is perfect. We all have flaws or habits that we need to work on. You are headed in the right direction. You have identified the problem and now you are taking action to correct the problem. This journey is not going to be easy and it’s not going to be a quick fix. It doesn’t take a couple of hours to develop a bad habit. The same goes for the development of a good habit. Take your time, learn, and enjoy the results when you achieve your goals.