Living within a budget pretty much stinks for the most part, except when you want to save money. Oh, and when you have goals, like retirement, or getting a kid through college. Maybe a new car is on the horizon. Setting up a budget is important to maximize your savings goals, but sometimes sticking to that budget can be tough. Here are some tips to use to help you stick to your budget.
7 Tips for Sticking to Your Budget
1) Cash Rules– You know the saying, cash is king. When it comes to your budget, using cash for your purchases is going to help you in a few ways. One way is that it is tough to spend actual cash and easier to whip out a credit card or debit card. You will control your purchases better if you use actual cash whenever possible.
2) Shop From Your List – Using a shopping list will help you cut down on the unnecessary items that sometimes creep in. I use lists for all types of shopping, not just groceries.
3) Allow For Some Free Spending Cash – Allowing yourself a bit of free spending money for your wants can help cut down on budget busters. We all deserve a treat now and then.
4) Use Your Budget Balance not Bank Account Balance – Keep your budget updated on a daily or weekly basis so that you know exactly where you are for a particular category. By shopping and spending with your budget in mind, you are not using your bank balance to influence your spending.
5) Set Goals for Your Budget – If you are saving for a trip or retirement, make sure to earmark your excess from the budget and move it into a savings account specifically for that goal. That way you can watch your balance increase and enjoy that reward.
6) Let the Family Help – The family can be a big help when it comes to budgeting especially if there is a payout in there for them. Maybe a vacation is planned or a shopping trip. Just having some reinforcements and a reason to stay on track will help!
7) Let Go of the Mistakes – No one is perfect when it comes to sticking to a budget. Allow for some wiggle room and forgive yourself if you mess up. Make adjustments to the budget and move forward.
Having specific goals for your budget will help you stick to your goals and hopefully add some cash into your savings too. Do you use budgets with your finances? What tips do you have to share with us?
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I always used a shopping list. You would really be surprised to how much lower your final bill is after sticking to your list. It really works well. Now a days I write things down on a list for the sole purpose of remembering What I am suppose to get! lol! Just me and my Husband now so we don’t have to budget so much anymore!
These are good tips. I think shopping with a list is essential, and with sales and coupons too. But allow some leeway for a nice experience or you will go crazy.!!
Great tips and advice. Setting goals and allowing yourself some leeway and spending money is important. If you are too thrifty, you may splurge in the end. If you don’t take time to come up with a budget and make shopping lists, it’s easy to overspend without realizing it. All that you said go hand-in-hand and are important. Thanks.
Great tips! I have no problem with the first one, especially, (cash rules), since I don’t have a credit card of a regular debit card.. I usually buy “gift cards” (MC or Visa) for myself, if I want to make an online purchase. This way I can’t charge up a storm!
I have been on a budget so long its second nature. My downfall I swear though is when hubby comes to the grocery store he is worse than aa kid picking up stuff. I look at him like he is nutsbut he alwaays manages to grab cookies and donuts.
For me, shopping with a list is essential. If it’s not on the list I don’t get it. Watch eating out or ordering in. Fast way to mess up your budget.