7 Frugal Tips for Sticking to Your Budget
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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