It can be overwhelming to create a budget and stick to it, but these tips will help set you on the right track and make financial success a bit easier.
Creating (and sticking) to a budget can be hard! In fact, until your budget becomes second nature it can seem almost impossible!
4 Simple Tips to Help You Create a Budget (and Stay Within It!)
Luckily I have a few easy tips to help you stick to the plan and achieve your financial goals.
First, if household expenses and savings are something you’ll be sharing with a spouse, get them involved. You need to share the responsibility with them so you don’t end up fighting a losing battle.
For example, if you are working your tail off to stick to the plan, but your other half is out on a spending spree, it’s just not going to work. Right from the beginning get them involved so you create a budget and make financial decisions together.
Keeping track of your expenses daily, or at the very most weekly, is important. It’s a great way to see just where your money is being spent and make adjustments for the rest of the month as needed. Save your receipts and write down anywhere else you spent money. Seeing how much money you actually spent in a day can be a game changer.
To slow your spending start using cash. I’m sure you agree…it’s way easier to swipe a credit or debit card than to actually hand over cash when making purchases. Take the amount of cash out for weekly expenses that was decided upon in your budget. And try to stick to that amount!
Not only are you less likely to make unnecessary purchases, there also won’t be as much account balancing to do since all those small random purchases will be coming out of your weekly cash allowance.
Finally, you may not realize it, but just going to work to make money can end up costing you! Gas, coffee, and lunches are the biggest way you might be spending more than you need to.
To save on gas consider carpooling if there is someone that lives nearby headed to the same place or even in the same direction. At the very least try to rack up some gas points if your grocery store has a gas rewards program. An easy way to do this is to purchase gift cards for special occasions at the grocery store instead of heading to the actual store you would like the gift card for. That way you can take advantage of earning some gas rewards on your gift.
Spending only a dollar sounds like a bargain, right?
Well, even at $1 per cup, you’re probably spending more on coffee by grabbing it at a drive-thru on your way to work than you need to. Set the timer on your coffee pot and enjoy fresh coffee from your home each morning without adding extra time to your morning routine.
Buying lunch is probably one of the easiest ways to waste money. At an average of $5 per weekday, buying lunch each day can add up to about $100 per month! Save on this expense by making a little extra for dinner each night and taking the leftovers with you or even taking a frozen dinner that you purchased at the grocery store if you’re looking to enjoy a hot lunch.
Sticking to a budget can be hard, but hopefully these tips set you on the right track and make financial success a bit easier.
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