Budgeting

Tips on Sticking to a Budget

It is all very well setting a budget for yourself to make sure that you do not spend too much each month, but sticking to it can be difficult. Below are some tips that you might find will help you to stick to it more easily.

– Write down your goal – it is so important to make sure that your write down your goal. This is not just how much you are spending each month to stick to your budget but the reason that you are budgeting in the first place. It might be that you are saving up for something, paying off debt or just working on making ends meet each month. Make a note of why you are budgeting and what your budget is and stick it somewhere that you can read each day. It might be on a mirror, on a computer monitor, a fridge or whatever. Make an effort to ensure that you read it every day so that you keep reminding yourself or the motivation behind your decision. This will help you when you feel that things are getting tricky and it will also just remind you each day to be careful with how much you are spending.

– Check all prices – before you buy anything check the price to see whether you are paying more than necessary. You may find that if you compare prices, there will be an alternative product that is a bit cheaper. It is good to take a look as you could save some money and therefore more easily stick to your budget.

– Check bank balance frequently – it is really important to keep checking how much money you have so that you are sure you are working things out correctly. You may have calculated how much you can spend each month and be sticking to that, but you might have unexpected payments coming out of the bank account or things might be more expensive than you thought. Therefore make sure that you keep checking so that you are aware of what is going on and that you are not accidently spending money that you do not have.

– Keep a note of your spending – it is important to make sure that you note down everything that you buy and how much it cost. This will help you to remember what you have spent but will also be an interesting record. If you are finding it hard to stick to the budget, you can look through the things that you have been buying and see whether there is anything that you can cut down on in the future that could help you to more easily stick to your budget.

– Be careful of credit card spending – be wary of spending on credit cards and no credit check loans because it will be harder to keep track of. If you are checking your bank balance it will not show up in there so make sure that you check the credit card balance as well. Payments on credit cards do not happen right away so you will have to allow for this and make sure you budget for when the bill is due, so that you have enough money left form your budget to pay it. Then you will be sure not to miss any spending that you are doing. Of course, writing it down should avoid any confusion but it is still wise to keep a careful check on everything just in case.

– Find free/cheap ways to treat yourself – it can feel rather a chore to always watch you are spending and only buy things which you really need. You might feel deprived and so it can be a good idea to think about ways that you can treat yourself which cost very little money or are free. Some people will enjoy a relaxing bath or a quiet evening at home. Others might like to go out, but you could just go for a walk, take a picnic or go to a free site to explore. If you want some fun with your friends suggest you go to someone’s house and all take a booze or food donation and it will be a lot cheaper than going out.

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