Reaping the benefits of a well-balanced budget is a game of stamina and determination. You really have to be committed to your goals and be in it for the long haul!

Sticking to a budget can be a real challenge, particularly if you aren’t used to restricting yourself in any way. We all are at different levels of self-control and discipline, both practices that take time to master. But never fear, we have organized the top 6 tips that are tested and true to help you stick to your budget!

Make It Fun

We live in a world where we strive for immediate satisfaction from everything we do. Engaging in activities that are restrictive and don’t show immediate results are demoralizing to many (that’s the pitfall of dieting also!). 

Budgeting can be a downer, especially if you are taking away some of life’s pleasures. But this modern world has also made a way to make almost anything fun!

There is such a wealth of resources for budgeting these days that it should be an absolute breeze. Mobile apps enable you to “gamify” your budgeting and get pleasure out of boring budgeting tasks. 

Find out what motivates you to have fun with your budget and ingrain it into your daily routines. Do you like games, lists, or rewards? There’s something out there for everyone!

Reduce Temptation

It sounds pretty simple, and I’m sure you’ve heard it many times before, but it cannot go unmentioned.

Your brain responds so strongly to the things it likes. And if spending money is one of those things, whether it be shopping, eating out, then seeing the items you want will send strong signals to the brain.

So it’s simple, don’t look at those things. Don’t walk into the shops “just to have a look” and remove the bookmarks for your favorite online stores.

When shopping for food, go in with a list and a plan, and don’t even think about going down the aisles you don’t need to. Have set days that you visit the grocery store. Make your supplies last until the next visit. Frequent stops add more opportunities for you to succumb to the confectionery aisle.

Be Realistic

This tip is a run-on of the previous tip. It is all well and good to reduce temptation and practicing self-discipline, but you should not starve yourself of things you enjoy either!

Completely taking away the things you enjoy simply is not healthy, nor is it sustainable in the long term. While it might work great for a start, you are likely to fall hard. And you may end up feeling demoralized with budgeting altogether.

Life is full of unexpected scenarios. No matter how well you plan, things are bound to pop up. Your budget should have wiggle room so that you can deal with unexpected events or emergencies.

Without emergency money, each time you make progress, you find something that will knock you back to square one, over and over again.

Budgets only work if you approach them earnestly and realistically. While a budget template can offer you some good starting guidelines, you must personalize your budget for your lifestyle. 

Create a budget that is realistic to your income and expenditure with a spending clause and wiggle room with those unexpected expenses.

Treat Yourself

When looking at your budget, you must fit in some spending money. When things are tight, this can feel like it won’t be helpful. But, trust me, in the long term, it is!

Restriction always ends in temptations, which leads to indulgence.

Setting aside a portion of your budget for your things like eating out, shopping and entertainment, will mean you will hardly feel restricted by your budget at all.

Stay Connected to Your Motivation

When you set your initial budget, make sure you have some real “oomph” behind it. Set your budget with intention—do you want to be debt-free? Do you want to be prepared for emergencies? Saving for college? Buying a house?

Discover your motivation and the drive behind your goals. Keep them in your mind and heart always. Continually reconnect to your intentions to stay motivated when things seem tough, or you feel your budget starting to become unstable.

Track your spending every day and incorporate reviewing your budget as part of your daily routine. For some, it helps to visualize your goals and progress by plastering reminders around the home.

You can also utilize an accountability partner or a “budget buddy” to help you stay connected to your motivation. Talking about your progress with someone who shares your same goals offers a sense of camaraderie that boosts motivation.

Plan Ahead

Sometimes the budget is blown by the “unexpected.” Other times, it is blown by the expected! Don’t let special events sneak up on you. Make sure your budget is flexible. You can change it around as needed depending on how your calendar looks.

Consider a flexible budget that will morph to fit your events and calendars, or create a separate account that is added to every budget that is especially for these extra special events.

Image by: [KAROLINA GRABOWSKA]

Anyone who has ever been in debt understands how restraining it is. You have no disposable income because everything is going out. You work every day but don’t enjoy life in part because you can’t see an end to the debt cycle.

There are simple things you can do to put your finances back under your control and get out of debt. This is the year to implement strategies to put you on a financial path that gets you out of the red and back in black.

It may seem challenging, and it has its pitfalls, but you can work to lower your debt and have more money for things you love. 

Four Simple Goals

1. End Impulse Buying

Impulse buying is one of the worst things people can do and this type of behavior leads to a lot of debt. Changing this habit involves changing how you think about spending money, credit cards, and purchasing. 

People sometimes buy things to make them feel better or build their confidence because a situation has them down. This is not why you should purchase something. Purchases should only be made if you need them. 

Identifying your needs from wants is key to ending impulse shopping. One exercise is to make of list of things you need this year. Write down the cost of those things, as best as you can guess, next to them.

The next time you want to buy something at a store, remind yourself of the list. Put the money the item costs in savings toward the goals on your list rather than buying it. 

2. Take a Serious Look at Your Budget

Looking at your budget seriously will take some time and detail. Write out everything you spend money on.

Write out what monthly bills are non-negotiable, such as mortgage or rent, utilities, gas for the car. Add up both lists and compare the total to your monthly income. 

After you recover from your sudden shock, decide where you can trim. Look at your readjusted budget. Make a plan to stick to it.

3. Find Extra Money

You may discover that you don’t make enough to cover your most basic bills. If you are juggling bills every month trying to catch up before they hit collections, it is a sure sign you need better cash flow. You need to make more money. 

Many legal ways exist to make money on the side. Many work from home. Find a legitimate freelance agency to use your career skills to make some extra money. 

You can also use a hidden skill to make extra cash in your community. Sewing, watching neighbor’s pets, lawncare are a few options. Teach someone a skill.

3. Use a Realistic Plan for Saving and Spending

An adage is the 10-10-80 plan. You give 10 percent of income to church or charity while another 10 percent goes into savings. You can spend the rest with pleasure.

Some readjustments are required if you are in debt but the principle is a good one to implement now. The idea is to create habits that include regularly giving to a worthy cause and putting some in savings for emergencies. The rest can be spent on living, including bills and fun.

This is a simple way to create a weekly, bi-weekly, or monthly budget. It creates a system. Creating savings and adding to it every paycheck will make you feel better because it gives you control. It reduces stress in emergencies.

Giving away something, even a small amount like $5, regularly will make you feel richer. It also puts priorities in place because you realize others have greater needs. That reduces your spending.

4. Call All Your Creditors

Many people rely on credit professionals to do this but anyone can do it. Most creditors offer between 20 percent to 50 percent off in a settlement.

Others remove interest and late fees if you set up automatic payment arrangements. Work within your budget. Be a tough negotiator. They will strike a deal.

Conclusion

Following these four simple guidelines are easy ways to jumpstart into financial frugalness and transform yourself from a debtor into someone with some wealth. You won’t get rich quick, but you will have peace of mind knowing you are in control of your finances and headed in the right direction. 

Image credit: [KAROLINA GRABOWSKA]