Tips for Sticking to Your Budget

Money on Fire

We’ve all heard that making a budget is one of the best ways to curb spending and start saving, but one thing is usually overlooked; how to stay on a budget. The fact is, anyone can say that they have a budget but, if you don’t stick to it, you won’t get anywhere and will basically be in the same place you started, which is in debt with little or no savings.

With that in mind here are a few tools and tips for staying on that budget you set for yourself.

Tip 1- Put money aside each month as if your savings account is another one of your monthly bills. Like your car payment, your electric bill or your mortgage, put a specific amount aside each and every month as if you’ll get a fine if you don’t.

Tip 2 – Cut down on some of your habits.  Smoking, drinking or even buying that Latte at Starbucks every day is eating away at your cash and also your health.  You don’t have to quit completely but cutting back on the expensive (and unhealthy) habits can save you a LOT of money.

Tip 3 – Convert to Cash. If you have a spending problem convert to using cash only and see how quickly your monthly Credit Card bills go down.  Determine the amount you can spend at the beginning of each week and don’t spend more, no matter what.  It’s tough at first, but it works.

Tip 4 – Pay your higher interest Credit Cards first using as much money as you can, and work your way down to the smallest, lowest interest cards.  Do this until all your cards are paid off and then stop using them, or at least use them much more sparingly.

These are some of the best tips for making and sticking to a budget. If you can start with these and get a good grip on them you will be well on your way to sticking to that budget and getting your spending under control.


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