Do you have trouble sticking to your monthly budget? Use these tips to help you stay on track!
We all know that a monthly budget is important. It’s the one thing that will ensure that we don’t overspend.
The problem is…sticking to a budget can be difficult. There are so many challenges and temptations that can lead you astray.
Let’s look at how to stick to your budget when you really don’t want to.
How to Stick to Your Budget
Make Sure You’re Paying Yourself
First things first. Your monthly budget needs to include a personal allowance for you and your partner.
The amount of play money you give yourselves will depend on whether or not you’re in debt, have an emergency fund, and how your long-term goals are going.
Having just $25 a week to spend on whatever you want can make a huge difference in you sticking to your budget in other categories.
Cut Expenses You Don’t Use
Want more money for other things? Cut expenses you no longer use.
If you aren’t going to the gym, cancel your membership.
If you aren’t watching all the streaming services you’re subscribed to, cancel the ones you don’t watch.
Find Cheaper Ways to Do Things
Another great way to stick to your budget is to find cheaper ways to do things.
For example, if your family enjoys eating out each week, look for coupons, special discounts, etc. There may even be certain days of the week where you can eat for a lot less.
The same thing goes for movies. Many theaters offer cheaper tickets for weekday or early showings.
Use the Envelope System
A great way to stick to your budget is to use the envelope system. With the envelope system, you put the amount budgeted for variable expenses into envelopes.
You use that cash, and don’t touch your debit or credit cards. When you actually see the money, you’re more careful with how you spend it.
Save Where You Can
Last, but not least, save money where you can. This can mean buying items on sale, using coupons, buying in bulk, etc. to stock your pantry.
Try new habits to reduce your electric bill. Shop around for the best price on a large purchase, and call your insurance companies to ask about discounts. All these small efforts add up to help you save money.
Sticking to your budget can be hard sometimes. Give some of these strategies a try! Be smart about how you spend your money and you’ll have more money to spend on the things you want.