You have done the hard work of creating a written budget. You have reviewed a list of your expenses, you have marked where every penny of your salary goes and you have set realistic but ambitious goals. There is only one problem: it is hard for him to follow his plan.
Your budget sounds excellent in theory, but resisting the temptation to order that second drink, skipping dinner with friends or continuing to wear frayed clothes doesn't feel the same in the heat of the moment.
If that sounds exciting, check out these tips how to stick to a budget, save money and be a little more financially responsible.
1- Create an annual budget
First things: You must create a budget. This will require sitting down to calculate how much you earn each year and how much you spend on bills. According to Kimberly Palmer on Money.USNews, "most people spend about two-thirds of their income on three essential elements: food, housing and transportation." Calculate that, and then you'll know exactly how much to spare for things like savings, travel and entertainment. Decide how much you want to book for each category and then plan to stick to it.
2- Write everything you buy
And I mean everything. I did it last summer with a small notebook. I wrote down all my expenses, from small packages of gum to my large monthly bills, everything. I recommend at least a two week period. As Palmer noted, "Keeping track of each expense over a two-week period can provide information on unnecessary waste, from restaurant meals to taxi trips." It is shocking and quite revealing to see how quickly things accumulate.
3-Give yourself a subsidy
Decide how much you are willing to spend each day/week on things like gasoline and food, and then carry that amount in cash. As Joel Falconer said on Lifehack, "Take money out of your account and use real cash from a real wallet to pay your daily expenses. When you run out of bills, you will run out of money to spend." It's as simple as that.
4- Your credit card should be at home
Credit cards make it really easy to spend too much, since you can't see money leaking as you can with real cash. Before you know it, you have accumulated an invoice with small things like coffees, lunches and even unexpected wastes. So give a favor to yourself and leave your card at home, and keep it for well thought out purchases.
5- Stick to your shopping list
Buying groceries is an incredibly easy way to spend your budget, especially if you buy hungry or decide to venture into new ingredients that you will never use. But if you stick to a budget, this is not the time for any of those things. As Falconer suggested, "Stick to your shopping lists: compile them based on a detailed description of the needs of your home and never get too far from it."
6- Have multiple bank accounts
Dividing your dough into several accounts can make life much more comfortable, as well as prevent you from accidentally "spending" everything. According to Whitson Gordon on Lifehacker.org, "For example, have a savings account for your savings, a checking account for fixed expenses and a second checking account for the money you spend (which includes from groceries to" fun "). in this way, you only "see" the money you can spend, without having to think about what will come next. "
7- Stop wasting money on junk food
If you constantly eat food for breakfast, lunch and dinner, your bank account will obviously run out quickly. Try to have breakfast before going to work, be sure to bring a packed lunch and promise that you will cook more often at home. It may not be so much fun, but your hard-earned money will last longer, and that makes it worthwhile.
8- Stop wasting
We are all quite wasteful when it comes to leaving the lights on and throwing the toothpaste tubes before they are completely empty. Start being a little more stingy with such things, all in the name of your budget. As Falconer said: "Use every last piece of everything you buy ... Don't leave the taps running, don't throw the room out of a dinner plate you didn't eat." I'm not saying you have to be stingy with these things. Just be more aware of how much you can milk your finances.
After all, you work very hard for your money, so it would be a shame to spend everything on unnecessary purchases, waste and other totally preventable things. Complying with a budget is as easy as being aware of your little bad habits, and then restarting them until your finances are back under control. Do this and you will be rolling in mass before you know it.