Budgets can seem stifling and restricting at times, but once you understand the value, you’ll appreciate it more. Budgeting is kind of like riding a bike, initially, you can’t find your balance but once you do, you’re set for life, no matter how long you go without it, you can always pick right back up where you left off. Today you’ll learn how to stick to a budget and learn ways to help you accelerate towards your goals.
Set a specific amount weekly
The best way to get started is to set a weekly amount to put aside, but make it a specific amount so you hold yourself accountable; It may be best to take this money out of your account so that you can physically see what you’re spending. It’s so easy to swipe a card and not think of how much you’re spending. So take a realistic amount out once and see how drastic your numbers change in a week. If you find that you’re going over budget, then you may need to go back to the drawing board and write out your expenses, which leads to number 2.
Write down your weekly expenses
For a lot of people, a lot of their bills accumulate during the first and the last of the money, so you should plan accordingly. Writing down all of your bills will be beneficial in your spending as you will be able to pinpoint exactly what is a necessity and what is excess. I had to cut back on eating out for financial and health reasons; one good thing came from the quarantine, I cook a lot more so my body and pockets are thanking me.
Open a Savings Account
This is a no-brainer. If you’re on a budget it’s usually for a big purchase or for big bills like rent or mortgage, or to purchase a house or a car. Or you could be saving for a “rainy day”, or a separate retirement account. Whatever the case, a savings account will afford you the security to safely store your hard-earned money. Most banks expect a specific deposit as a start-up and a specific amount to be in the account balance always, but if this is something that interests you, call or go to your local bank branch for more details.
Take it a Day at a Time
Sticking to a budget can be difficult, especially in the beginning. It feels like you are depriving yourself and you’re missing out on something. But with anything new, you have to give it time, and take it one day at a time. This is why you have to start small and eventually increase as you go, nobody started at expert and worked their way down to beginner, it’s insane and ludicrous.
Be patient with Yourself
Don’t let your budget consume you. Yes, you want to be aware of it, but you’re not trying to lose your mind in the process. Go out with friends, you are still allowed to have fun, even on a budget. The budget is simply for responsibility, that doesn’t mean you have to sacrifice everything else. Once you get into the swing of things you’ll begin to reap the benefits of what it means to stick to a budget and life a fulfilling life.
Now that you know how to stick to a budget the burden you can put the plan into action; You can start setting a weekly budget, saving, and managing your life as a responsible adult. Adulting is all about balancing seriousness and silliness, but it is doable. Now you can get started, but take it a day at a time. There are even apps available to help keep you on track. And know that budgeting will pay off in the long run as long as you refer back to your foundation as we all do when riding a bike.