Skip to content

You Created a New Budget – Now Here is How to Stick With it

Are you ready to take control of your finances for once and for all? Making a budget is a key step on the path to financial freedom. It will show you where your money is going and how much can be saved.
Credit: Pixabay

Creating a budget is the easy part. Sticking to it can be much harder!  Here is how to stick with your new budget.

Curb Impulse Spending

Don’t keep your credit cards in your wallet and don’t save them to online shopping sites as part of your account. When it comes to discretionary spending, use your debt card. If you need to use your credit card for a purchase, wait a day. If you still need it after that day, decide which part of your budget will cover the expense.

Be Frugal in Smart Ways

The dollar store is a great place to get beautiful gift wrap and greeting cards. You can also save a lot of money picking up pet food bowls, puppy pads and pet toys at the dollar store. When in a big box retail store, compare brands. Quite often the house brand is cheaper and just as good – if not better. Also check out local non-chain stores. They often have unique and high quality items that will last a long time.

Set it and Forget It

Have a set amount of your paycheck automatically directed to your emergency fund or savings account. Don’t wait until the end of the month to see what is left over to save.

Keep a Separate Spreadsheet

Your bank balance does not reflect expenses that come out automatically, such as your bank fees at month end or any bills you have automated. At the end of each day, update a spreadsheet with your purchases and pre-list automatic payments. That way you will know how much you can spend and avoid surprise overdraft fees.

Use Technology

There are many great apps to help you create and stay on a budget. A few options include YNAB, Intuit Mint,  and PocketGuard.

While sticking to a budget may seem like a hassle at first, it will ultimately give you a sense of purpose and freedom. A budget helps you save money, avoid unnecessary debt, and avoid costly overdraft fees and interest payments. If getting on top of finances is your goal, don’t just make a budget; stick to it so you can have the financial freedom you deserve.

This story is brought to you by Great West Media Content Studio. It is not written by and does not necessarily reflect the views of the editorial staff.

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks