Don’t just create a budget, use these methods to help you stick to your budget and reach your financial goals!
Paycheck Budgeting
Many advisors encourage budgeting for an entire month, however it is better to budget according to your pay date. For example, if you are paid on the first and the 15th, you should budget for two weeks at a time.
This will give you an idea of the amount you are able to spend now using your current resources and help you stay within your budget.
See it in Black and White
While it is not a bad idea to have your budget running through your mind, the reality is you will never be able to conquer your finances this way. I know… I’ve tried!!
One of the ways that has been proven to be effective in my life is to write out my budget. And of course, I love the finance app, Mint.com.
Whether you write it or use an app, the most important part is to adopt a method that works for your life.
Don’t Fool Yourself
I can’t tell you the many times I tried to stick to a budget but kept lying to myself. You know the lies.
“I will eat tuna this month to save money.”
“I won’t shop ever again.”
After I realized that I do in fact want to eat more than tuna and yes, I may need new clothing from time and time, I began to do something that has worked for me. Simply put these items in my budget!
So now, I don’t eliminate what I enjoy from my budget but I do put a limit on the amount I can spend. This helps me to be realistic about my budget and more importantly stick to it!
Remember: your choice, your future!
Kemberley Washington is a professor at Dillard University and certified public accountant. Check out her ebook, The Ten Commandments to a Financial Healing. Follow Kem on Twitter @kemwashcpa.
