How To Make A Workable Budget To Stick To

 

Budgeting tends to be great in theory but difficult inaction. This is because most people treat budgeting as things they wish to doin a perfect world. However, planning and sticking to a budget is the opposite of this. It starts with setting up realistic goals and being hard on yourself.

If you think you know how to stick to a budget while being casual, then you need to stop and reconsider. The entirety of your financial planning depends on how rigid you are in living up to it. Therefore, we have created a list of things you must do to stick to a budget this year. 

 

1. Calculate Your Finances


The best way to control your finances is to know how much you make and how much of it is spent. You can make this calculation for a month and then set priorities. The necessary expense that must be deducted should be immediately cut out of your pay. The remaining expense of your month can easily be trimmed down to contribute to your savings.

2. Make A System You Are Comfortable With


Budget planning and sticking to it requires sheer will power and consistency. But collecting the motivation necessary to be consistent is not easy unless you stick to a system. If you like to track everything, then you should update your expense on an excel sheet. Try making a habit of collecting receipts and calculate your spending for the week. Once you have all the information, put it on excel, and find places to shave your unnecessary expense.

3. Estimate Entertainment Expenses


Most people believe in working with a strict budget that has no room for fun and entertainment. Although you can save a lot of money with a strict budget, it becomes difficult to carry forward. Have some breathing room for yourself and estimate your expense on entertainment. This expense is necessary to maintain your sanity. Moreover, taking out a fixed portion of your income for yourself will satisfy your urges to spend and keep you in control as well.

4. Don't Forget Occasional Spending


No matter how strictly you try to stick to a budget, some expenses are unavoidable, from going to your best friend's wedding to planning a trip with your co-workers. Everything in life cannot be controlled. Therefore, you need to take a fixed amount for occasional spending. This amount can be cut out every month and added to your occasional spending. The best way is to use money boxes. These look cute, and you won't think about the expense too often.

5. Always Be Open To Changes


Your budget is not engraved on a holy book that cannot be changed. Life is unexpected, and changes are a part of it. So make sure to review your budget after every 3 months and make tweaks as you go. Sometimes, you should give yourself a break and add more to your entertainment planning, and sometimes you can go all out strict on yourself.



In summary, budgeting is all about being your own boss and sticking to it. You can give yourself some breathing room and go on a shopping spree during the holiday season. Or you can save more and spend less. It's all up to your preferences and how you would like to lead yourself. 












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