Five Budgeting Tips

Budgeting is an intimidating word. For those who don’t have one, it can be a source of stress. You know you should have one, but you don’t have the time, inclination, or desire to put one together. Furthermore, you don’t trust yourself to stick with it!

The good news is you don’t have to spend a lot of time on one. Good, sustainable habits are built on what we can do, and budgeting your time can be even more important than budgeting your money.

Here are 5 simple tips to follow in order to get more from your money by budgeting in a sustainable way.

1. Schedule it into your calendar. Even just 30-45 minutes per month is plenty of time. If you get a budget app like You Need a Budget or Good Budget, you can automatically track your spending. This will give you a way to plan what to spend each month.

2. Start with the largest budget items first. Focus on the big items first, that’s where you can save the most. Once you’ve worked on those parts of the budget, you can move on to the small items.

3. Budget to zero. Don’t just accept each previous month’s expenditure as a justification for future expenditures. How much do you really need for a particular budget item? It may change month to month.

4. Set goals and reward yourself. Setting goals gives you something to aim for. Rewarding yourself is critical to success because it lets you enjoy the fruits of your labor.

5. Measure your progress. That which gets measured improves. If you don’t hit a goal in a particular month, figure out why. Get as detailed as necessary in order to figure out what needs to improve and how to improve it.

If you have any questions about your budget, send me a PM or respond to this post.

Have a great weekend!

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