Have you ever had trouble trying to create a budget? Does taking a peek into your checkbook ever cause you stress? Well the good news is, you are not alone. We have some of the best tips for removing a lot of the legwork, and making budgeting simple and easier for you.
First of all, keep it simple, folks. Trust me, the easiest way to get stressed out over money is by over complicating it. When you get too lost in the fine details it makes tracking your budget that much harder.
Start by figuring out what you spend in one week (bank statements, online tracking of your account, or even just writing it out). This is so you can see where the majority of your money is going and what you like to spend it on. You may be a bit surprised when you see it on paper. This way, you will be able to clearly see what you should cut back on and what your needs are.
Secondly, be honest with yourself. Don’t try to create a budget for someone else–tailor it to your lifestyle. If you like your coffee from Dunkin Donuts in the morning, put it in your budget. If you like to buy new clothes once a week, put it in your budget. The point is to make sure that 100% of your money is accounted for. Even if it is money that you just want to spend for fun, make sure you account for it. There are of course, many tracking apps like Mint, Expesify, or Slice that can help you. Being able to honestly see where your money is going is the first real step to organizing your finances.
Thirdly, action, action, action! This is probably the most important step. Following through and putting your budget into action will make all the difference between succeeding and failing. Where and how you spend your money will determine when you will reach goals you set for yourself.
Most people find it incredibly easy to pay bills online these days. Many companies even give discounts for those who switch from paper–plus you don’t have to worry about keeping everything in a cluttered file. Remember taking these things into consideration will help you not only in organizing your budget, but will also give you a chance to get ahead.
In closing, there is no secret or special answer to making a budget–the only way that it will work is if you tailor it for the needs that you have. Making sure that you are honest about your money, taking the time to organize it, and then sticking to the budget you set for yourself, will all be determining factors in creating a budget that works. The only way that you will truly see a change is by making the change yourself!