Here are three tips to help you stick to your budget. Some time ago I shared with you simple tips for staying within your budget and the comments I received showed how useful it was to break things down into simple terms.
Do you have a financial goal you want to reach or do you just simply want to start saving? You should consider starting up a budgeting plan which will help you achieve your goals much easier. However, the problem with budgeting is that it can be hard to stick to especially if you’re easily tempted by new clothes, food or even more expensive items which will pull you further away from your financial aim.
To help you stick by your budget, you should take on board these tips which will help you achieve your objectives in no time.
Visualise your goals
Before devising a budget, you should visualise exactly what you want to achieve. For example, you may want to visit your dream destination or buy your ideal home, so to make this a reality, you should create your own dream board. All you need to do is print pictures of or cut out magazine clippings and peg them up on the board, which should be placed in your bedroom, this means you can wake up every morning and remind yourself of your goals.
For when you’re out and about you should consider using a visual representation of your goal as your phone wallpaper to prevent you from making any unnecessary purchases. This will help you make smarter choices
when shopping by looking for bargains on food, clothes, or even furnishings.
In order to stick to your budget, you need to ensure it is realistic. To do this you need to establish your priorities, which are obviously food, shelter and clothing. Some people tend to cut down their necessities as much as possible
to achieve their goals in quick succession, however, this sometimes means they will go without the right food. This is not a realistic way to budget and this can lead to budgeting rebellion, which will take you back to square one.
If your goal is fairly large in financial terms, realistically you may need to consider taking on a second stream of income to boost your budget. This could include anything from a part-time job to property investment. The latter is a great way to generate both immediate and long-term income, especially if you work with property experts like RW Invest who will advise you on the property market and the best locations available. This type of income will help you budget effectively and enable you to achieve your goals quickly.
Track your outgoings
To stay on top of your budget, you need to know where your money is coming and going. The best way to do this is by keeping track of your outgoings, such as households bills, food shopping and even luxury items.
This will allow you to determine how much you can put towards your savings and also o)er an estimate of how long it will take to reach your goals.
You could also try keeping hold of your receipts for each purchase to calculate how much you are spending within a week or a month. By doing this, you can create some consistency and keep a note of where the bargains
Whatever you do, try to be as realistic as possible and push yourself to stay within your budget and achieve your goals.