|Sticking to Your Budget|
Budgeting is the only way that you can become wealthy, without any debt burdens or liabilities or without a lucky windfall. However, like a weight loss diet, budgets can be hard to consistently follow. By implementing several easy strategies, you can stick to your budget plan, which will eventually lead you to financial prosperity.
Make budgeting a game by challenging yourself
When you think of budgeting as a game, instead of a chore, it becomes much easier. For example, if you spent $300 last month on dining out, make it a goal to spend $250 this month. When you take this simple step, budgeting becomes much more rewarding, both personally and financially. If you are having trouble with big financial goals, begin with mini goals. When you win in this game of life, the financial rewards are real.
Once every week or month, treat yourself to an extra reasonably priced treat. For example, if you have been packing your lunch every day, use $10 and buy yourself a new book or DVD for the month. Or if you find that five bag lunch days are unbearable, take yourself out one day a week, Friday for example, everyone needs to treat themselves to something they enjoy occasionally. This will make your budget seem less like a punishment and more like a reward.
Rotate your spending categories
Once you have summed up your monthly budget, it is important to devote different days of the week to each category. For example, at the beginning of the week, you can work on spending less money on lunch. Towards the end of the week, focus on spending less money on clothes or coffee. You will not feel like you are working on the same problem area of your budget seven days a week.
If you make a purchase, use credit cards to keep track
Although you will find out that we are not fans of credit cards, if used properly they can be a great budget tool. A credit card is the perfect way to identify where you spend your money. Instead of keeping little slips of paper, allow your credit card to keep track for you. You can easily see how much money you spend daily, as well as your spending categories.
However, it is highly important that you only spend on your credit cards what you can afford to pay off when the bill arrives. No matter how great your budget is; credit card debt will quickly eat away at your savings and future financial prosperity.
Set a big goal
In any game, the goal is to win. The same holds true with the game of budgeting. When you are budgeting, create a big goal to which you strive for. For example, you may want to be debt free, buy your home, or purchase a franchise. When you have your commit to your goals, remaining true to your budget becomes much easier.
Find ways to motivate yourself to stick to your budget; you will be rewarded amply with savings and financial growth. Achieving your financial dreams begins with small steps, and your budget is one of the most important ones.