Finances: 6 Ways To Stick To Your Budget

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Couple counting money image from http://theminorityeye.com/the-6-biggest-money-mistakes-black-people-make/

Just when you thought you’ve solved all your problems by making a budget, someone invites you out for dinner and you have to re-evaluate your priorities. Making a budget is only half the battle, sticking to it is another. However, you don’t have to deprive yourself of life’s simple pleasures in the name of budget. Once you master these tips, you’ll be able to comfortably pay for a movie date.

  1. Give Yourself An Allowance

You might be tempted to spend more than you budgeted for during the week. However, with an allowance, you’ll be forced to stick to your budget. You should include expenses like lunch and fuel/fare. Additionally, to ensure you spend this exact amount, use cash instead of a debit or credit card. It’s easier to manage real cash.

  1. Make A Visual Board

A visual board will be a daily reminder of your budget. You can get ideas from Pinterest to make a board that matches your intentions. Your board should contain images of what you wish to achieve. For instance, you can have pictures of your dream car, a house or university. Once you make your board, place it somewhere you’ll see frequentlyVision Boards: Why I Use One And Maybe You Should Too

  1. Use Envelopes

Another helpful method of sticking to your budget is using envelopes. If you tend to use the money for a certain thing on something else, this will help you tremendously. Put money for different items on your budget in separate envelopes and label them clearly. This way, if you need the money, you’ll know exactly how much to spend and which envelope to get it from.

Couple counting money image from http://theminorityeye.com/the-6-biggest-money-mistakes-black-people-make/
  1. Be Around Budget-Conscious People

There are two types of people – those who encourage you to save money and those who encourage your bad spending habits. If you spend time with people who stick to their budget, their habits will rub off on you. The best way to fulfil any of your goals is to find people who share the same vision as you. It might be time to get some new friends.

  1. Delete Spending Apps

If you have apps that encourage impulsive buying, get rid of them. Apps like Instagram, Jumia and Amazon can make you lose sight of your budget. Many people tend to open these apps when they’re bored and might end up buying unnecessary things. Figure out which apps make you spend money frivolously and delete them from your phone or computer.

  1. Be Realistic

Be honest with yourself. If you can hack spending a certain amount per month, don’t budget around it. Additionally, your spending habits will not change overnight. It might seem like a good idea to cut on certain things like internet subscription, but if you rely on such services it won’t be feasible. You should, therefore, make a budget that you can stick to.

Ps. Having a budget is a great way to plan your expenditure effectively and save money in the process. You can make one with even the least amount of money.

Check out 7 Tips For Revamping Your Wardrobe On A Budget

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