It’s not always easy to stick to a budget. Between the spending urges and the gray areas, it’s easy to cheat. If you or someone you know is having trouble sticking to a budget that seems too strict, here are three tips to get them (or you) back on track…
Change it up: All budgets aren’t created equal. If you’re having trouble staying true to a particular type of budget, maybe it’s the wrong one for you. Maybe you’ve tried Dave Ramsey’s Envelope System and your envelope keeps ending up empty. Well maybe it’s time to try something else, like the 50/20/30 rule. The point is, if your budget isn’t working for you, find one that will.
It’s not a shoe: You want a shoe to fit snug. Sometimes your budget needs to have a little room for growth. Open another savings account (your emergency fund should already be receiving monthly contributions) and put aside a little extra from every paycheck in case something unexpected comes up. Whether it’s a weekend away for a wedding or a child’s field trip, you may sometimes need extra cash that doesn’t really qualify as an emergency.
Money can be a child: Sometimes your money gets out of control because you’re not paying close enough attention to it. Sound like your three-year-old? Don’t just look at your money once a month or once every payday. If a daily login to your mobile banking will help keep you on the right path, pick a time of day and make it a habit.