Home ›› 27 Nov 2021 ›› Editorial
Budgeting takes work, especially in the first few months. You’re still getting organized, adjusting to any potential lifestyle changes, and simply getting used to the idea of being on a budget. These budgeting hacks can help and just may give you the push you need to stick to a budget once and for all.
If moving to a cash-only budget isn’t realistic for you based on your lifestyle or spending needs, you may consider switching to a cash-only budget only for problem categories. For example, if you always go over your clothing budget, consider taking out a certain amount of cash each week or month for that category. Once the money is gone, it’s gone. This will help you stick to a budget, even in your problem areas.
Some other common areas for overspending include groceries and entertainment money. If you want to look at how you spent the money within these categories, keep the receipts. This way, you can further study your spending and determine when you run into issues.
Keep in mind that for problem areas such as overspending on groceries, dividing up your money into weekly allotments may be more prudent. That way, you won’t run out of money in the middle of the month and be stuck with no food.
An easy-to-use budgeting app on your phone can make sticking to a budget much easier. It’s a great way to track what you’re spending in real-time and be able to access your budget, anytime, anywhere.
Most budgeting apps can sync with your computer or even your spouse, which makes it that much easier to stay on the same page, spending-wise. These apps also allow you to quickly check how much you have left in each category, which can help prevent overspending.
Budget meetings with your spouse and family are a great way to get your budget on the right track. A budget meeting simply means that you look over your spending, savings, and the progress of your financial goals on a regular basis so you can make changes as needed. It’s a must for married couples.
You shouldn’t discount this idea completely if you’re single. You should still have regular money check-ins with yourself, to ensure that you are sticking to your budget and working toward your financial goals.
While budget meetings may seem like a lot more work, they’ll pay off in the long run. Remember, it’s important that you are aware of where your money is going, how much you have left each month, and how well you are sticking to your budget.
thebalance