Many people have a budget. While some people make sure to account for every dime and stick to the plan, many more do not. If your one of the people who can not stay focused on your financial plan, this is for you. Follow along for ideas on how to avoid spending against your budget.
Keep the Cards at Home
When it comes to staying on a budget, I have to be aware of the way I use my credit and debit cards. It is so easy to swipe, swipe, swipe. Sometimes you get what they call “swipe happy” and you don’t even realize how much you have spent until you look at your bank account statements. One way you can stop overspending like this and stay on budget is to leave those cards at home. If you don’t have access to your money, you cannot spend it. This goes for cash too. Only keep what you need in your wallet at any given time. Once it runs out, you’re done for the day.
Changing Your Mindset
I often say that no one can change something in their lives unless they change their mindset about it. You have to want to budget. Also, you need to believe you can stay within it and set real achievable and measurable goals. By establishing a reason for saving and budgeting and mapping out tiny steps to get there, you will effectively be able to avoid spending against your budget.
If you’re not good at sticking to your budget, try the envelope method. I have not tried this one myself, but my boss assures me it works. To get started on this method, you need to break your budget down into categories and assign appropriate spending limits. Later transfer that information onto envelopes. You then need to put the cash spending budget into each one. Once you have finished, go about your normal daily routine, making sure you only pay with funds in the appropriate envelope. Once all the money has gone from one budget, you have to stop spending.
There are many ways you can avoid spending against your budget and I hope we have provided a few tools to do so.
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Shatel Huntley has a Bachelor’s degree in Criminal Justice from Georgia State University. In her spare time, she works with special needs adults and travels the world. Her interests include traveling to off the beaten path destinations, shopping, couponing, and saving.