If you are in the healthy habit of doing your budget on a regular basis, but still find your funds are dwindling, it may be time for a radical analysis to learn why. Take heed of this advice and you will soon find you have money you never thought that you would.
The Healthy Habits on a Budget
For starters, make sure that your budget is very direct. Be honest with yourself, and make sure to cover each and every detail. If you spend money each month on a car wash, record it in your budget. If you have a dog and purchase dog food regularly, record it. If they need grooming regularly, write it down. This way you do not have any surprises. The less surprises the better. If you know what you are planning ahead of time, you will be empowered with a better ability to do what needs to be done about any budgeting shortcomings.
If you do find yourself in the red, adjust your monthly spending accordingly. For example, the generic brand dog food may save you ten dollars a month. Another great example is to keep your thermostat at a slightly less comfortable temperature. This allows you to budget for less in these miscellaneous areas.
Don’t allow yourself to be in a situation where you don’t have money set aside for a rainy day or an emergency. Many people wind up in financial ruin during these difficult times due to counting on high interest credit cards to pay for items and services, and then cannot afford the bills on the credit cards. As such, debt accumulates and your credit is obliterated. Having a stable savings account to which you constantly add to will protect you and even give you some leisure money, should the desire arise.
Try to stay away from the temptation of large purchases. Maybe you have wanted a new couch, a new bed or a new wardrobe. If you don’t make the money to do this on a whim, don’t be tempted to put it on a credit card. You will only make your situation worse.
If you cannot fight the temptation, take steps to do something that helps you curtail spending at a whim. Destroy your debit card. Some people find spending money on a debit card makes it too easy. By cutting it up and instead needing to use cash when you need it, your lazy instincts will kick in due to not wanting to go to the bank each time you want to make a purchase. You may take sixty bucks out that day, but when it runs out, you’re not likely to keep going back for sixty dollars each time.
If you carefully map out your budget you will find that you can still go out and have a good time and even start saving a little. There are a couple changes in habit that you can make so that saving more and spending less becomes easier. Amongst these are destroying your debit cards and establishing a rainy day fund.
