Budgeting=Boring! 5 Tips to Help You Budget Better

Everyone wants to get your money, it is up to you to decide where it goes. Here are five basic budgeting tips to help you keep more of your money.

1)  Sit down and create a very realistic budget.


You really just need to devote the time to this.  One easy way to get started is to take a month and save every receipt that you get.  I mean every single receipt.  Be diligent! It will pay off!  ( A little budgeting humor)  This will help you track where every penny of yours goes.  You can then sit down at the end of the month and make realistic budget categories.  Avoid categories like miscellaneous, or extras... they show no detail of where your money is going.  Do this and apply it to your real take home income.  Prepared to be shocked at how much money you are wasting.

For some free budgeting spreadsheets, check here.



2) Be realistic! 


I know this sounds like a recurring theme, and it is.  If you are not realistic about your budget you will never stick to it.  You need to be realistic about cutting and spending.  Assign realistic amounts to each category.  You will always have emergencies that pop up.  Try to account for these in your categories.  For example, automobile repairs always seem to pop up when they are least expected.    If you don't have any automobile repairs this month, put that money in your savings and save it for when you do have to have your automobile repaired. 


3) If you have trouble, use an envelope system.


The envelope system is a cash system.  You assign categories to envelopes and when the money is gone out of that envelope, it is gone for that category.  For some examples of envelope systems check here and here.





4) Commit to sticking to your budget.

No matter what budgeting system you use, commit to stick to it. It will pay off in the end (there's that humor again).  You will never know if it works if you don't stick it out.



5) Evaluate Constantly.

Stay on top of your budget and review it often.  The more often you do it, the easier it is to stay on top of it.

You can do it, go out there and take control of your financial life!


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