Four Tips For Dealing With Budget Problems

by Dual Income No Kids on November 17, 2009 · 0 comments

Hi All,

Budgeting can be a fine art. If you’re like 99% of the rest of the human race, you may be experiencing occasional issues sticking to a budget. If so, here are some tips you might consider for staying on track.

1) Write it down. When you write something down, it tends to make it more concrete in your mind. Writing it down is about clearing your head, identifying what you want, and setting your intent. There isn’t any right way to do this, just do it.

2) Try the envelope system. Its a little old fashioned, but here is how it works. Take some envelopes, write the budget categories on the envelopes, then put the amount of cash you’ve got budgeted for each category in the envelope. Then once the money in the envelope is gone, don’t buy anything else in that budget category. Its that easy.

3) Decompose the problem. One way that people can sabotage themselves is by focusing on the negative. So, one way to stay motivated is to break your budget down into smaller problems. Say, for example if you are constantly over running your entertainment and your clothes budget, you might consider setting a goal to meet your targets for your entertainment budget only. Sometimes dividing a problem up is easier than addressing it all at once.

4) Stay away from situations that tempt you to spend. Some people’s daily routines brings them into situations or into contact with persons that temp them to spend. For example if you enjoy picking up a cup of coffee on the way home from work, consider taking a different route home to avoid the temptation. Also, if you have friends who are big spenders, it might make sense to plan activities that are low cost, such as going for a walk or seeing a movie, rather than a pricier event like a sit down restaurant dinner.

Hopefully some of this helps. If you have other ideas for sticking to a budget, feel free to let us know!

Happy Budgeting!



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