Sticking To Your Budget

So youʻve directed your money WHERE to go by creating a budget, youʻve told your money WHEN to go by scheduling your budget.....Now What?

Sticking To Your Budget
Like any plan, it means nothing without a little action put behind it. So now you must stick to your budget. This is the step where a lot of people start off real good and then one slip up and the budget is out the window. Kind of like going on a strict diet, you do well for a couple of weeks and then go to a party, pig out and thatʻs it....no more diet. The key word here is STRICT. Although a budget is meant to help you stay disciplined in the way you spend your money, a budget is not meant to RESTRICT you in any shape way or form. A budget is merely a way to make sure your financial obligations are met on time and that you have money available to do the things that you want to do, so you can live your life they way you wish.

If you find that you donʻt end up with a lot of money to do the things you want, this is where you have the opportunity to take inventory of what you are spending your money on and if it matches the lifestyle you wish to live. If it doesnʻt match, then work to get rid of the financial obligations that are holding you back. Keep in mind that the change wonʻt happen instantly, just like you wonʻt lose 40lbs in a week.

One tip I have to help you stick to your budget, is through accountability. If you created a couple or family budget then make sure everyoneʻs goals are aligned, and hold each other accountable for each persons actions. If someone does a good job by forgoing that extra stop at Starbucks a couple times a week. Acknowledge that victory. If someone goes a little overboard with an unplanned and unnecessary shopping trip, call them out on it as nicely as possible. Let them know that because they spent more than budgeted for a shopping trip, that there is an opportunity cost to that behavior, because that money was supposed to go towards something else.

If you created a personal budget, then find a trusted friend or family member who agrees to be your accountability partner. Let them know your goals and ask them to help you achieve them by checking in with you from time to time on how you are doing with following your budget.

At the beginning, following a budget will be difficult, youʻll have to make adjustments to your budget as you go through the first few month. Once you get the hang of it and your behavior with money is aligned with your budget, then you will see the fruits of your labor, by eventually reaching your financial goals.