Budgeting and taking charge of your finances can be a little overwhelming and hard in the beginning, but the hardest part is starting. Things get easier once you start.
Your first month budgeting probably won’t be perfect and that’s okay. 🙂 Unexpected expenses come up and life happens.
The point of a budget is to be more intentional with your money. You’re not just spending to spend. You’re spending with a plan in mind.
If you need help sticking to your budget, I recommend printing out the (free) Ultimate Financial Planner. In this planner, you get a debt thermometer (which is a great motivator to pay off debt) and a lot more. It’s all you need to get started with your budget today.
Here’s a list of the BEST tips to implement so you take your budget seriously. You deserve financial freedom. You can do this.
✨ 1. Get Your Loved One Or Friend Involved
It is a million times easier to stick to a budget when you have accountability and someone to get excited with. Whether it be your significant other, best friend, sibling, or coworker, find someone to go on this journey with you.
For me, this person is my boyfriend.
We get so excited talking about numbers, where we need to spend less, and how we are going to improve next month.
Each month, you can sit down with your friend and talk about what you’re saving for, categories you’re spending less, and how you did with your budget the month before.
✨ 2. Change Your Unhealthy Mindset Around Money
The reality is, anyone and everyone have the capability to stick to a budget and manage their finances, but only some choose to do so.
What’s the difference between one person who sticks to a budget and the other person who totally avoids their budget?
Their thoughts and feelings around money.
For years, I avoided sticking to a budget. Money scared me. In the past, I’d rather sit in the dark and avoid budgeting because at least I didn’t know how much I was spending.
If you’re living in scarcity with money, struggling, and money makes you feel awful, you need to work on your money mindset.
At the Money Mindset School, you learn how to shift your beliefs so you can create the results you want with money. The feeling of stress and overwhelm will stop. You’ll learn how to stop having money problems.
Money isn’t going away. It’s going to be here for the rest of your life. Change your money mindset and feel the freedom of living without money problems at the Money Mindset School.
✨ 3. When You Spend Money Think About It This Way
When I buy something that isn’t totally necessary (say like a piece of clothing or expensive meal) I ask myself – is the cost of this worth what this can be in 30 years?
For example, let’s say I wanted to buy a new outfit for $100.
In the moment, it feels like a great idea, but I like to take a step back and think what that $100 can be worth when I retire in say, 40 years.
With compound interest and time on my side, that $100 can end up in the thousands. I can retire even sooner if I save more now.
✨ 4. Stay Educated Even If No One Around You Knows About Finances
Growing up, I had little financial guidance. My parents were divorced.
I lived with the side of the family that was horrible with money. I only saw spending, no saving. I saw many fights around money.
I could’ve easily stayed on the path of what my family members did with money, but I decided I wanted it to be different with me.
I taught myself how to handle and manage money with books, guides, and blogs while I was in college.
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Shown below is everything included. There is so much value here.
I found the most value in Debt Free In 18 Months, Pay Your Student Loans Fast, How To Budget Even If You Hate Budgeting and a few others.
For just $49, you get 45 books, courses and printables to pay off debt, budget like a boss, and reach your financial goals.
✨ 5. Save Money Without Thinking About It
If you struggle with saving money, I recommend finding a way around this by saving money without thinking about it.
You can do this by using Digit, a money-saving app that saves you money by analyzing your spending and automatically saving the perfect amount every day. You can get an idea of how it works here.
With Digit’s software, they do all the hard work for you. Digit’s algorithms learn how you spend, so you don’t have to change your lifestyle. They even know when to take a break.
✨ 6. Tackle Small To Large Debt
You may have heard of the snowball method from Dave Ramsey. It’s a great way to stay motivated to pay off debt and stick to a budget.
The snowball method works by paying off accounts one by one by starting with the smallest balances first. This way, every time you pay off an account, you’re motivated to keep going.
It really works. My boyfriend is currently doing this with his consumer debt and he is on a roll.
Lay out all of your debt on a piece of paper by smallest to largest balance. Start with the smallest and move on from there.
✨ 7. Make More Money
No matter how good you are at budgeting, you can only save so much.
If you’re trying to pay off more debt and you’ve already lowered your spending as much as possible, I recommend making more money to put toward your debt.
When I was in college, I was paying off my tuition balance by working side hustles. I was a babysitter, dog walker, virtual assistant, and freelance writer. I even ran this blog as a side hustle and turned it into a business.
If you have any questions about managing your money and budgeting, reply to this email and I’ll get back to you. 🙂
You can do this. If I can do it, so can you. Believe in yourself. Seriously, you got this! Don’t put off your budget a day longer. You deserve financial freedom.
You can create lasting change in your life by starting today.
What are you doing to stick to your budget? Share in the comments below!
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