How to Stick to a Budget

By DriveCasa Team | Posted in Education, Personal Budgeting on Monday, March 5th, 2018 at 6:45 am
how-to-stick-to-a-budget

Saving for something you want, like a new car, can be challenging. It requires discipline, accountability, and constant monitoring of your expenses.

If you find that sticking to a budget is too difficult, there are ways you can improve. Below are a few pointers that will help you reach your financial goals in no time:

Cut Back On Expenses

It’s easy to spend money, especially on things you want.  In order to stick to your budget, you need to implement a little discipline when it comes to your expenses. Spending more than $200 a month on restaurants might not be the best idea if you have budgeted for $50. Take a hard look at your monthly spending and be realistic about where you can cut back.

Buy it Next Month

You’re online and you just saw the perfect jacket. You want it and you want it now, but your budget is reaching its limit. Tell yourself you can buy it next month. By that time, you will either have enough to buy it or you’ll decide you don’t want it anymore. This is a great technique to control impulse buying.

Set Up Auto Draft

Most banks have the ability to create an auto draft from your checkings to your savings account. This means you can set up a certain amount to be withdrawn from one account into the other every month without having to think about it. Not only will you not spend that money because it’s not available, you’ll see your savings grow without much work.

Stop Using Your Credit Card

The convenience of using a credit card can also be detrimental when trying to stick to a budget. Not feeling the pain of the expenses until weeks later makes it easy to overspend and go over your budget. Stick to your debit card or even cash so you can see what happens to your money in real time.

Watch Out for Big Events

Knowing when big spending events, such as birthdays or holidays, are coming up can help you prepare and adjust your budget accordingly. Make a calendar with all the important dates and make sure to adjust your budget with enough time to cover your expenses and not go over budget.

One last thing – don’t forget to stay positive! Remember that all the hard work you are doing will be rewarded soon. You’ll be driving that shiny car in no time!

If you’re in the market for a car, make sure to stop by Drive Casa! You’ll find the model you want in our wide inventory.

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