Creating a budget is very important in managing your money well. If you're not like me, creating a budget probably isn't any fun. I enjoy making a budget and finding ways to somehow beat it every month. I know, I'm extremely dorky.
Here are tips on how to beat your budget from Wise Bread:
- Be realistic with your budget. Don't try and create some kind of dream budget that would be impossible to achieve.
- Include entertainment in your budget and be realistic about it. You need to have entertainment in your budget. I understand that sometime it does need to be cut for a little bit at a time, but you can't just cut fun out for months at a time.
- Adjust your budget regularly. Try and have a monthly finance meeting with your family so that everyone is on track. Your budget won't be perfect, so do slight adjustments every so often to see what you need to work on.
- Allow for budget busters. Make sure you set up an emergency fund, because not everything will fit into your budget is something big and unexpected happened.
- Give the budget a chance and some time to perfect itself. Your budgets not going to be perfect, hopefully you will constantly improve it.
- Make progress with your budget. Hopefully your budget will motivate you to lower your spending and improve your finances.
Any tips on budgeting? How did you start your budget?