Tips for Keeping to Your Budget

Tips for Keeping to Your Budget

If you have a budget – you know exactly how much money is coming in and how much is going out – which helps you deal with unexpected expenses much easier…


It’s one thing creating a budget – but it’s even harder sticking to that budget.

ALSO READ: How to Save Money – Top 20 Tips for Saving Money

Here are some tips for staying on budget.

  1. Always focus on savings! Have an amount direct-deposited into a saving account. This will make a big difference to you later on!
  2. Draw enough cash to last a week!  And don’t spend more than that!
  3. Stop drinking or smoking and put that money towards something else – like savings!
  4. Share the responsibility – make sure your entire household shares the responsibility of the budget!
  5. Get your debt down! Choose your loan/card with the highest interest rate – and pay as much as you can every month and get it down quickly!
  6. Keep your receipts for several weeks – keep a money diary – and keep track of exactly what you are spending on a daily/weekly/monthly basis! This makes a huge difference!
  7. Make sure you always have enough money to cover the basics.
  8. Got a money diary – keeping a record – looking at your bank statements – go through these – analyse them – see what you’re being charged for your debit orders, banking costs. Only by analysing these will you see where you can cut expenses.
  9. Set up savings accounts you can’t access easily – especially if you find you are constantly ‘borrowing’ from your savings!
  10. Be flexible! Life happens – and so do expenses. Although you need to stick to a budget – remember there are going to be times where you are going to need to be flexible with yourself!

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