How to stay dedicated to a strict budget
The following are some tips for how to stay dedicated to a strict budget:
Tip one: Stick to the 3 R's of budget setting. If you don't do this, you will never be able to stay dedicated to a strict budget. These 3 R's are Realistic, Rewards, and Revise.
Tip two: The first R-realistic. If you want to stay dedicated to a strict budget, be sure that the budget is realistic. Do not set a budget that requires you to put $500 a month into savings if after just paying your mortgage and utilities you only have $600 dollars left.
Look at your finances, your bills, and stuff like that, then set a realistic budget. It can be tight, but you have to be able to do it if your nose is to the grind stone. So, make sure it is realistic. Realistic includes having some spending money, not having more on your plate than you can handle, etc. If you find that on your income, and with your debts, you have no way to set a realistic budget, it is time to make some changes. Start by not getting into further debt. Second, talk to your debtors and see if they can lower your monthly payments until you are in a better situation financially.
Tip three: The second R-rewards. In order to be able to stay dedicated to a strict budget, you have to build in some rewards. If you spend too much money you have to discipline yourself, if you are great at sticking to your budget, and there is some leftover money, get yourself a little reward.
If you stay dedicated to your budget, splurge a little. Go out for ice cream, budget in a little spending money, etc. If every time you get paid you take a little bit of your check and spend some of it on yourself, you will be less likely to over-indulge. People who treat themselves regularly instead of depriving themselves, are far less likely to over spend later. So, do not go over board, but spend some now so you do not have the urge to spend too much later.
Tip four: The third R-Revise. If you want to stick to a strict budget, be sure that you revise the budget you set any time that it needs revising. If you find you are constantly over spending, or that you did not give yourself enough lee way in one area, and too much in another, then revise, even things out. It has to be plausible for you to stick to it.
Tip five: Stay in. It is too easy to spend money you do not have if you go out. So, if you are trying to stay dedicated to a strict budget, be sure that you do not spend time at the mall, or online stores. If you need something from the store, go straight there, get what you need, do not browse, just go home. If you browse around, or take your time, you will buy more than you planned on. You will find something "you can't live without" and then you will blow your budget. So, avoid places you can over spend and you will have a hard time doing so.
Tip six: No credit cards. It is almost impossible to stay dedicated to a strict budget if you have a little piece of plastic in your hand that allows you to spend more money than you have. So, if you have a credit card, keep it in the freezer for emergencies.