Budget Blues?

If you have put in the time to come up with a budget but you are not more financially sound, then look at these common reasons. Here is the link to a personal finance budget worksheet for you to use.

 

Missing Categories?

Often budgets are missing pertinent and relevant categories. If the budget did not consider an expense account like groceries, then that will have quite an impact (we do need to eat) then you will not have budgeted for food. Even if you just spend fifty dollars a week, that adds up to $200 a month that is not properly accounted for and will throw any budget off. This will throw off your progress from a financial perspective. Still do not get discouraged. Make the necessary changes and go again.

 

Not Sticking to Your Plan?

Your budget is not missing any categories, but you still are not better off than you were the last few months. Is the reason that you are not sticking to the budget you have set for yourself? We all have trouble sticking to plans from time to time or maybe this is the first time in your life that you have set up a plan or goals for yourself. Do not give up on yourself and most definitely do not beat yourself up! It is ok, just do a reset and stay positive.  Visualization can be a great way to get back on track. That can be anything from writing down your financial goals or what you are striving for to putting pictures of your desires all over your spaces.

 

Maybe you did not make the changes happen to help yourself reach your financial success path. Remind yourself of how excited you will be when you reach some milestones.

 

Overspending

Perhaps you are spending money you do not have. A daily money journal could benefit you. Sometimes we do not realize how much small incidental purchases can add up to or how fast they do add up.

 

One Example

One example is buying lunch out every day.  Say your lunch is $5 each day, that is $25 a week or $100 a month. Through some careful planning, you could possibly spend half of that a week. That is $50 a month that you could put in other places. That is $600 a year to put into paying down debt as just one example.

 

Do you have a budget but are not more solvent after a few months, then let me know.  If you have some advice to add, let me know that too.

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