Sticking to your Monthly Budget has never been Easier!

monthly budget, savings, money talk, savings account, budgeting

How often do you take charge of your money without being miserable? How can you craft a monthly budget effectively without taking the fun out of your life?

Let’s face it, creating a monthly budget and tracking your expenses is no fun, especially if you don’t have a lot of money to play around with. Money must be made and it must be saved or else you’re setting yourself up for an uncertain future.

Follow these 3 steps below to create a budget that will help you reach your money goals.

1. Be realistic

Yes you need to save a truckload of money, but you also need to eat and move around too, so don’t starve yourself in the name of savings. If the burden is too hard, you’ll eventually quit. So be realistic. Yes, you’ll have to curb some excesses but don’t make it seem like a slave trade or you’ll fall off.

2. Use separate accounts

It’ll be much easier to save money if you separate your income. Have an entertainment account and an account for monthly expenses. You should also have a separate account for savings and investments and make it difficult to get money out of these accounts so you only go there when you have to. This will take discipline but it’s doable.

3. Make room for occasional expenses

Life happens and you can’t be ready for everything. Sometimes there’ll be unexpected bills to pay so let your budget reflect this. Be careful so you don’t use this as an excuse to overspend. You can carry over this money and use it to build an emergency fund.

At the end of the day, your budget must work for you because it’s yours. Tweak it until it fits your goals and lifestyle.

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