Tips for Sticking to Your Budget

Budgets are not always simple to stick to, and some people struggle to create a budget, let alone attempt to adhere to one on a weekly basis. This is usually because a budget is not just about the big costs – all the little, seemingly inconsequential costs can make a difference too. If you struggle to run a tight ship when it comes to your finances, you may benefit from taking note of the below tips.

Calculate It

Conducting broad research into a variety of banks is a great place to start when trying to grasp what your budgeting options might be. For example, visiting a site such as and using the online budget calculator will allow you to record all your income and all your expenses including vehicle, insurance, living, loans, bills, and leisure activities. Formulaic budget planners or calculators are one of the best ways to find out exactly how much you’re spending and how much you have left over to spend or save. It also gives you a clear understanding of exactly how much money you have to dedicate to each facet of your life.

Keep Everything Separate

By separating how you spend the money you earn, it will become a much simpler process to stick to a budget. The first approach is to set up a separate account for savings, spending money, and bills. Having a savings account with a direct debit function to your weekly pay will mean a small amount is being saved automatically, and it won’t get spent elsewhere. To ensure your money stays in your savings account, you can even invest in accounts that restrict your ability to withdraw money. A separate account for bills is also a great option for budgeting as the necessary items are being taken care of first.

Cut Down

The truth is you most likely don’t need to spend as much as you do each week. By listing all your expenses, down to your daily cup of coffee, it will become clear as to what purchases are necessities and what items you can live without. Once you have this list, you can cross off what you don’t need to be spending money on and put this extra cash towards savings. Another tip for cutting down is to reassess expenses such as phone, Internet and insurance. These may be chewing away more money than they need to, so it doesn’t hurt to have a look at another provider, or consider combining particular services into bundle packages.

Although no one really likes sticking to them, and they can be time consuming and painful to manage, having a budget is key to keeping track of your finances. Without a budget, you could end up in a terrible financial situation because you have been continually struggling to meet payment deadlines. Don’t let this happen – use the above tips to help you stay on track.

What are some budgeting techniques of your own that you can’t live without? What techniques didn’t work for you? Leave your answers below and contribute to the discussion today.

Corey is an all round tech guru who has worked at some major blue chip companies. He started Poweronemedia to share his views and knowledge with the rest of the blogging world.