If you want to get out of debt, you need to budget.
If you want to save money for something [retirement, down payment on a house, vacation, etc.], you need to budget.
If you want to stop money fights with your partner, you need to budget.
How do you make budgeting easy and fun? Here are some tips from people that were in a debt situation:
- Pinpoint your goal. To start, identify a financial goal you want to achieve this month or even more short term.
- Create a schedule for when you are going to do “budgeting stuff”. It should be the same day and time each week or month. If you are budgeting with your partner, make sure to put it on their calendar too.
- Keep it simple.Use exisitng budget applications with pre-set budget categories, ready for use.
- Make it predictable. The fewer changes you have to make each month, the easier your budget is going to be. Try to minimize the changes you make to your budget categories each month.
- Reward yourself: Determine the conditions for deserving your reward. For example, you are going to get a reward each month that you stay within your budget.
- Join forces with your people around you- family, friends: Talk to your partner about your end goal. Why are you budgeting?
The secret ingredient to successful budgeting is pretty simple but so difficult: be consistent
To help you, we have created a budget tool based on the existing apps and our client experience.