Once upon a time you created a budget, and what happened? Well it probably doesn't exist anymore if you are reading this! You made one because you thought it was a good idea, but had no clue how to stick to it. You had no clue how to make one that actually works and you get results from?
WHERE IS YOUR MONEY?
Now this is a serious question. Do you know what you are even spending money on? You have to be SUPER clear, and I mean Barney SUPER DE DUPER CLEAR on what you are spending money on. You have to match your income with your outcome.
First, go through your bank statement and watch for things you pay for each month that you let spill through the cracks. Sometimes we are paying for items like a wireless home phone services, and we haven't made a phone call on the phone in a whole year. Yet we are still paying for it. Those are things that you can cut right away!
You need to start making some executive decisions on your spending. You have to decide what is reasonable. Is it reasonable for a single person to spend $600 dollars on food in one month? Is it reasonable to go shopping every weekend? Especially for the woman who wants more control of her money. You are shopping now, but are short at the end of the month? You have to spend responsibly.
THINGS MAY CHANGE
Once you make a budget and start setting limits, you may find that it doesn't work. Don't be so rigid when you set an amount for things that change, like groceries. For example you may set the food budget at $500 a month, and every month you end up at $600 instead. You will just have to readjust. Maybe you spend less in another category of your budget or you will have less extra money to pay towards debt. I also don't want you take this to mean you don't need to stick with your limits. Just give yourself room to grow in budgeting. I already advise that you guys sit down before the month starts and evaluate your budget for the month coming up, because things can change. Don't be hard on yourself. You are learning new habits, it takes time.
GET YO'SELF SOME HELP
Don't try to do this alone. We are talking about major habits that you will change. You have created your spending habits based on a mixture of things: your childhood, your emotions, and your own mindset about money. You will need help breaking these areas down and reconstructing them. Consider someone you already close with that has healthy financial habits. Ask them to breakdown what they do on a daily basis to manage their money. If you don't know anyone with healthy habits or striving to live debt free, consider local support groups or church events tailored around finances. You also have the option of reading personal finance books to equip you with the knowledge you lack. My favorite finance book of all time is Dave Ramsey Total Money Makeover*. Another option is learning from in experts in the field of personal finance. If you need advance steps to do that you can enroll into The Payback Challenge 21 days of actionable tips >>>click here to join<<<. You need steps to building a budget. You need a process that will get you the success you desire with your money.
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