Make Budgeting a Healthy Habit
Often times we avoid making a budget its too hard, too complicated, or it’s the ignition for the “money argument”. At Easton Motors EZ Credit, we understand and want to help! When we have a healthy budget it ensures we have the money for the things we need and want, and gets us out of debt or keeps us from getting into debt.
Here are a couple of tips to help with your budget to ease the tension and be successful.
Have a budget date set aside, with uninterrupted time as a couple or as a household to have the discussion of a budget. If single, find someone to hold you accountable. A parent, sibling, or good friend that will truly hold you accountable. Make time to have honest discussions about your budget; the first couple conversations may take a little longer until you get it down.
Budget every dollar in the household. Put your income at the top of the page, and then assign your money. Give your dollars a mission all the way down the page until every dollar has a name. If there is an amount that is left over after all the bills are paid, create a purpose in the budget. Put it into savings, emergency fund, Christmas fund or another personal goal that needs to be saved for.
Budgets vary from month to month. Watering the lawn, heat or a/c - bills can change from month to month. Remember the little things that can impact your month. School supplies, holidays and birthdays, vacations, and medical appointments can all impact a budget each month differently and may not be needed to budgeted for each month.
Like any good plan we need to have an end goal in mind and a solid plan to get to that goal. This means we may need to be realistic and trim our budget from time to time to get on track or stay on track. You may need to build in a buffer with your budget until you get it down or to plan for the unexpected. Plan to start, save for, or add to an emergency fund, retirement and other goals that require additional attention. Stay focused on the why - it’s the reason for making these sacrifices with your budget!
When coming up with your budget, make a schedule of when the money will be coming in and going out. Plan for those dates to prevent late fees. Setup automatic withdrawals to minimize not paying the bills on time and to stick to the schedule. Planning grocery day and when we get gas will only add to the stability of when the money is going out to keep track of the expenses.
Final Thought
You have much more than you realize! Don’t compare your situation to anyone else’s. Comparison will not only rob you of your joy, but also your paycheck. Keep moving forward and doing what’s right for you and your family!
It usually takes three to four months to get a handle on this whole budgeting thing. It won’t be perfect the first time, or the second. But you’ll get there! Give yourself a little slack, have fun, and don’t be afraid to use budgeting tools or ask for help to get started.
Ready to take the next step? Check out our newest promotion and see how we can help!