I find myself making budgets but failing to maintain them. I have direct deposit set up to save 20% to savings and 10% to an emergency fund. I really want to commit to my budget to get out of debt and build a healthy financial life. Any tips?
First of all, saving 30% of your income is impressive! Changing habits can be tough, though. Many people struggle with a bad relationship with money. To make meaningful changes, consider working on your mindset about money, building healthy habits, and finding a supportive community.
I set small goals for my debt and revisited my budget weekly. Celebrating small wins kept me motivated. Achieving those goals made budgeting feel rewarding!
Consider working with a budget coach. Budgeting is a skill that takes time to master, and having someone to talk to can be really helpful.
Start by tracking every penny you spend for a few months. This information will help you draft a realistic budget without feeling restricted.
I follow the 24-hour rule for non-essentials. Often, the urge to buy passes, and I realize I don’t need it. I also categorize my spending and review my purchases weekly.
Think of your budget as a way to prioritize what truly makes you happy. Track your spending to catch patterns and make adjustments as needed.