My budgets never work! How do I make a budget that works?

Seeking Advice Forum
1

I don’t really know how to describe the situation, but I just simply suck at budgeting.

I don’t buy random toys/clothes/crap and I do go to thrift stores when I need stuff around the house or clothes.

I don’t feel like I waste a lot, but I know I do because it doesn’t matter how much money I am making, I always seem to spend it all!

I believe most of it must go to food, but I’m around 120lb and I frequently forget to eat so?? I just don’t get it.

Does anyone have some really simple solid advice on how I can start a budget and stick to it?

2

When you say ‘I believe most of it must go to food’… does that mean you don’t know where most of your money is going? Because you should start there. Look at your actual spending by going through all of your purchases and bank statements to figure out where your money goes. There are apps that can do this for you if you’re looking for something easy and automated, like YNAB, Monarch, Rocket Money, Copilot, etc.

The only budget that works is a realistic one. And you can only be realistic if you REALLY know what you are spending your money on.

3

@Hadi
Exactly! If you don’t know where your money is going, it’s impossible to make adjustments. I use YNAB and it’s been a game-changer. The first step is always tracking your actual expenses.

4

Pat said:
@Hadi
Exactly! If you don’t know where your money is going, it’s impossible to make adjustments. I use YNAB and it’s been a game-changer. The first step is always tracking your actual expenses.

Yes! I’ve been using YNAB for 2 years now. It’s incredible how much you can save just by being mindful of your spending.

5

@Hadi
I guess you’re right, I haven’t really tracked my spending in detail. I’ll give these apps a try and see where all my money is really going!

6

Get a budget coach. They specialize in helping people actually stick to a realistic budget. MyBudgetCoach has a directory of 30 coaches to choose from. Each coach has a different hourly rate but you don’t even have to meet with them one on one. You can chat and interact with most of them as part of your subscription. There’s a free trial too.

7

@Sloan
Interesting, never thought of getting a budget coach. Does the coach help with tracking or just planning?

8

Olin said:
@Sloan
Interesting, never thought of getting a budget coach. Does the coach help with tracking or just planning?

They usually help with both! They work with you to see where your money is going, and help set up a plan that’s tailored to your needs. It’s been super helpful for me.