How To Make A Budget And Stick To It Story

Failing to plan is planning to fail – Benjamin Franklin

If you don’t have a budget, you are living dangerously. You have either fallen off the proverbial financial ship or are taking on water and sinking slowly without even realizing it. It’s time to learn how to make a budget and stick to it.

Budgets have a negative connotation with them, don’t they? In my early days, budgets meant no fun.

Why You Need A Budget

This rationale is based on the fear of the unknown and burying your head in the sand to ignore a problem. 

Estimate and write down as close as you can, to the exact dollar, how much income you expect to receive next month. 

Step 1: Determine Your Minimum Monthly Take Home Pay

Next, write down all your monthly bills by going over your bank account statement from the previous month and putting them into budget categories.

Step 2: Write Down Your Monthly Expense

A successful budget will make it easier to identify what you are doing right and where you can improve and cut back. 

Step 3: Cut Out Unnecessary Expenses And Build A Strategy

Try writing “needs” next to your minimum living expenses, and “wants” next to things that are not needed to keep you alive.

Needs and Want

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