I OFTEN meet people who tell me that the reason they gave up budgeting was because it didn’t work.
So, how do you make a budget work?
Once you’ve made a start and organised a budget the toughest part is to stick to it. And you have to stick to it for more than a couple of weeks.
It won’t work with an on-off attitude.
Think about it – this could be one of the greatest challenges you’ll ever face.
Why? Because you’ll be changing some habits that you never thought you had; plus you’ll also have to row against the tide of peer pressure.
What habits? Well, for starters, there’s the habit of swiping your plastic card without thinking about how much you’ve just spent.
Then of course there’s the habit of just buying it anyway because you’d really like it as a treat, or buying it just because “it’s cheap”.
Throw in a couple of shopping sprees for things you “just want” rather than really need, add a few takeaway meals each week as well as a sprinkling of nights-out and you have the makings of a short-lived budget.
Apart from the changes in the way you spend your money, you also have to cope with well-meaning family and friends who sabotage your plans to get your finances back in shape.
They don’t mean to, but let’s face it, it’s not in their interests for you to blaze a trail in the savings account department.
It might make them feel guilty about their own financial shape.
How to stay strong with all these adverse outside influences?
One of the first things you can do is to write your savings goal on a piece of paper, and then stick it where you will see it several times every day. This will remind you what you’re working towards, and why you’re doing it.
Then, make a promise to yourself that for the next three weeks, you’ll only go to the supermarket if you have a shopping list prepared.
Make a pact with yourself that you won’t have any unplanned shopping trips, and also make the tough decision to buy only the things that are on your list.
Do some planning in advance: weekly menus, family activities, and ways to spend your time without spending loads of money.
Getting your whole household involved will make things easier over the coming weeks.
Focus on the positive aspects of what you’re doing rather than the negative things that you perceive you’re missing out on.
It takes three weeks to change a habit, so don’t expect to wake up on the second morning and have everything under control.
Get yourself a coach, or mentor; someone to give you encouragement when things get a little tough in the first few weeks.
Spend time with positive people, and others who are going the same path as you. Sharing the load is always beneficial.
Making your budget work is a lot like losing weight.
It’s not about trimming some fat for a while then falling off the wagon until the next time you want either a guilt trip or everything is too tight again.
It’s a lifestyle change and once you realise that, you’ll move forward in leaps and bounds.
Of course, the only way to make your budget work is to actually get started and if you don’t know how, or what to do next, find somebody who can help you.
With the amount of information available these days there’s no excuse for saying you don’t know how.
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