The easier part of a budget is creating it; the harder part is sticking to it month after month. With a little helpful advice and proof of money in the bank, you can be successful at following your budget long term.

Here are some tips to help you budget successfully:

  1. Create a smart goal-setting strategy. This might be the most important piece of advice on budgeting that you receive. What are you saving for? Always keep your goals in mind and remind yourself what it is you are working towards. Put a picture of your goal on your mirror, in your locker, or as the background on your cell phone. Make sure you set both long-term (college, car) and short-term (sweatshirt, pair of earrings) goals.
  2. Write down everything you spend for one week. And we mean everything, from a pack of gum to a magazine. It’s amazing how small things add up.
  3. Review your budget often. After the first month, take a look at your final result and see how you did. Were your expenses and income somewhat accurate, or should you make some adjustments?
  4. Make adjustments as needed. Remember, your budget isn’t carved in stone. If you find yourself spending more on clothing month after month, then it’s time to change things up a bit. You will either need to spend less on clothing (see “Ten Ways to Save Money and Ten Ways to Lose It”) or cut expenses in another area.
  5. Make a list of wants and needs. Be realistic about the difference between a want and a need. You may want that new pair of hundred dollar dress shoes, but what you really need is a pair of everyday flats for forty dollars. You can tie this list in with your goals and cross things off as you achieve them. Once you have determined your wants and needs, you can prioritize them from most to least important.
  6. Decide what’s important to you. If your favorite band is coming to town next month and you really want to see them, make sacrifices in your entertainment expenses so you can get to the concert. If the ticket costs seventy-five dollars, and your entire monthly expense is one hundred dollars, stay home for a few weeks and put the money towards the ticket. Remember, you can have anything you want—just not everything you want!
  7. Keep it simple. You don’t need an elaborate budget. By keeping things simple, you will be able to follow your budget more easily. If you are having trouble keeping track of your expenses, chances are your budget needs to be simplified.
  8. Ask for help. If you’ve tried everything, and you’re still having trouble staying on task, ask a friend for help. Some people are just really good at organizing and keeping track of money; ask someone like that to show you what works for him or her.


Sources:
MoneyAndStuff.info
FamilyEducation.com