If you’re feeling stressed about money here are 5 ways to create a budget and stick to it!
First things first… you’re not alone if feeling money stress.
There are an estimated 12 million Americans every year who apply for a loan because their money is tight.
No worries! I’m going to help you to create a budget so you have the money you needed.
Meaning? Just like a food diet, with a money diet you need to discover what works for you – without depriving yourself too much.
So, how do you create a budget you can stick to, without feeling like you’re in financial lockdown?
Here’s a foolproof plan to not only create a budget. But how to make it feel effortlessly part of your life – so you stick to it without too much struggle.
First things first, let’s get real about how much money you’re actually playing with. Look beyond your monthly take-home pay.
Factor in any side hustles, occasional bonuses, and even that birthday check from Grandma. Every penny counts.
Then, lay out your expenses. And I mean all of them—from the rent or mortgage down to the seemingly inconsequential daily coffee.
Most people grossly underestimate what they spend, especially on the small stuff. This isn’t about scolding yourself for every dime spent on latte. It’s about awareness. Understanding where your money goes is the first step to taking control of it – so you can start feeling happy and money confident.
If you’re manually managing every transaction, you’re doing it wrong. The beauty of today’s financial systems is the ability to automate almost every aspect of your financial life.
Set up your bank account so that as soon as your paycheck hits, your savings, investments, and any debt payments are automatically taken care of. What’s left is yours to spend as you please.
This “set it and forget it” approach means you’re saving without thinking about it, paying bills on time, and never accidentally dipping into money earmarked for other purposes.
Budgeting doesn’t mean cutting out all the fun. In fact, it’s quite the opposite. Allocate a portion of your budget to guilt-free spending.
This is your money to blow on whatever makes you happy.
The key here is that it’s planned spending.
By assigning yourself a specific amount each month for this purpose, you can indulge without derailing your financial goals.
The psychological effect of knowing you have this freedom can actually make it easier to stick to the rest of your budget.
Focusing on small expenses (like daily coffees) can feel like penny-pinching and often leads to budget burnout. Instead, focus on the “big wins”—significant areas where you can save large amounts.
Negotiating a better rate on insurance, refinancing your mortgage, or cutting the cord on expensive cable packages can save you hundreds or even thousands a year with just a few hours of effort.
These are the moves that make a real impact on your financial health, without making you feel like you’re sacrificing on a daily basis.
If budgeting feels tough, you can seek out smart ways to boost your earning potential.
One idea is to create income online by selling courses on a topic you’re passionate and skilled at.
If this interests you, explore my digital program: Make Profitable Courses Without The Overwhelm.
A budget isn’t set in stone. It’s a living, breathing plan that should evolve as your life does. Every few months, review your budget.
Your earnings, expenses, and financial goals will change over time, and your budget should reflect that.
Maybe you’ve paid off a debt and can now allocate more towards savings. Or perhaps you’ve decided to take a class that requires adjusting your spending elsewhere. Flexibility is key to a budget that not only works but sticks.
Creating and sticking to a budget doesn’t have to feel like a financial straitjacket. By understanding your true financial situation, automating as much as possible, allowing for guilt-free spending, focusing on big wins, and remaining adaptable, you’re setting yourself up for success.
Remember, a budget is not about restriction. It’s about making your money intentionally work for you, giving you the freedom to live the life you want.
So, embrace these strategies, and watch as your financial health transforms, almost like magic. And when you find yourself not just living within your means but thriving, you’ll know all the effort was worth it.
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