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The Do Not’s of Budgeting

Most likely you have heard budgeting advice from just about everywhere. Those tips are very helpful, but there are also a few things you need to avoid to keep your budgeting on track. While there are some definite musts of budgeting, there are also some definite do not’s. Here are a few things to avoid as you fine tune your budgeting skills.

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Don’t Be Scared to Make Changes

Once you set a budget, know that things can change. Obviously that doesn’t mean that you can make changes based on wanting a new pair of shoes. Changes come when there are changes in expenses or income. When this happens don’t throw your whole budget out the window. Instead, adapt. Make a few alterations and continue budgeting.

Don’t Make it too Complicated

A simple budget is a good budget. A budget with many goals can get too complicated and you can often forget everything you are trying to accomplish. Pick a single goal. What one thing are you trying to accomplish? Are you trying to get rid of debt? Are you working to build a savings fund? Make it simple by sticking to a single goal.

Don’t Budget out Every Dollar

Creating a budget that is too strict will result in failure. If you have no wiggle room you are going to abandon the budget the first time you want to splurge on a milkshake that you forgot to work into the budget. A good budget has guideline and requires discipline, but it also shouldn’t be too strict. Create something that is not only possible to stick to, but probable.

Don’t Get Frustrated with Mistakes

If the first month or two isn’t perfect consider yourself normal. You probably forgot a few expenses and may still be in an adjustment period in regards to your spending habits. Do your best to stick to the budget, but if there are a few slip-ups take a mental note and move on. There is no reason to beat yourself up over a few mistakes.

Don’t Quit

There are times that budgeting isn’t fun. It is a little added financial paper work. And, sometimes you just want to throw in the towel and book that trip to Paris. But, don’t give up. Don’t quit. Budgeting can keep you from debt that adds stress to everyday life. Don’t quit because it is a little restricting. Rather, push through the few difficult times to help you achieve financial freedom.

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