Budgeting

As a mom you are always aware of how your family spends and many times you find yourself creating a budget on paper, which is the easy part. Sticking to your budget is a definite challenge! It's great to have a budget written down but until you put it to action it is only just words on paper. You must make a willing effort to follow your planned budget. You can have and maintain a successful budget when you follow these five simple steps to stay on target.

Budget Commitment

Without your commitment to put to action your budget plan then all you are doing is just writing words on paper that will soon be tossed into the trash. Make it your daily purpose to review your expenses and income so there is always an understanding of where your finances stand, and a consistent reminder to stick to your goals.

Lifestyle Changes

Simple changes in your lifestyle can make it a lot easier to stay within your budget. Packing a lunch for work or school can save you up to five dollars plus a day. Multiply that by five to six days and that is 25 to 30 dollars a week. Multiply that by four weeks and that's $100 to $125 a month! Now you see how quickly that can all add up.

Make it a point to prepare yourself on a weekly basis before going to the supermarket. You start by planning your weekly meals and creating a shopping list that will be just what you need to make your meals. Take advantage of shopping days when a store is offering additional in-store savings. When you shop with a list you are less likely to overspend and stay within your planned and targeted budget.

Keep Your Focus on the End Goal

When you created your budget, you probably had an end goal in mind. Whether that goal was financial freedom, saving for a dream vacation, purchase of a new home, or simply getting out of living pay check to pay check. Write your initial goal on the top of your monthly budget as a daily reminder and motivator that you are doing all this to reach your end goal.

Think Before You Spend

When you go to shopping, venturing into a mall or store filled with the latest gadgets, or new clothing trends remind yourself of your end goal. Ask yourself this question: "Is this something that will help or hinder me from reaching my budget's end goal. In other words, is it something I need or want?" Learning to identify the difference between wants and needs is a huge step in accomplishing your end goal.

Pay Cash Not Credit

When you go shopping keep your credit cards at home. The amount that you pay in interest will rob you of your savings toward your end goal. Credit cards tend to give you a false sense of wealth when used outside of your purposed budget. If you don't have the cash, then it's probably something not worth buying. Remember, your desire is to stay on target with your budget, will be rewarded in the long run.

A budget is meant to give you the liberty to accomplish your real desires and keeping you free from the chains of debt that hold so many. Your desire to keep a budget is meant to make your life more enjoyable especially when you stay within your own guidelines.

Having a budget commitment where you are willing to have lifestyle changes to accomplish your end goal of thinking before you spend and pay with cash not credit, you will be well on your way to establish an maintain a successful budget.