8 Tips to Help You Stick to Your Budget
Friday, February 15, 2019
Read Time: 2 mins
Sticking to a budget can be difficult for anybody. Most of us start the month off with the best intentions of saving money and managing our spending, however, at the end of the month, many of us find out that we have exceeded our spending limit. Here are a few tips and tricks that will help you stick to your budget and become more diligent about your spending habits.
1. Pay cash.
For some people, credit cards make it too easy for you to spend more than you have. Their convenience has many upsides but could be a temptation for others. If you stick to paying for everything with cash, it can make a difference in your spending habits. If you choose this method, it is best to only the cash that you have previously planned in your budget.
2. Use coupons.
Using coupons or other store discounts are great ways to save money. You can find free coupons in magazines, newspapers and even online. Some stores also have daily, weekly and monthly coupons that are available after you download the store's mobile app. We also provide our members with discounts on things such as tickets to the Biltmore and Six Flags Over Georgia. Be careful, many stores tempt customers with offers and discounts that may seem harmless at the time, but in the long run, these deals could cause you to overspend. Avoid giving into these temptations to help stick to your budget.
3. Make a list.
A great way to avoid spending extra money is to make a list of only the items you need. If you make a list of all the things you need to purchase and how much those items cost, you will have a better idea of how much you need to spend each month. Also limiting your spending to needs versus wants may help you reduce your overall spending.
4. Shop alone.
If you shop with your family, someone is bound to find at least one item they want to purchase that is not on the list. Agreeing to make these purchases can make others in your family happy, but can also force you to spend over your budget. An excellent way to avoid this is to either shop alone or set a certain amount of money aside for such requests.
5. Track your spending.
Many small purchases can amount to a large sum of money by the end of the month. Spending a dollar here or a dollar there might not seem like a big deal, but it can take a toll on your budget over time. The best way to overcome this problem is to track your spending. If you keep track of all expenditures, no matter how small they may seem, you may be surprised to see how much you can reduce your overall spending. Consider our Online and Mobile Banking for up to the minute updates.
6. Limit shopping trips.
The less you go out, the less you are bound to spend. If you shop frequently, then the chances of you buying non-essential items can also increase. To prevent this from happening, you could assign one day for all of your weekly shopping and buy everything that you need on that day.
7. Set up automatic savings.
Automatic savings is an easy way to save, especially for a big goal. Set up an automatic draft or transfer so that your money goes right into your savings account. That way you don't spend the money on something else.
8. Set up Bill Pay.
Make paying the bills easier for you and your budget by setting up recurring bill pay items. This is great for items like your car payment, something that is the same amount every month. Additionally, this ensures that your important bills get paid.