How To Make A Realistic Budget? Ways to Stick to Your Budget

Simple Steps To Make A Realistic Budget And Stick To It

How To Make A Realistic Budget (And Stick To It)! With the sluggish pace of economic growth, it’s time to make a budget and even harder to follow one, given the lack of financial opportunities. But, it’s essential to have a budget if you want to save more and spend smartly. With a good budget, you can save money to spend in the case of emergencies or to just splurge on a luxury vacation later on!

So, how is it possible to create an organised budget and, more importantly, stick to it? Fortunately, you’re not in this alone! We did our research and found the best tips to make a realistic budget and stick to it. Keep reading to find out what you can do to budget smartly!

1. Prioritise Your Essentials

Before setting your budget, list down your essentials, for example, basic amenities like bills, utilities, and groceries. Once done, you can start listing down other costs you incur that are not essentially necessary. Making a list will not only organise your expenses but also help you realise that certain things are unimportant and can be discarded.

2. Save Your Pennies

Save your pennies. When your budget is tight, it can leave little room to save. However, hope is not lost. Contrary to the traditional advice, ‘save as much as you can’ try saving little by little even if it’s just $2. Keep a jar where you can drop some loose change. You will be surprised as to how much may add up to!

Read More:

3. Try Envelope Budgeting

Dave Ramsey’s envelope budgeting system has become common among budget pioneers. The principle is as simple as it sounds. Gather some envelopes and categorise them with your priority expenses like commute, bills, and food. Then allocate a specific amount, whatever you feel is appropriate, for each category. Place each amount in the corresponding envelope. You may only use the money in the envelope to cover your expenses.

Once the amount is used up, you cannot add more money into that particular envelope. This will keep your budget limited and allow you to save. Although it requires sturdy discipline, you can keep an envelope marked ‘miscellaneous’ for your personal use, which you can spend on events like parties.

4. Give Yourself Some Allowance

Give yourself some allowance. You don’t need to follow a strict budget all the time, but that doesn’t mean you should completely forget about it either. Sometimes making a realistic budget means we have to cut down on a lot of things we like to do. But that isn’t necessary! Try fun activities that don’t require a lot of money. For example, if you like shopping, use coupons, discounts, and cashback to save money.

Read More:

5. Record Your Expenses

Record and monitor your expenses carefully. Keep a diary where you can note down your expenditure and keep your budget realistic. By doing so, you can easily analyse any excessive spending and reduce it in the future. Experts suggest you record monthly so you can stay organised.


How To Make A Realistic Budget (And Stick To It)! Managing a budget is never easy. But what’s worse is not having any money saved up during a crisis. Luckily, these budgeting tricks will help you build a disciplined attitude towards your finances, and help you save some money!

Also Enjoy: How to Make 2020 the Best Year Of Your Life


How To Make A Realistic Budget (And Stick To It)!


Also See: How To Set Your Weekly Budget and Stick To It

Should You Get A Job While in College?


Fun Fact

What are the four walls?

The four walls are the things you absolutely must pay for in order to provide for yourself and your family. According to Dave Ramsey, the four walls include food, shelter, basic clothing, and basic transportation.

Dave P
Dave P
Be a little better today than yesterday.


Please enter your comment!
Please enter your name here

Stay Connected

Read On