How to take your budgeting skills to the next level
Sticking to a budget is one of those things that sounds easier than it is. You can understand the concept of budgeting through and through and still, come the end of the month, something is off. If one of your New Year Resolutions is to become better at budgeting, you might want to try one of the strategies below.
As USA Today reports, sticking to a budget isn’t as simple as adding and subtracting. One way to keep on track is to set goals. Those goals will then inform your spending and saving strategies. You might want to save for a new car, a new apartment, or eliminate credit card debt. Whatever the goals are, having them set (preferably in writing) will help you focus, which will in turn keep your budget intact.
Use a Trick
You can curb spending by using any number of tricks. You could shop only with a specific amount of cash each month, and once that cash runs out, that’s it — no more spending. You could use an app or spreadsheets. When you find a trick that works for you, stick with it.
Learn to Say No
If you want to stick to a budget, you’re likely going to have to say “no” sometimes. No to a dinner out. No to a new computer when your old one is working just fine. No to another subscription service that you won’t use for more than a couple months. As you do it, remind yourself that what you’re really doing is saying “yes” to one of your longer-term goals. Being able to say “no” to expenses will help keep your budget going strong.
Who is FIBT?
First International Bank & Trust (FIBT) is a full-service, family-owned, independent community bank serving a wide range of communities across North Dakota, South Dakota, Minnesota, and Arizona.