Sticking To A Budget With Ease

You probably read this heading and thought that this is easier said than done, how can you possibly stick to a budget in an easy way? What you will be happy to know is that it can be done and if you are one of the millions of people out there struggling with crippling debt, then you may want to continue reading.

A budget doesn’t have to be a nightmare. One important thing that you need to remember, which may make the budget stick, is that you are doing this to reduce your debt. You want to be debt free, you want to breathe again and have money to enjoy yourself with friends and family; so sticking to a budget has more value to it than just a piece of paper filled with numbers.

So where do you start?

Set Realistic Goals

The first step to setting a good budget is to set realistic goals, which means you need to be honest about the amounts you have to pay each month; then set a realistic budget on what you are allowed to spend each month. Combining these two together and reducing them from your income may leave you with an amount which you can pay towards one of your larger debts.

Take advantage of the free apps for phones and tablets, these free software apps let you set your budget and you can update them while on the move; so every time you buy some groceries or petrol, you can update your app. The app can be set out in categories so you can quickly see where you are spending the majority of your money, which you can use to help reduce your expenses.

Be Committed – See Your Goal

If you are one of the many that ask yourself how do I get out of debt regularly, then you already have your set goal and desire in mind. See your goal, imagine it and imagine how amazing it will be when you are completely debt free. Sticking to that budget doesn’t seem that bad now does it?

Shop Wisely

Heading to the grocery store can be an expensive exercise if you haven’t planned in advance. What I normally do is set up a meal planner at home of all the meals I want to cook for two weeks or more and all the items I need to cook those meals. Using my list I head to the grocery store and I don’t put anything in my trolley that isn’t on my list. Take advantage of the buy two for the price of one deals, use vouchers if you have them and look for special promotions while you shop.

Arrange a Car Pool

One of the most expensive items you own is your car. When you think of services, MOT and tax, not to mention insurance costs; a car is a very expensive item. When you worked out your budget you may have found you pay a large amount each month on petrol and vehicle items; so why not see if you can arrange a car pool to get to and from work. This will help you and your colleagues reduce your petrol bills and the wear and tear on your vehicles?

Cut Back on Spending

How do I get out of debt? The answer is simple enough – Stop Spending! When you are out in the city with friends, avoid the urge to spend wasted money on luxury items over twenty pounds. Are those shoes really essential? If you cut back on entertainment, clothing and shopping sprees in general, you can save more than enough to pay off one of your larger debts quickly.

By Abel Froman

Abel Froman is a financial writer who enjoys writing for madison-financial.co.uk, both like seeking ways to help people find a solution to their question of how do I get out of debt?

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