Now and then we come across an athlete who can perform without training, a student who can get A’s without studying and a young man who can pick up without a wingman.
Unfortunately, we aren’t all that blessed.
So let me share the truth – just because you do a budget it does not mean that the budget will work.
You need to train, study and pick up….a pen and paper to understand how you are progressing – when you start to commit to your budget here are a few of my private tips:
- Reduce your expenses slowly – I found 1 item per week and dropped it by 10%. This might be insurance one week and beer the next. Once you have dropped it, make sure your stick to it for the next 4 weeks, after that it will become the habit.
- Join the Income Society – Check it out here
- Compare – run two budgets on the one sheet; 1 that you want to achieve and 1 that you are actually living. I used to sit down every Sunday to see if I am in front or behind. Brixn has a handy budget to help you with this process; get in contact with us to grab a copy.
- Set Goals – Set yourself goals no longer than 30 – 60 days. If you overachieved don’t hesitate to reward yourself. With the extra $ perhaps you could buy yourself something, or save for your holiday.
- Review the big tickets – check through the items that are costing you the most and review, cancel or sell.
- Review the must haves (insurances, phone bills, etc)
- Cancel the unused (Foxtel, Gym Membership, etc)
- Sell the big items (downgrade your vehicle?)
- Be thrifty – buy when on discount or look second hand.
- Date - August 1, 2017