The process of beginning to budget is a big change because it isn’t a habit and it takes time. Nowadays, I believe that we as Americans want everything quick and in front of us in the least amount of time. That is a major reason why I think that budgeting is a process that begins as a New Year’s resolution or when times are tough and we are in need of financial help. Now that you have begun the budgeting process, don’t let up. The steps that I have outlined really help you become involved in how you are spending your money. When I talked about tracking your expenses, I talked about going through each of your receipts and tracking the costs based on the expense categories that you have set up. I highlight this because it helps you really understand where your money is going. It is time consuming, no argument there. If this is the approach you are taking, stick with it. It is said that if you can do something for 21 straight days then it becomes a habit. Make it happen!
If you are electing to budget with budgeting software such as Microsoft Money, Quicken, You Need a Budget, or some other software, then stick with it. You may not be as involved in how all your money is spent but at least you will know where your money is going. Don’t become complacent even if the process is easy. Most of your information can be downloaded from your online bank account or your credit cards but don’t let that be a reason to not regularly visit your budget.
Remember, Remember if you aren’t aware of how you are spending your money, you could be in for a rude awakening one day…potentially that rainy day when a little extra cash would come in handy!
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