Budgeting does not always come naturally. I know it didn’t for me. When my husband and I got married, we planned to set one up and did so right away. However, writing one is different than living one out! A few habits needed to form…
We decided to track every dollar spent and saved in our budget. The only problem was that I did most of the shopping and I had to keep up with all those little, pesky receipts! I was (really) not into that part so much but went with my husband’s requests and encouragement to keep up with them.
Fast forward several years and let me say that I’m thankful that we went that route! We have an amazing record of how we’ve spent our money. Even if you don’t budget quite to that detail, a budget will enable you to save more and pay down debt more quickly.
Over time, I’ve realized that a budget takes practice and a few habits begin to take shape the longer you budget. These habits are often beneficial to any budgeting journey and they can help you if you’re just starting out too!
Habits of Budgeters include:
When you begin to budget, you end up watching your money more closely. Therefore, a little frugality will often start to set in. This is a great way to meet (or beat!) your budget.
Our budget allows me to see how much money we’ve spent for the month at a quick glance. If I see that I’m getting close on my grocery budget, then I’ll trim back what I’m buying to make it to the end of the month and stay within budget.
Think frugally sometimes and you’ll find it’s easier to resist overspending and going outside of your budget for the month.
Budgeters tend to set goals and work hard to achieve them. If you want to pay down debt, save up to buy a purchase in cash or have extra money for a rainy day, then a budget is an inspiring way to work toward those plans. Set a goal and change behaviors as needed to pull off your goals.
People that live by a budget are engaged. They don’t just throw their hands up in the air and say whatever happens will just have to work itself out. Oh no, no, no…
Budgeters stay engaged and work to be strategic with their finances. In other words, they write out their plan, stick to it and will make adjustments as needed. While this takes a little planning and strategy, budgeters get in the habit because it’s crucial to their financial success.
I have learned to be flexible like Gumby when it comes to our budget! Now, I don’t mean “loosey goosey.” Rather, we try to be flexible when a need arises where we have to change up how we spend our money.
The situation may be where we ended up with less money or more money. We’ve learned that we have to be able to bounce back either way and make a decision on a whim when the unexpected happens.
Trying to stay flexible with your budget is essential. However, you will potentially drive yourself crazy if you don’t incorporate a little strategy with your ability to flex and flow. Stay open-minded and have the ability to change because both will go a long way as you budget.
Budgeters are typically quite driven when it comes to their finances. Once you’ve seen a plan in place for your household, it’s hard to imagine handling your money any other way. Habits are formed and finances are changed all because a budget is in effect!
Habits of Those That Budget