Making a budget is hard. Sticking to it is even harder. Here are five things that can help:
#1: Set a Goal
Work towards something. Whether it’s a dream vacation or a down payment on new house, you have to incentivize yourself to save. Instead of saving for saving’s sake, setting a goal leaves you with a set financial threshold you hope to reach, and the reward needed to see it through.
#2: Total Your Monthly Income—and Expenses
Add up your monthly earnings. Then add up your typical monthly expenses. When you have these two columns, it’s easier to figure out how much you’d prefer to earn and how much you can realistically save by cutting down on spending. Writing it down on a piece of paper erases any delusions you might have about your financial situation.