Most Americans live on a budget, whether they realize it or not. How your budget is setup and how you manage your money is different from person to person. For those looking to create a budget and stick to it, spoiling your budget is something that can be done rather quickly with a little over spending and unreasonable goals. U.S. News released an article that helps outline five reasons why following a budget can be difficult and how to overcome those challenges that will arise. Weston Dean Custom Homes, one of the premier Boerne Custom Home Builders
, shares tips on how to budget friendly.
Many American’s create budgets but sticking to them is an entirely different story. Did you know that on average 3 out of 5 adults actually pass on purchases or expenses because they don’t fall into the budget they have set for themselves. The other 2 out of 5 simply don’t budget at all. Most people know which category they fall into of the two.
Why is it that budgets are so hard to follow? Similar a diet, the main reason is restriction. When you are on a diet and “can’t” have your favorite foods, all you seem to want are those foods you can’t have. Your budget is the same way. As soon as someone tells you or you tell yourself you “can’t” spend money on extra-curricular things, all you want to do is buy all the things you shouldn’t be buying.
The other tough part about budgeting is extra expenses always come up. Whether it is a vet bill, speeding ticket or your AC goes out, you cannot escape life without those unexpected expenses.
All this being said, it is still possible to come up with a realistic budgeting plan that will not have you living by a spreadsheet or staying in 24/7.
First, realize most people have a lack of financial education. Most people didn’t go to school for financial planning. Since this is the case, the best thing to do is to educate yourself on financial options and financial planning, and start with baby steps. Whether you sign up for a financial program online or you meet with someone to teach you the ways of preparing a realistic budget, be sure to take each step one at a time.
You cannot become a non-budgeter to a budgeting-pro overnight. This, more likely than not, will lead to failure. Instead, take realistic baby steps and work your way up from there. Maybe start with cutting out your daily trip to Starbucks and making your coffee from home. One small change will lead to even bigger ones, over time.
Weston Dean Homes is a San Antonio area custom home builder. For more information call (210) 408-9107.