How to Stay in Your Budget

Create a budget and stick to it.

Having a budget and staying in that budget are two different things. If you have trouble staying within your budget, there are common sense things you can do to curb your expenses.

Instructions

1. Sticking to your budgeted amounts is the key to staying within your budget. You just can't spend more than you allowed for particular expenses. It is important to make a budget that is reasonable and possible to stay in.

2. To stay in your budget, you must have money set aside to cover unexpected expenses such as car or home repairs. You never know when the freezer may go out. You have to be prepared.

3. You need to have an emergency fund to cover any expenses associated with any illness or injury you may experience. You also need enough money saved to help you through any lost time at work that may go along with illness or injury.

4. Don't spend money that you don't have by using credit cards excessively. If you do use your credit cards make sure that you can pay them off at the end of the month to avoid interest costs.

5. Most people are not prepared for unemployment. Try to put money back for a rainy day, so you don't lose everything if you lose your job. Experts recommend having a rainy day fund equal to three to six months of expenses.

References

• MSN Money: The 50/30/20 budget fix