It has been a while since you made your new year resolution, so how are you doing on your New Year’s goal to spend money wisely? Many of use a new year as a time to revamp the spending plan or budget and make grand goals to live within our means. However, by this time, you might be struggling to keep with it. If you are struggling with your spending plan, here are some ideas that can help you stick to it:
Focus on Improvement
Instead of focusing on your failures, look at your improvement. Are you making better spending decisions overall? While you want to learn from your mistakes, there is no reason to dwell on them. Instead, focus on the progress you have made, and congratulate yourself for doing better this year. When you focus on the improvement that your new spending plan has resulted in, you will be able re-energized and more likely to re-commit yourself to your budget.
Look Forward to the End Result
Hopefully, you have a purpose for your money. This is one of the best ways to stick with a spending plan. When you know that your money is serving a purpose, it’s easier to see the big picture. Look forward to the end result in order to stick with the plan today. Think about how good it will feel to have all that debt paid off. Remember that your current plan is going to result in achieving your nest egg goals. Consider that your current budget is in place so that you can go on that great cruise. Look forward to the end result to help you stay motivated.
Show Gratitude for What You Have
A lot of the time, we struggle with our current spending plan or budget because we wish we had something else. Instead, show gratitude for what you already have. Strive for contentment. Keep track of the great things that you do have, and learn to enjoy them. Be grateful for your family, your health, and the home you do have. Learn to be content with your 32-inch TV instead of always wishing you had a 50-inch screen. Take pleasure in the ability to go for a bike ride with your kids, rather than dwelling on the fact that, right now, you can’t go to an amusement park. Your attitude can make a big difference — and teach your children to value the simple things as well.
Look for Ways to Earn More
If you find that you are constantly outgrowing your spending plan, it might mean that you should look for ways to increase your income. You can get a second job, or start a side hustle in your free time. The idea that you will be able to adjust your spending plan after you start earning more money can help you stick through a current budget that is giving you trouble. Remind yourself that the current plan is just temporary. Most of us can stick through something we know will come to an end. Your restrictive budget is only temporary, until you improve your income. Remember that, and you will find it more bearable.
What tips do you have for sticking with your spending plan?