It’s no secret that prices around the country have gone up. Gas, groceries, restaurants, and activities; living just seems to cost more these days, and having money put away for emergencies or spending wisely has never been more important. However, regardless of the time or the circumstances, regardless of if you’re a party of one or paying for a family, having a good, well-thought-out budget in place is a necessity.
It can be challenging to stick to your budget, but it can be much more challenging and stressful in the long run to end up spending more than you can afford. And to rise to that challenge, there are a few surefire strategies you can use to stick to that budget no matter what.
To Stick to a Budget, You Must Have a Budget
It sounds intuitive, but if you want to stick to your budget, you need to have a budget in the first place. Seeing the numbers physically laid out in front of you can be one of the most impactful ways to keep yourself in line. It also gives you a more accurate idea of what you’re working with.
Even if you currently have a budget, it may be time to reassess it. As prices change, the way we allocate what we spend has to change. It’s wise to have a plan, and one of the most intimidating parts of making a budget can be all the numbers to keep track of. I get it, I’m NOT a math person, nor was I an Excel person, but I have a simple spreadsheet that anyone could make. If you do find you need assistance, consult with a family member or friend that you trust to help.
It’s that little extra effort that can go a long way, and honestly, you don’t even need to use Excel. Writing it down on a piece of paper will do just fine, or downloading a simple budgeting app works too. What I do is take what I make in a year and divide it into what I make per month. Then I subtract four main categories: Taxes/Insurance, Savings, Expenses, and Discretionary Income. Expenses include necessities like groceries, car expenses, pet costs, monthly house/phone bills, and debts. Discretionary is extras like streaming services, eating out, clothing, gifts, and another important one, tithes.
Give
“Each one must give as he has decided in his heart, not reluctantly or under compulsion, for God loves a cheerful giver.” 2 Corinthians 9:7
The last sentence of my previous tip, in my opinion, is one of the most important. Tithe. While creating a budget, I think that giving should be a priority for everyone, and like the Bible says, do it as cheerfully as you can. In terms of helping you stick to your budget, I find that I’m less tempted to stop for an extra Starbucks I didn’t account for if I know that money would be coming out of what I could give at the end of the month. And giving feels better than a latte ever could.
In one of my college classes where we discussed money, one of my professors gave me a piece of advice I remember when considering how much or if someone should give. He said to give what you can. We often feel pressure to give a lot or a certain amount, and that’s the only way it counts. There’s a lot of discourse about 5% or 10%, which is appropriate, but at the end of the day, giving is giving. That $20 which was a small amount for you could make all the difference for someone else. Don’t feel bad it isn’t $100. God will always provide, and I firmly believe that He will make sure you’re never without if you’re giving.
“Give and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For the measure you use, it will be measured to you.” Luke 6:38
Plan Ahead, and Save Your Money
It can be hard to stick to your budget when you don’t account for upcoming expenses, which is why putting money away is just as important as figuring out how much you should spend. Don’t delegate money in maximums; delegate it into the minimum amount you can spare for each category so the extras get saved. You never know what is going to come up, whether it’s a happy surprise like a last-minute birthday gift or an unfortunate surprise like a damaged car.
“A wise man thinks ahead; a fool doesn’t, and even brags about it!” Proverbs 13:16
If you fail to plan, you plan to fail. Knowing in advance is great, like during Christmas, you’ll likely need to save a little more to buy gifts and décor, or you know you have a wedding coming up in June, so you should set aside some money for a wedding gift that month. Known costs are a thing, and planning for that will help you in the long run. But we can’t always know in advance. Life happens when you least expect it, which is why regardless of which month it is, you should never spend all you make.
“Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” Proverbs 21:20
Saved money is perfect for times when you need to pay for something that costs more than what you budgeted for. Unexpected injury? Refrigerator stops working? House fire? You have some money set aside in case insurance doesn’t cover what you thought it would. Or maybe you want to buy a new car, put a down payment on a house, or go on a vacation; that saved money also prevents you from going off budget. The Bible instructs in many places that saving for those unexpected or expected costs is wise:
“For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it?” Luke 14:28
What Do You Spend on The Most?
Reviewing your budget on a monthly basis is one of the most imperative tips I can give. It’s one thing to have a budget set, but it's another to check and make sure you have stuck to it. At the end of every month, prioritize sitting down and comparing what you should have spent versus what you actually spent. If you overspent in a category, that’s something you’ll know to be more cognizant of for the next month. Share this information with whoever is a part of your budget as well, whether that’s your significant other or parent, whoever is going to encourage you or hold you accountable.
If coffee is your kryptonite, maybe it’s time to invest in an at-home coffee bar. If you like going out to eat, maybe it’s time to up the grocery budget and try new, exciting recipes at home. If your Wi-Fi bill, insurance, or phone package is going up, maybe it’s time to shop around for a better deal. If makeup is costing you an arm and a leg, it can’t hurt you too much to use a drug store brand for a period of time (trust me, they’re not as dramatically worse in quality than high-end brands as they’d like you to think). Cut back where you can and find replacements.
Pay Off Your Debts
We all have debts, and they can be an unavoidable part of purchasing the more expensive things in life, like an education or a house. The best thing you can do for yourself is to get out of it as soon as possible. Devote as much spending as you can to getting that weight off your shoulders. As soon as you don’t have to devote money to paying that off, you’ll have more you can spend in other places, helping the budget not to be so tight.
“The rich rules over the poor, and the borrower is the slave of the lender.” Proverbs 22:7
Being sensible with money has its benefits in our earthly lives, but it also has long-term rewards.
“His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master’ so if you are faithful even in the small things, like money, you’ll be faithful in the big things; like when you enter into the kingdom of heaven where you’ll be entrusted with much.” Matthew 25:23
Photo Credit: ©GettyImages/fizkes
Annabelle Gross is a writer passionate about the written word and the Word. She recently graduated from Grove City College, earning a bachelor’s degree in English with a minor in Marketing. She lives in Cleveland, and when she isn’t writing her latest novel, you can find her spending time with family and friends, sailing on Lake Erie, or visiting new and exciting places.