The 3 rules for creating an easy budget

​Creating a budget is easy but maintain a budget can be a challenge. A person no longer has to create a budget using an excel spreadsheet because there is an increasing amount of budgeting apps available such as Mint and You Need a Budget. However, creating a budget with no goal, realistic mindset, or picking what works for you is as useless as signing up for a gym membership and not knowing what to do. When creating a budget no matter if it's on an app or excel spreadsheet follow these rules.
 
Set goals
Without setting goals, you cannot achieve anything. You have to set goals or else you’ll lose motivation for maintaining a budget. Goals can range from paying off $10,000 in credit card debt, saving for a down payment on a house, or saving for a vacation trip. Without setting goals in your budget you run the risk of spending what you don't have and not managing correctly, which can be the cause of severe credit card debt. 
 
Be realistic
Saving for a brand new Mercedes Benz in one year when you’re only making $35,000 is not realistic. A realistic budget consists of living within one's means and saving for something that is within purchasing power. When I budgeted my money to pay off my credit card debt I was realistic and knowing that it would not be paid off within one year. I gave my self at the very least three years if not less. I accomplished my goal of paying off $10,000 of debt in 41 months because I was realistic.
 
Pick what works best for you
Everyone has their secret recipe for what works best. You have to decide what works best for you. For me having a budget app and writing things down on paper helps me budget my money. There are hundreds of ways to budget your money and each one may have own benefits. Listen to what others budget methods but use what works best for your needs and wants. it's

Starting a budget is easy but maintaining one can be a challenge. Do not lose sight of your money and be aware of your expenses. Spending $3.45 every day on a cup of coffee can add up without even realizing and affect your budget.
 
So how do you budget your money?

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Mr. J Real Talk

​​​Business educator and blogger.Follow Mr. J on social media @MrJRealTalk