Most of us know that we need a budget, most of us have created at least one budget in our lifetime, some of us create budget upon budget upon budget, yet we don’t manage our money well. Maybe we forget, maybe we get lazy or bored. Bud budgeting doesn’t have to be hard; there are some innovative and easy methods we all can use to track our money. Here are some options:
• Mint.com. This handy website packs more budgeting tools than you can imagine and what’s even better is that it is free. You can create a budget plan and list all of your bank and credit card accounts and expenses. Mint will automatically update your budget when changes occur, such as when your banking fees change or when you spend money. You’ll never have to type in what you spent or import any data. All the tracking is done for you automatically and the changes are reflected daily, so you know where you are at with your money.
• Shop with cash. This may sound old fashioned, but it works. Leave your credit or debit card at home and take with you the amount of cash you’d like to spend (well, take slightly more than what you want to spend). Carry a calculator when you are loading your cart and even if you go over your budget, you’ll have to put an item or two back because you won’t be able to pay for them. Embarrassing? Maybe, but who cares. You are guaranteed to never go over your budget.
• Stay accountable. Ask your partner to go with you on certain shopping trips. You are less likely to overspend with his or her watchful eye tracking your purchases.
Everyone can set up a budget, but sticking to it may require some untraditional creativity.
