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By Ayse Hogan
Go through a previous month of transactions and
figure out all the different areas in which you are
spending your money. Create a budget template (click
here) that works for you in order to track your
spending in each area over the upcoming month.
Set priorities.
You need to write your goals down in order to commit
to them.
Look at your net income each month and balance it
against your priorities.
Set a maximum amount for what you can spend in each
area.
Track all of your expenses over the month.
If you pay for something in cash keep the receipt.
You should update your budget template each week so
that you can adjust accordingly if you have
overspent in a particular area.
Re-evaluate at the end of the month.
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What works?
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What doesn’t?
Tip:
Anyone can write a budget.
The problem always lies in why you
can’t stick to the budget.
You need to figure out what you are
doing wrong, and often this involves looking beyond
the money.
You may need to make additional
lifestyle changes in order to meet your goals.
Sometimes the way we deal with money mimics the way
we deal with other things in our life. For example:
Once you deal with the route
problem, your
money matters should fall into place as well.
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