The "B" word.

Oh, that word. I think it is the most used and talked about word in all personal finance. Sadly, I think the word budget gets a bad rap. When anyone brings up the word most people go straight to a negative place with the word, and they think about what they can’t have or do. It has more to do with just setting some reasonable boundaries to stay within, so you don’t add to your problem. I believe the main key to budgeting is to be realistic. I know when the first time I created a budget I thought I would be able to save over 30% of my check and add that to my debt. Guess what, it didn’t work, and I got discouraged and didn’t do a budget the next month. It is much easier to give up a few things at a time then to go completely cold turkey on everything and know all you think about is what you’re not doing- instead of the progress you are making.

DO-Sit down and guesstimate your overall budget.

DO-Realize every month will be different.

DO-Be realistic and flexible.

DO-Sit down and align with your partner so the are on board too.

DO-Build some fun or entertainment into the budget.

DON’T- Be too hard on yourself. It takes practice and time to perfect budgeting.

DON’T- Give up.