During these uncertain financial times, you may be motivated to make some positive changes to your spending. Your best bet is to stick to your budget, but what if you are not sure if you have the right budget in place?
Ways to know that your budget just isn’t working:
- You have been avoiding making a budget
- You think it is too complicated
- Your life and expenses have changed
- Making too many small purchases
- You are giving away too much – Maybe you are doing an amazing job at saving for yourself, but you have a hard time saying no to loved ones.
What You Can Do
- Stop avoiding your budget! Start tracking one or two things to get started. It is much better to have something in place (even if it is small) than nothing at all.
- Your budget can evolve! It does not need to be complicated, especially when there are a number of free resources. You don’t need to spend more than 10 minutes on it a day. You can always adjust and evolve your budgeting habits over time!
- Life can throw some curve balls, so don’t get derailed by those changes. You can simply adjust whatever budget you have in place to include your annual expenses, potential one off events, gift giving seasons, and even an emergency fund.
- If you have recognized that you have a problem hitting the “buy button,” it may be time to take a breather before completing purchases (online or in person). Take a moment to reflect on the necessity of that purchase. If you are actively using your budget, the number of small purchases you make for non-essential items may surprise you.
- It’s okay to be a giver! Just make sure it is within your means. Incorporate gifts into your budget, they can still add up even when they are not for you.
Still Worried About What to Do?
Don’t be afraid to ask for help. There are a number of resources available to help you set a budget that will work for you. Maybe a budget won’t be enough for your current situation. If you think you may need more help, consider speaking with a qualified bankruptcy attorney.
Need More Information?
At the Law Office of Daniela Romero, we believe in relationships that are based on trust. Before we work together, we would like to get to know you and we would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case, so we can offer you representation to the fullest extent of the law. Call us today to set up a free consultation.