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Sticking to a Personal Budget

Have you ever considered taking the time necessary to create a personal budget?. It can be a difficult task, but you can achieved it. Now, you must continue to use your budget in order to make achieve your financial goals. Your personal financial plan may look great on your computer program, but your financial plan won't help if you don't correct your spontaneous spending. Here are different examples that even the biggest budget hater can follow.

1. Think before making a impulsive purchase. Having the master card,American Express, and Visa cards in your wallet or purse stops us from thinking clearly. We encounter a material item we desire and we act like a celebrity with an unlimited amount of money and "Charge it!" Then after the fact you have realized, that you have spent a portion of your monthly bill money. Now, once that is gone, there's no way to get it back until next month unless you make the right choice and return the impulsive purchase.

2. Put your credit cards away. Once they are paid off, hide them. If you carry them you will be tempted to use the cards for an unnecessary purchase again. It is okay to hold on to a few because nobody can predict when an emergency will occur.

3. Forget about that raise. Don't spend money that has not been accounted for. Sometimes raises can be forgotten or delayed. We are all notorious for planning on future purchases before the ink dries on the paycheck. So, instead of spending that money, try building up your savings, retirement or IRA account. That can be an wonderful bonus for your future retirement.

4. Try Saving your tax refund. Each year I used to rely on the tax refund to get myself out of debt once again. As a result, I unfortunately was right back into debt and needed to be bailed out again. Treat tax money like a raise or a bonus - keep it hidden.

5. Withdraw money from the ATM once a week. If you believe that you may need cash in your pocket, go to your bank just one time and budget the right amount of money that will last you for important things not for new pair of shoes or golf clubs. Why? When it is spent, there is no going back for more. Resist the urge for withdrawing more money that is not budgeted for spending.

6. Learn how to grocery shop. This seems like an easy chore but there really is an art to obtaining enough food to last, even with children. Cut coupons out of the Sunday paper. Stock up on essentials such as toilet paper, laundry detergent, soap, and the like when there is a sale. Buy common food staples in bulk. Buy meat from the butcher and have it cut up for free.

7. Get new quotes on insurance rates and utility billing. Every 3 years or so it my be beneficial to see which comapany can offer you lower rates - your current insurance agent or another.

Sticking to a personal budget may take time and patience and we all lapse into old habits sometimes. The main thought is to get right back in and don't make the same mistake repeatedly. You will reach your financial goals.

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Fred Hopkins is an 9 year personal finance veteran specializing in no doc loans and school loan consolidation. For more information on the loan programs he has available, visit www.mountaintopmtg.net. Don't reprint this article. Instead, reprint a free unique content version of this same article.

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