Why your budget isn’t working — and 5 ways to fix it fast
- Allocate sufficient time to budgeting, preferably at a time when they feel calm and can focus.
- Consider partnering with someone you trust to discuss your budget, share short-term goals, get feedback, and hold yourself accountable.
- Adopt a zero-based budgeting approach to allocate all your available funds, including amounts set aside for bigger money goals.
- Aim to have at least one month’s worth of expenses saved to act as an emergency fund and to give room for error in their budget.
- Treat every month’s budget differently, allocating money towards variable expenses such as holidays and celebrations. By doing so, people will learn that a budget is not meant to be perfect but to give them peace of mind that they have a plan for their expenses.