STICK TO YOUR BUDGET PLAN

Like diets and gym memberships, the best-laid budget plans are useless if you don’t stick to them. With just a few dedicated minutes a week, you can keep your money streamlined and efficient.

1Pick the right space. Find a place to store your list of expenses and receipts until you’re ready to reconcile them. No need to build a separate study or install a mahogany desk: a space on the kitchen counter or the dinner table will do just fine. Be sure the space is clean and without distractions. Consider a shoe box or cheap office bin to keep the bills, receipts, and canceled checks together. Remember, don’t remove the bills from the bin until you’re sure they’ve cleared your account.

2 Keep budgeting simple. A budget must track incoming cash and outgoing expenses. Additionally, you might want to subtract anticipated expenses like groceries, day care, or entertainment. You can record your budget with a professional software package, but you can do just as well with a basic spreadsheet program or a good old fashioned notebook and calculator. Whichever you decide, keep it consistent; don’t mark last week’s budget on a spreadsheet and this week’s on a napkin. If you want to successfully track spending over time, keep it neat and in one place. expenses, and reconcile any recent checks from your checkbook. When you’re finished, reward yourself. Good habits are built through repetition and reward. Save that cup of hot chocolate or that favorite movie until these tasks are done. Train your mind to associate budgeting with a reward rather than stress and boredom.

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Make your budget a routine, not a chore. A good budget simply means sticking to a routine. Once a week for about 15 minutes can make all the difference. Sit down with your bills, receipts, and checkbook. Prepare any bills that need to be mailed, record your latest

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Don’t be ambushed by avoidable mistakes. Nothing blows a budget like a late fee. Look at the dates on the bills. If the bills are being mailed, give yourself two or three days, so they arrive on time. Order personal checks well before you get to the end of the checkbook. Consider placing a new order when you start the final book.