Maintain a Budget

Track Consistently

The first attribute to help you maintain a budget is dedication. You must keep track of your income and expenses to maintain a budget. Regularly checking your income and expenses will help you see if your money flow is in consistent with your budget. These checks can be monthly, quarterly, or however often you want to check them.

Monthly or Quarterly Checklist:

  • Savings are equal to or greater than budgeted

  • Expense categories are equal to or lower than budgeted

  • Miscellaneous expenses are low to none

maintain a budget

Re-evaluate

Every once in a while, re-evaluate your financial goals to make sure your budget is still in line with it. This evaluation can be yearly. When income level changes look at your budget and make adjustments that will reflect your financial goals.

Re-evaluate your budget

Annual Checklist:

  • I’m still on track to achieve my financial goals

  • My financial goals are still applicable to me

Accountability

You must be accountable to yourself and have great dedication to maintain a budget. Along with remembering the motivating reason of why you should have a budget, it would be useful to talk to a friend or family member about your budget and have them check up on you to make sure you are following through with your financial goal.

Good qualities of a financial accountability partner:

  • Trustworthy

  • Thrifty

  • Inspiring

  • Compassionate

  • Understanding

  • Good at talking you out of bad decisions

  • Only judges based off your goals and objective

Get friends/family involved with your budget
Summary
Maintain a Budget
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Maintain a Budget
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Maintain a budget with The Budget Guide will help you accomplish your financial goals and become financially independent. The Budget Guide gives principles that will assist you to upkeep your budget.
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The Budget Guide
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