Now and then we come across an athlete who can perform without training, a student who can get A’s  without studying and a young man who can pick up without a wingman.

Unfortunately, we aren’t all that blessed.

So let me share the truth – just because you do a budget it does not mean that the budget will work.

You need to train, study and pick up….a pen and paper to understand how you are progressing – when you start to commit to your budget here are a few of my private tips:

  1. Reduce your expenses slowly – I found 1 item per week and dropped it by 10%. This might be insurance one week and beer the next. Once you have dropped it, make sure your stick to it for the next 4 weeks, after that it will become the habit.
  2. Join the Income SocietyCheck it out here
  3. Compare – run two budgets on the one sheet; 1 that you want to achieve and 1 that you are actually living. I used to sit down every Sunday to see if I am in front or behind. Brixn has a handy budget to help you with this process; get in contact with us to grab a copy.
  4. Set Goals – Set yourself goals no longer than 30 – 60 days. If you overachieved don’t hesitate to reward yourself. With the extra $ perhaps you could buy yourself something, or save for your holiday.
  5. Review the big tickets – check through the items that are costing you the most and review, cancel or sell.
    1. Review the must haves (insurances, phone bills, etc)
    2. Cancel the unused (Foxtel, Gym Membership, etc)
    3. Sell the big items (downgrade your vehicle?)
  6. Be thrifty – buy when on discount or look second hand.