This becomes a problem when you’re spending for a life you can’t afford. It puts pressure on your budget and encourages you to live in a paycheck to paycheck cycle.Assess your financial situation, cut back on your expenses, prioritize your money goals, and then come up with a new spending plan.

Budgeting for a Life You Can’t Afford

It’s hard to stick to a budget that doesn’t have a goal.When there isn’t one, your budget becomes an afterthought rather than a spending plan to reach your financial goals.

Budgeting Without a Purpose

It’s important to have an emergency fund. When your car breaks down, you have money to pull from, rather than screwing up your budget for the next few months until you get back on track.It might take you some time and slow down your goal progress, but building an emergency fund will keep you from blowing your budget.

Not Having a Cushion

Budget for the life you have. When you’re going through your budget and assigning spending categories, be realistic. Don’t tell yourself you’ll never buy a single discretionary item, because you’re setting yourself up for failure. Give yourself some breathing room.

Making Your Budget Too Strict

If you keep blowing your budget because expenses “pop up” every month, you’re probably not budgeting for irregular expenses.It’s a common budget problem with an easy fix: find those quarterly, annual, and other seemingly random expenses, and add them in.

Forgetting About Irregular Expenses

It's not too hard to build a basic budget, and a few tips and tricks can help you make it really solid. But even a good budget can go awry. There are a handful of mistakes that throw people off, but the good news is: these mistakes are easy enough to fix.

Making Your Budget Too Strict

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