Mistake 3 — Not adjusting your budgets - Deepstash
Mistake 3 — Not adjusting your budgets

Mistake 3 — Not adjusting your budgets

There are two reasons why you would adjust a budget:

  • a new recursive expense
  • a change of salary

In both cases, you need to update your budget. You can’t assume you will have the same availability and needs after these changes.

If your needs grow, your wants and savings will diminish accordingly. If they shrink, you can use all the extra money just for the Wants. And you have to save more too.

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cosminangheluta

Passionate about self-improvement, personal growth, finance, and creativity. I love to inspire people to become the better version of themselves. Author @ www.cosmopolitanmindset.com

Stop Wasting Money: Master the 50/30/20 Budget Rule for Financial Freedom – Simple Steps to Take Control of Your Finances, Save More, and Achieve Your Long-Term Goals

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