Common budgeting mistakes - Deepstash
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Common budgeting mistakes

Common budgeting mistakes

  1. Not Tracking Expenses: it's impossible to stick to your budget if you don't know where your money is going.
  2. Buying on Impulse: Impulse buying is expensive. 
  3. Becoming the Victim of Budget Busters.
  4. Being So Frugal It Makes You Miserable: you’ll binge later and throw all your hard work out the window. 
  5. Trying to Do Everything as Inexpensively as Possible.
  6. Not Asking for Help.

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Being frugal and miserable

Being frugal and miserable

If you try to deprive yourself too much, you’ll binge later and throw all your hard work out the window. 

A spending binge can set you back far more than treating yourself occasionally, so go for the occasional minor splurge. Just keep your treats within your spending limits and you’...

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Tracking expenses

One of the ugly truths about budgeting is that when you keep track of your expenses, it’s painfully clear when you’ve gone off track. 

Write it down when you’ve gone over your budget. The negativity you feel will help prevent you from overspending more or doing it again. Just think of th...

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IDEAS CURATED BY

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"My adversary is the world of finance." ~ Francois Hollande

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Other curated ideas on this topic:

Building a budget

  • The traditional budget starts with tracking expenses, getting rid of debt, and then building an emergency fund.
  • But you can speed up the process by building a partial emergency fund. It will act as a buffer to replace the use of a credit card for e...

Sticking to a budget

Once a budget is set up, it is not always that easy to stick to it. But that doesn't mean you have to give up because you've failed once or twice.

  • Remember the big picture. A budget keeps you out of overwhelming debt and help you build to financial freedom.
  • ...

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