In this article, we provide great tips for successful budgeting in 2025. The budgeting process is less confusing, daunting, or burdensome when you think about it with the right mindset. View our tips below.
Make Your Budget a Priority
In her article, “How to Budget Better and Pay Off Debt Faster in 2025,” Bernadette Joy explains that scheduling your budget like you would schedule a meeting with the CEO of your company ensures you make it more of a priority. Just like you would be less likely to cancel such an important meeting, you are less likely to cancel your time to budget if you apply a high level of respect and urgency to budgeting. She and her husband paid off 300k of debt in three years due to consistently budgeting every first Sunday of the month.
Give Every Dollar a Job
Think of budgeting as putting your money to work. You are managing your money—as an actual manager! Every dollar is now an employee with a job. Would it be wise to give useless tasks to an employee? No, instead, you assign them tasks that help the company progress. Each account is like one branch of your company, and you are determined to have a growing, thriving business. This mindset is practical because it gives purpose to the repetitive grind.
View Your Circle
Determine to spend time with individuals who manage money wisely. If your circle lacks these people, find a mentor, counselor, or more friends who can encourage you to make better decisions and model better habits. Also, habitually read books by reputable authors who have already reached your goals. Follow the advice of others who have already paved the way. Consider implementing their strategies without trying to be just like them because you might need to adjust their approach to work for your life.
Start Simple
If you know you are terrible at managing money, don’t start with unrealistic goals on a complicated Excel spreadsheet. Start with basic expenses minus income and enter all your transactions. Don’t ever expect perfection. Instead, aim for progress, and with consistent effort, you will improve. If you make big mistakes, acknowledge them, mourn them, and get back up.
Find a Strong Reason
Having a strong reason why will help you keep going when you encounter challenges and trials. If you face a strong temptation to give up, remembering why you decided to change can help you keep moving forward. For instance, you are a parent and never want to choose between paying off debt and feeding your children again. In this example, your strong reason is the ability to feed your children! It is one of many motivating factors that can help you maintain a budget.
Do you have a budget? What is your budgeting experience? Feel free to share your thoughts below!
Until Next Time!
– The Free Play Lotto Team!
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