ADVERTISEMENT

Reasons why you are finding it hard to stick to your budget

As useful as budgeting is, it isn’t the easiest task to accomplish either.

ADVERTISEMENT

It is not only a smart financial management move but it can also help secure one’s future by keeping track of spending habits as well as the saving habits.

As useful as budgeting is however, it isn’t the easiest task to accomplish either.

The Balance, gave an insight into some of the possible reasons why you may be finding it hard to stick to your budget.

1.You have no self-discipline

The most important rule of making a budget work is to have self-discipline. Without self-discipline, then you might as well forget about budgeting. For example, you may have budgeted to spend 5000 shillings on entertainment and leisure activities for the month but somewhere along the line you end up spending double that amount because you couldn’t resist a night out – and this brings us to our next point.

2.You don’t budget for fun activities

You don’t budget for fun activities. Yes, the amount you spend on a night out or a trip somewhere can be unpredictable but that should give you more reason to create a budget for it.

3.You haven’t given it time to work

Just like everything else in life, you need to give budgeting time to actually work. You can’t decide to get serious about your budget today and give up after two weeks because “it’s just not your thing”.

4.You don’t change your budget

You need to learn how to switch up your budget. If you discover that your food supplies take up more money then add the budget for your food supplies and reduce on other expenses that can do with a cut.

Always review your budget.

5.Your expenses are higher than your income

Be realistic when it comes to budgeting. You can’t be spending 10,000 shillings, for example, in a week on a 30,000-shilling budget.

6.There is no emergency fund

You don’t need a genius to tell you that you need an emergency fund. You’ll never know what the future holds and, in that line, need to be properly prepared for it.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Kambua shares her biggest lesson in motherhood

Kambua shares her biggest lesson in motherhood

DIY Recipes: How to make sweet potato fries

DIY Recipes: How to make sweet potato fries

South African star Ami Faku delivers rousing performance at Drip Fest [Photos]

South African star Ami Faku delivers rousing performance at Drip Fest [Photos]

Bed-time routine hack to help you fall asleep faster

Bed-time routine hack to help you fall asleep faster

5 traditional qualities money has replaced in modern relationships

5 traditional qualities money has replaced in modern relationships

Is love transactional? - First episode of Pulse LSL premiers [Video]

Is love transactional? - First episode of Pulse LSL premiers [Video]

5 things you can do if you are stuck in a queue for hours

5 things you can do if you are stuck in a queue for hours

5 reasons you should consider having a court wedding

5 reasons you should consider having a court wedding

The perfect nail color to wear when your boyfriend proposes

The perfect nail color to wear when your boyfriend proposes

ADVERTISEMENT