Sticking to a budget can sometimes be a challenge. You can’t always control what expenses may come up, but looking out for these seven budget busters can help to keep your budget on track. Use these techniques compliments of BALANCE to help you stay the course:

  1. Avoid those stores, malls, and online retailers where you know you have a hard time controlling your spending.
  2. Make a list of what you need before shopping, and buy only what’s on it.
  3. Occasionally reward your efforts with an affordable reward.
  4. If you’re on the verge of splurging, seek the support of a friend who knows what you are trying to accomplish.
  5. Avoid excessive use of credit. Since you don’t have to pay the bill right away, it is easy to overspend when you use a credit card. Only charge purchases when you can afford to repay the balance in full by the due date.
  6. For every potential purchase, question whether it is a want (nonessential) or a need (essential). Recognizing the difference between the two can help you avoid unnecessary spending and impulse shopping.
  7. Remember your goals. By sacrificing the things you don’t really need today, you can attain more meaningful financial objectives in the future.

Avoiding these budget busters can help you save a little more each month. Before you know it you’ll be reaching your financial goals and instinctively make better budget choices.

If you have any questions about building a budget or if we can help you in any way, please contact Member Services at (804) 323-6800 or (800) 285-6609.