6 Ways Planning Can Help You Stick to Your Budget


Planning is important in nearly all areas of life- from personal and family relationships to work projects to daily finances. There are a variety of different ways that you can plan out your day to day responsibilities including planning and journaling apps, paper notebooks, dry erase boards, alarms, and computer spreadsheets. If you are trying to stick to a budget, then it is a good idea to implement some financial planning techniques into your life. Here are 6 different ways that planning can help you stick to your budget, even if it is a tight one:

  1. Planning Encourages Accountability

If you are considering an irresponsible splurge purchase, it can be a good idea to look back at your financial strategy plan. After looking at your plan, you may be inspired to save that money instead. If you do not have a plan that you can refer back to, it can be easy to succumb to temptation and overspend.

  1. Planning Helps You Stay Goal Oriented

If you have a goal, financial or otherwise, it is smart to write that goal down. Then, you can come up with a step by step plan that will help you to achieve that goal. For example, you may want to buy a new motorcycle. In order to achieve this goal, you can budget to spend $50 less a week and instead put that money into a savings account. A strong weekly plan will help you to stay focused on that long term purchase goal.

  1. Planning Makes Decision Making Simpler

If you struggle with spending decisions, then it can be a good idea to plan out your spending in advance. For example, if you are easily tempted at the grocery store, you may want to write out grocery lists and budgets. If you are at the store trying to decide whether to buy an item or not, you can consult the plan for guidance.

  1. A Plan Can Help You Stay Focused

Life is multifaceted, complicated, and hard to navigate at times. You may have dozens of goals related to school, relationships, exercise, eating habits, work, and life. It can be difficult to stay focused on goals when you have a multitude of them, but a plan makes it easier to do.

  1. Planning Helps You Identify Problems Before They Grow

Sometimes, things do not go perfectly according to plan. When you have a plan, you can take note quickly when things start to go in a direction that was not part of the plan. Then, you can redirect before things get out of control.

  1. Planning Involves Good Backup Plans Too

Any good plan involves at least a few good backup plans as well. When designing a plan to help you stick to a budget, be sure to come up with some alternate and backup plans as well. These can be helpful if you have a health emergency or if you decide to make a large purchase later on down the road.