Summer is a time of spending, from vacations to buying back-to-school clothes and supplies. As life returns to a routine, it’s a great time to give your finances and check-up and set up a budget.
That means getting motivated to budget. David Sant from Cyprus Credit Union offers five tips to get motivated to budget.
- Reshape how you view the budget. Budgets aren’t restrictive, they are empowering. It is not about what you can’t do, they’re about what you are going to be able to do (live debt free, pay for school/ weddings, retire early and comfortably.
- Surround yourself with reminders. Print pictures of your goal and place it where you make impulse buys. Try it as your computer wallpaper, or put a reminder in your car.
- Involve others. Share your budget goals with your friends and family. They will help hold you accountable. Get your kids involved a well. You can teach them about budgeting and they will keep you focused.
- Reward yourself. For instance… give yourself a $50 Amazon gift card when you save $500, $50 for $7350 and $100 for $1,000.
- Make it a habit. Set up automatic transfers and you won’t even need to think about saving.
For more budget help please visit: cypruscu.com