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7 Tips To Stay Within Your Budget And Avoid Going Broke—Again

Time for some real money talk, CG.
June 25, 2018
SPONSORED BY Citi credit cards
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There's no getting around the word "budgeting." It sounds serious and very adult, and you try to not think about it especially when it comes to end-of-season sales or airfare promos. You think, "What budget?" whenever you see something you want.

TBH, budgeting is definitely something you need to consider if you feel financially limited. It's similar to going on a diet: No one really enjoys it at first, but it provides the structure for what we have to do to get the results we want. It's easy to have goals, but the first step of getting into the results-oriented mindset is more challenging.

But once you start to get the hang of budgeting, you become more responsible in the way you spend, and you even get creative with how far you can stretch out your budget. It always sounds impossible at first until you actually do it. Here are some tips to get you started, so you can save up for those next big purchases:

  1. Define your goals. Write them down. Post them up. Look at them often. It doesn’t matter if your list includes going on your next vacation, having a designer brand staple, or owning a high-end lippie collection. If it’s something you’ve always dreamed of having, write it down.
  2. Add a number to those goals. You’ve written them down in words, now add the price of each goal. Translate the purchases and milestones into a targeted sum, so you know exactly how much you need to literally make your dream come true.
  3. Understand how you spend and save. It’s important to be honest with yourself when you review your spending and saving habits. To do this, consider keeping a record of your purchases, big or small. Keeping track of all your transactions is as tedious as it is crucial, and downloading a financial management app to manage your purchases can help you spot spending patterns. This can also help you identify trigger points for when you use your money so you can make better financial decisions for your next purchase.
  4. Celebrate your budgeting success. Remember that it’s totally okay to treat yourself, but only when you reach certain achievements. Along with those goals you’ve listed down, you can also line up rewards for yourself for an added morale boost.
  5. Know that accidents happen. Sometimes, we just can’t help having impulse purchases—it happens even to the most financially responsible person you know. Don’t beat yourself up for it. The best thing you can do is to learn from the experience, so you can avoid having the same alibi when a similar urge arises in the future.   

Even when you get the hang of budgeting your money, small oversights still happen. If you accidentally go over your credit limit, Citibank understands. That's why they don’t charge you for it. They help you stay on track and keep things simple. Or better yet, Citibank can help you earn rebates on your utility bills, grocery purchases, and more with the Citi Cash Back Card.

Follow Citibank on Facebook and find out more about Citibank Credit Cards here.

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