Making budget is easy, but sticking to it is hard. But enjoying with discipline, having your control over money, you can ace it with ease.

Do you feel that making a budget is hard or even if you make it; the budget goes off track, it feels difficult to find a way back.

1. Firstly, make your budget your rule.

The internet is full of thumb rules like 50:30:20 rule which tells to save 20% OR 30% of your income and many such rules. But at the end you would know your situation better than anybody else, weather you should save 30%, 50% or 70%. Each person should reflect their own budget. These can serve your starting point for you to plan your finances. Allow and be open for changes as your income grows yearly.

2.Identify and bust the balloon.

Having 4 regular meals a day is essential to survive right, but dinning out is not, right?  That is the difference between need and want. We need to take both into the account. Make a separate provision for both the priorities. You don’t realise it; but a small subscription can chuck out a huge pocket.

The regular swiggy, zomato orders brings taste to your tongue but eat away your income through formation of your habits by ordering again and again and adds up to your medical cost later on.

Plan separately – your vacations and purchases which beyond a certain limit, so that you don’t overshoot the budget.

3.Let your budget breath free!

Do not treat your budget a fixed rock. You have to treat it like a recipe. Some things you will add, some things you will subtract. You go through different stages of life, your income and life goals should guild you’re saving and expenses.

As your income grows, your lifestyle also increases. Your Necessities will increase if planning for a child. That might have a decrease in your saving and investment. Adjust and adapt to circumstances, and plan to retain the spends when the situation permits.

4.Tracking is the key.

When the budget is prepared, monitor and track your progress. A periodic review will enhance the plan. This will give you insights what is working for you and what not. Plus, this gives you immense ownership to take charge of your own money.

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