Ian Mausner is a seasoned financial professional who worked with clients in money management for over thirty years. In that time, he helped people from all backgrounds take control of their bank accounts and find financial stability.
Among the most basic steps that a professional such as Ian Mausner might recommend that you take is budgeting. Though many people make budgets, few follow them. Tips like those below can help you break the pattern of ignoring your budget and start repairing your financial situation:
- Find a Tracker that Works.
Once you have the numbers for your budget, it’s easy to set it aside with good intentions and forget. A tracker that has your categories and limits will help you avoid this habit.
Whether you’d like a tracker on your phone, your tablet, your laptop or your notebook, do your research and find a system that works for you. Input your numbers and then, either daily or weekly, record what you’ve spent so that you can see what you have left.
- Be Strict.
When a category runs out, it’s easy to say “just this once” or “it’s only a few dollars” and keep spending. Unless it’s completely unavoidable, don’t allow it. Sure, it’ll be uncomfortable and you won’t like it, but if you’re strict with yourself, you’ll be less likely to over-spend the following month.
Sometimes the first, second and third drafts of your budget will be off. You’ll underspend in some categories and be forced to go over in others. If this happens, revise your budget as needed and try again.
If you’re having trouble with your budget, consider speaking with an experienced professional like Ian Oliver Mausner for assistance. Your advisor can give you the steps that you need to take your bank account into your own hands.
Also can read: Ian Mausner: How to Prepare to Invest