We've all heard it...Give up your lattes. Cut up your credit cards. Save 12% of your income. These are the types of tips and tricks to get you on a path to good financial health, right? But not many of these "easy" suggestions seem to be really effective for most people. Why do you think that is?
Well, it’s like saying you’re going to lose 20 pounds, but the way you’re going to do that is to cold-turkey cut out sugar, dairy, gluten, and all other comfort foods. Yes. You’ll probably lose 20 pounds pretty quickly, but is it the most livable and sustainable way to do it? Probably not (unless you’ve just got a super-human level of self-discipline). Most of us need to start slow and just work on developing consistent, healthy habits.
The same thing goes for your financial health. You could go crazy and give up everything you love in order to meet your savings goal, but you probably won’t stick to it because you’ll feel deprived of the things that you love (like your Monday morning latte).
The key to budgeting success? Start slow. Find a simple, easy-for-YOU-to-follow trick to get started. Then, as you succeed and remain consistent, add in a few more good financial habits. The key is consistency and finding those small habits that work well for your individual goals and situation.
Not sure where to start? Our team at UB has chimed in with some of their best budgeting tips, tricks, and hacks to help you get started.