I'm trying to get out of debt and all the advice I'm getting seems to be the same "set up a budget and stick to it." Unfortunately that's my biggest problem. I don't have any trouble setting up a budget, but I can never stick with it. Anybody else have that problem or have some helpful advice?
Budgets are often like diets, they are hard to stick with and they seldom work. Many people who try to use a budget to control their spending eventually end up going on a binge which defeats all the hard work they put in. It's a lot like dieting, you give up the chocolate cake for so long you eventually eat an entire one out of frustration. If budgeting isn't working for you, try substituting something more positive. One suggestion would be developing a spending plan, or an investing plan. Although they may have similar characteristics as a budget the difference is in your viewpoint. Instead of the sacrifice associated with a budget, a spending plan allows you to spend money on the things you want. You get to decide where and how much you want to spend in each category. The difference may be subtle, but it can make a BIG difference in your success. If yu want to learn more about setting up a spending plan just email me at DebtDoctor@davethedebtdoctor.com