Tip _ Allow Yourself Some Mad Money _ The best tip you can have when creating a monthly budget is to allow some mad money for yourself and spouse in the budget. This is the number one reason most budgets fail and people do not continue using a monthly budget. The resentment of not being able to spend any money makes people frustrated and then they stop tracking their spending all together. If you allow yourself and your spouse even a small amount of money to be spent on anything you wish without having to confer with the other person, your budget will have a much better chance of being successful. If money is tight just allowing a very small amount will help keep the resentment at bay.
Imagine paying off all of your credit cards and being able to save that amount each and every month. Perhaps you are saving for a home and finding the process lengthy. While it is easy to get discouraged, by living within a budget you have a good chance of finding money for almost any need you have