Mistake _ Not Planning for Upcoming Expenses _ When you are creating a monthly budget it is always helpful to save a certain amount of money for a given category even if you don't have that expense for the given month. For example, let's say you pay your car insurance every six month. It is important to take your payment and divide it by six. Then, each month you will want to save that amount so you have the insurance payment when it comes due instead of trying to come up with the whole amount in one given month. If you can do this for as many periodic expenses as possible, it will be easier to have a balanced budget each month.
Next, you need to have a set of goals to work towards. There is no point is starting a budget worksheet unless you have a goal that you are striving to achieve. Without a goal sheet, any extra money you do save from your budget worksheet will have no real purpose and will be far easier to spend. Having a written set of goals helps to keep you on track. Last, you need a good budget worksheet that is simple and easy to use. Having a big fancy software is not going to help you succeed any faster. Besides, there is a learning curve to complex financial software, and using a simpler form will get you real results faster and easier, plus you can save any money you would have spent on the software! Having and using a budget worksheet can take you past the stage of wishing about having more money and actually making real progress towards your goals. Start today and guaranteed within a short time, you will be setting your path to success and feeling great about having met your goals.