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4 Reasons Why Your Budget is Failing


If your budget is failing, that doesn’t mean you should give up! Simply rework the budget and identify where you are falling short. A budget that isn’t working can be more of a hinderance to your finances than an asset!

Here are a few reasons why your budget is failing- and how to fix it.


It’s Not Realistic

If you’re resorting to being overly restrictive as a means of budgeting, it was doomed from the start! Leaving no wiggle room doesn’t account for unexpected expenses or impulse purchases, which can make you feel too restricted.

The solution to this issue is to have restrictions, but still give yourself some room for fun or extra purchases. Your budgeting method should help you cut back, but that doesn’t mean give yourself the bare minimum of fun! This can actually lead to overspending, which can end up hurting your budget!


You Don’t Have Goals

It can be easier to keep your budget on track if you have goals. They can be your motivation to keep on track, just as any fitness or financial goal will. It’s much easier to have a specific goal in mind, rather than just to save money. If you took out a title loan recently, be sure to make your priority reasonable! Whether you took out your title loan in Los Angeles or Mississippi, your goal should be attainable and realistic. Some ideas to get you started for your own goal are:

  • Saving for a House
  • Paying Off A Debt or Bill Like a California Title Loan
  • Saving for a Car
  • Creating a Savings Account for a Rainy Dy or Recession
  • Saving for a New Baby or Wedding



Often, setting small milestone goals can be beneficial for motivation. Think of a small goal in comparison to your big goal. If your long-term goal is to pay off all of your debt, celebrate when you’ve paid off one credit card! Keeping those smaller milestones can work wonders for your motivation to keep going.


You’re Not Keeping It with You

Where most people fail during their budget is keeping it consistent. To do this, it can be beneficial to keep it with you at all times! Whether that be with a physical ledger or a budgeting app on your phone, keeping your budget with you ensures you are staying on top of your purchases. Additionally, it can be helpful to record all your purchases as soon as they happen, especially if cash is used. This way, you can keep yourself accountable throughout the week, and potentially make fewer impulse purchases.


You Aren’t Changing It

As you meet your goals and evolve financially, your budget should be evaluated. Every 3 to 6 months, you should be evaluating your budget. Have your goals been met? Go through your financial records and see where things are working, and where you can cut back. IF you are overspending in one category, it may be time to shift around your priorities. For example, if you are consistently overspending in your eating out/entertainment category, consider bringing your lunch to work, or limiting yourself to eating out once a week.


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