How to make your budget fun in 5 simple steps:
1. Gamify it
Figure out ways to “level up” or beat your previous “score”.
If you saved $10 last week, can you save $11 this week?
Create little prizes for hitting certain levels, whether 4 weeks following the budget, hitting $100/500/1,000 in savings, starting to invest, etc.
2. Create colorful spreadsheets
Choose colors for each spending “bucket” (ie: savings, education, play, investing, giving, rent and utilities, auto, groceries, etc. Bonus points if you turn those colors into graphs so you can easily see where your money is going!
3. Create useful work pages
Print out your own customized workbook page where you can write down what you expect to have coming in and where you are going to spend it. Keep these pages in a binder so you can see how things have changed over time.
You can also create a nice little tear-off at the bottom of the page to give the bank teller for any cash you are withdrawing for the week. It will make it easier to allocate cash if you are using jars, envelopes, or piggy banks to break out your “bucket” accounts.
4. Use jars, envelopes, piggy banks, or separate savings accounts to easily watch your savings grow
Make sure you label each one “savings”, “play”, “investing”, “giving”, “education”, “dream vacation”, “house down payment”, or whatever other goal you are saving for.
5. Enjoy life- because deprivation is not sustainable
There is a reason why most successful diets incorporate treat meals. If all you do is scrimp and save and pay, you will burn out, fall off the wagon, and go on an all-out binging spree.
Your play money is meant to be enjoyed. Use it for impulse buys, little treats, spontaneous gifts, but use it (keeping in mind that when it is gone, it is gone).