July tends to be an expensive month for me; I have 4 close friends birthdays within the month, and each of them set plans for their own extravagant party.
One may want to go away with his friends for the weekend, while the other wants to go to a nice restaurant. In the end, you will have great memories, but a very empty wallet.
What I find myself doing in preparation for the month of extreme spending is cutting back in certain areas of my budget.
By doing this, I can take the hit of spending a lot of money that month, without going over my budget.
You may be wondering where would you take from your budget, when your budget maps out your entire spending. The answer is far easier than you may think.
You simply need to cut back on entertainment costs, and eating out costs. Once you do that you will find yourself having plenty of money to contribute to your entertainment costs in your expensive month.
I did just that, and even found myself spending less than I anticipated.
With a bit of preparation, you can accomplish even the most daunting of tasks. For those who may not do this, and end up going over budget, you need not fear.
You can make up for your overspending by adjusting your budget in the coming months to compensate.
This is one of the greatest parts of having a budget. You can easily set up where your money goes and know what you will be doing with it throughout the month.
Remember, a budget is only good once you carry it out. If you spend the time to create one, be sure to take the time to use it.