• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Home Organization
    • Home Management
    • Personal Finance
  • Family
    • Holidays
    • Parenting
  • Travel
    • Cruises
    • Flying
    • Packing
  • About
    • Contact
    • Privacy Policy
  • Resource Library
    • Get Password
    • Enter the Library

Detailed Wife Organized Life

Realistic Ways to Manage Your Home and Life

You are here: Home / Home Organization / Personal Finance / The 3 Biggest Budget Busters and How to Fix Them

November 7, 2018 Beth Baker

The 3 Biggest Budget Busters and How to Fix Them

6 shares
  • Share
  • Tweet
How to Fix Your 3 Biggest Budget Busters

Many people avoid budgeting like the plague. This is because the numbers can be pretty eye opening and frightening. The numbers also don’t lie and your budget will often blow up if you don’t have control of it. Budgeting may seem scary, but it doesn’t have to be. Here are the 3 biggest budget busters you will encounter in your finances and how to fix them.

How to Fix Your 3 Biggest Budget Busters

Unrealistic Budgeting

For the longest time I under budgeted for groceries and we went over in this category all the time. I had completely unrealistic ideas of what we actually spent on groceries. This has to be one of the biggest budget busters for most people. Another area where you can consistently set an unrealistic budget is for eating out.

So how do you fix this? Start saving all your receipts for a month for when you eat out or buy groceries. At the end of the month total them up to see what you spent. At this point, you will need to decide if you will be finding a way to cut your spending or find other areas in your budget to cut to make up the difference. Want to find out what the average family spends on groceries every month to see where you stack up?  The average cost of a moderate meal plan for a family of four is $1057.10 a month for 2 adults and 2 kids age 6 and up! That is not a typo! No wonder people constantly blow this budget item.

Another great way to cut spending in areas that you go over in is to use coupons and shop sales. You can also make money while you shop to help put extra money in your budget.

Also check out these great coupon sites to help you get started saving hundreds of dollars each year as you shop!

krogerkrazy.com

passionatepennypincher.com

pennyhoarder.com

krazycouponlady.com

retailmenot.com

Unexpected Expenses

Have you ever noticed that every time you start to get a handle on your budget that some unexpected expense comes along that completely derails your budget? It pretty much happens every time you have a few dollars in the bank right? The car needs a repair, your kid needs a big item for school or inevitably something big breaks in your house. This is why you have to find a way to plan in your budget for items that you don’t expect because they happen whether you want them to or not.

So how do you fix this? Well, first of all you have to acknowledge that many of these expense are not really that unexpected. You know eventually your appliances will break down, you know that the car will need brakes, batteries, and tires, and you know that nothing lasts forever. So what you need to do is set aside small amounts in your budget for these items each these types of expenses. Along with that you need to have an emergency fund of at least $1000.

Not sure how to start putting together your emergency fund or budget? Check out these books.

As an Amazon Associate I earn from qualifying purchases. This post contains affiliate links. Click here to see my full disclosure.

The Total Money Makeover Book

How to Manage Your Money When You Don't Have Any

You Need a Budget Boook

Unbalanced Budget

What does it mean to have an unbalanced budget? This means that you spend far more money in a budget category than is recommended. One of the major categories that people typically overspend in is housing or transportation. Most good financial advisors will recommend that you only spend about 25% of your monthly income on housing. Now this does vary depending on the area of the country that you live in, but the general rule is 25%. If you are spending way more in that category it means you have less money to spend on everything else. This is true for most of your budget categories.

So how do you fix it? Well there is not always an easy fix for bigger expenses like housing or transportation. If you are renting, you could always move to a less expensive area or move further away from your job. If you live in a really expensive area and you own your home you could consider changing jobs and moving to a less expensive area of the country. If you are driving a car that is not really affordable you can look to sell it or end the lease and get a less expensive used vehicle.

It can be scary to actually acknowledge the problems in your budget and even more difficult to fix them. With a little practice, time and patience you can get control of the 3 biggest obstacles in your budget!

Are the holidays going to throw a wrench in your budget? Here’s how to start fresh in 2019 and avoid the yearly holiday financial hangover!

Share this:

  • Tweet
  • Print
  • Email

Filed Under: Personal Finance

Reader Interactions

How To Make Money While You Shop For The Holidays
Packing Checklist for Cold Weather Travel

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Meet Beth!
I love the Container Store, saving money, making memories and being a mom. Not necessarily in that order. Read More

Let’s Connect

  • Facebook
  • Pinterest

Search

4 Quick Ways to Control Clutter

Kid's Birthday Party Checklist

Copyright Policy

I love when you share my site! Please be mindful that all images and text on this site are property of Detailed Wife Organized Life. You may use one or two photos provided that a link back to my original post is included. Please do not remove any watermarks, crop, or edit any of my images without first obtaining written permission from me. Pinning is always welcome and appreciated! Thank you!
  • Home
  • Contact
  • Resource Library

© 2015 Pretty Happy WordPress Theme · By: Pretty Darn Cute Design

6 shares
 

Loading Comments...