Successful Budgeting & Financial Planning for the New Year | The Department of Financial Protection and Innovation

Take it slow and steady

The most common reasons people stop budgeting are that they tried to reach their financial goals too quickly or saved too much. The pent-up desperation of not reaching unrealistic financial goals is stressful and often results in giving up on your budget entirely. Make sure you review your budget every week and update it every month. Every month is different, so be prepared to be flexible in case your financial situation changes, such as losing your job or a rent increase, or if unexpected expenses arise, such as a medical emergency or an expensive car repair.

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