Budgetary Discipline

Once you have your budget set for the month, you will need to track your spending and stop when you have reached the limit in each category. Put money aside weekly according to the grocery budget and simply stick with it. When you stop spending, that's called sticking to your budget.

If you end up spending more in one category than you had planned, you can transfer money into that category to cover it from another category. For example, if you budgeted R4000 for food for one month and you ended up spending R4500, then you can move R500 from another category to cover it. To do this, you will need to check your spending before making purchases to see how much you have left.

After you have completed your first month of budgeting, it will be easier to plan for the next month. Look at how you spend and adjust for categories in which you spend more than you planned and cut back on the categories that had additional funds in them.

You should also look ahead to large expenses coming up, such as insurance premiums that are only due every few months or upcoming holiday expenses. Plan for these larger expenses as you set your budget for the next month.

Budgeting requires discipline not to overstretch your financial limits. Planning your budget carefully and sticking to it are essential. This discipline should eventually become a way of life. However, the plan is only a guideline. One must be disciplined enough to be able to deviate from the plan and to revise it if, for some reason one’s circumstances change.

Budgeting requires self-control. Stick with the process for a few months and budgeting will become a habit that will lead to greater financial security. It will take time in the beginning, but once you have a feeling for how you spend your money, budgeting becomes second nature.

Imagine the satisfaction you will experience one day, when your children naturally follow your example, because you had the self-discipline to plan and execute a budget and taught them the only way to financial control!