Over the next month, identify areas of your budget that need some special attention.Look for ways to decrease your spending with your utilities.
After 2 weeks, if you’ve managed to do it, give yourself a passing grade.
Consider what you learned about your spending habits by only using cash.
Your first assignment is to put all of your cards away for at least 2 weeks.
When you need to buy something, you’re only allowed to use cash.
This will tell you if you can stick it out for the long term.
If you can make having a budget part of your life, you’ll know that you’ve passed this assignment successfully!
Ironically, it’s also one of the things that you’ll likely never learn in a class at Cambridge or Harvard.
Not to pick on these universities though; most schools don’t teach students how to create a budget.
So to help with this lack of training, your third assignment is to outline your budget.
If you’ve never created a household budget that works, here is a personal budget workbook to get you started or you can try out this interactive budgeting resource that guides you through the whole process.