You’ve learned how to set SMART goals and create a bulletproof budget, now the hard part begins. Sticking to said budget. 

It’s easy to underestimate how much we’re spending – particularly when we’re paying by tap and go. But once you’ve worked out a budget and how you’re going to put away a little bit extra, you need to stick to it in order to make it happen. We’ve got five tips to help you stay on track.

5 Tips To Help You Stick To Your Budget


1. Start small

Similar to dieting saving isn’t a fad, it’s a lifestyle change so start small. See if you can eat out one time less a week or walk instead of catch the bus. The closer your budget is to reality, the more likely you are to stick to it.

2. Set up a different bank account

Get confused whether you can spend the money in your account or not? The easiest thing to do is to set up a high interest savings account. There are a number of high interest savings accounts that don’t come with debit cards to make it harder for you to get your money (and easier for your to save). Some even offer higher interest rates if you don’t make a withdrawal.

3. Use your autopilot

Direct debits are not just for gym memberships and Netflix. They can also be a really helpful tool in sticking to a budget. If you do set up a high interest savings account, set up a direct debit on pay day to move your savings into it straight away. This reduces the risk of you forgetting to save it or, even worse, spending it.

4. Use cash

According to studies, we actually feel physiological pain when we pay with cash but not when we pay with credit. When we pay we credit we put distance between our purchase and the pain of paying for it. If you’re trying to spend less, try withdrawing your cash for the week in one hit and paying for everyone in cash. It will also be a visual reminder as it starts to run out.

5. Track your progress

Reminders of how you’re going against your plan are excellent motivators. At the end of each week or month look back at how you’ve tracked. Congratulate yourself if you’ve been able to stay on track and celebrate how much closer you are to your savings goal.

If you did come off track, don’t panic. Use it as a time to reflect why you came off track and what can you do differently to ensure it doesn’t happen again next time. The more you self-reflect and are aware of what causes your blowouts, the less likely they are to happen next time.


Connect with one of our financial experts to learn how you can get the most out of your money 


Any references to financial products or services or any financial information contained on this site are provided by Employment Hero Financial Services Pty Ltd (“EHFS”) ABN 58 606 879 663, AFSRN 001234046, CRN 479495. EHFS is an authorised representative of Ballast Financial Management Pty Ltd ABN 41 086 601 041, AFSL Number 233 180 and an authorised credit representative of Loan Market Pty Ltd ABN 83 105 221 967, ACL Number 390222. Any advice on this website is general advice only and does not take into account your particular circumstances, objectives and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your financial situation, need and objectives. A Product Disclosure Statement (PDS) or other disclosure document may be available for products and services described on this website. You should obtain and consider the PDS or other disclosure document relating to the product or service you are interested in before making any decision about whether to acquire or continue to hold the product or service.