You finally got to making a monthly budget, but somehow, you seem to be in the same financial situation you were in last month. Believe it or not, this is a common problem for many newcomers to budgeting. Luckily, just because your budgeting plan isn’t working now, that doesn’t mean you’re stuck to it. The first step to getting over your current financial hurdle is to consider the reasons your current budget isn’t working. From there, you can find the right ways to fix it and build a healthier financial future.

You Haven’t Accounted for Unexpected Expenses

When most people first plan for a budget, their biggest concern is their bills. As a result, they forget to factor in potential, unexpected expenses, such as home or car repairs, medical bills, or a death in the family. Coming across this situation can bring you back to zero. If you’re at a point where you’re in need of money but can’t afford it on your current budget, consider taking out low interest loans from a private lender, such as personal loans. With flexible repayment options, you can cover the current need and work on a repayment plan with a budget that fits you.

Your Budget is Unrealistic

Another common mistake people make with budgeting is creating an ideal budget rather than a realistic one. Though you’d love to save a certain percentage of money every month, can you realistically do it now? It’s good to always leave a little wiggle room for yourself, or else you end up setting yourself up for failure in the long run. Understand that your financial situation can change over time, eventually giving you the ability to save much more in the future. For now, only budget for the present and don’t put too much pressure on yourself on trying to achieve an unattainable goal.

You Haven’t Figured Out Your Spending Triggers

Most people will have spending triggers, or things they buy on an impulse, whether it’s food, clothes, or something else altogether. Perhaps you are strict with your grocery spending, but you find yourself splurging on clothes whenever you come across a clothing store. Figure out where you tend to overspend and come up with a plan to avoid this trigger. For instance, don’t go near areas where your favorite clothing store is. Try this for a month and see if your spending decreases as a result. If you are not sure what your spending triggers could be, print out your latest bank statement and go over all spending to see if you can spot a pattern.

You’ve Picked the Wrong Budgeting Method

Finally, it may just be that you aren’t picking a budgeting strategy that is working for you. If you want to get financially organized you must pick a method that best suits you personally, not just jump on some trend. Perhaps you’ve downloaded a budgeting app that promised high results, but you’re having trouble keeping up with it. Instead, you can stick to pen and paper, which may be much easier than trying to navigate new territory that causes even more stress and confusion.