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SALT LAKE CITY -- When we finally get a budget plan together, we promise ourselves we'll stick with it, no matter what. But something -- whether it is a sale, or we wanted to go out to eat, or we simply got tired of not spending money the way we're used to -- knocks us off the path. Financial counselors say there are some ways you can build up your stamina against frugal fatigue.
Reward yourself
Think of it like a diet. If you ate only veggies, along with low-calorie and low-fat meals, you may lose interest. It's the same with budgeting.
AAA Fair Credit Foundation Counseling and Education Director Will VanderToolen said, "They have to reward themselves throughout the week or throughout the month or throughout their savings plan. It can't just be a splurge on the weekend."
VanderToolen says these rewards have to be carefully planned. Plus, it would be beneficial if they were related to the main thing you were saving for.
"If they're saving for a vacation and they're going to head to a sunny place, maybe they need to buy themselves a new pair of sunglasses at the end of month two, if they've maintained their savings goal. They have to find a way to reward themselves," VanderToolen said.
Tell everyone
We love getting invitations to go out to eat with our friends or to plan a vacation with our cousins. But these invitations can be big temptations to break our budget. VanderToolen says everyone should know if you're trying to pinch your pennies.
"Beyond your own family and your own household, you might want to talk to extended family and friends and let them know what your financial goals are."
Don't let emergency expenses get you down
Let's say you've been doing great in sticking to your financial plan. But out of nowhere, some catastrophic event comes up, like your car catching on fire. (I only use that example because my car actually did go up in flames on Monday.)
All of the money you were saving for something else now has to go to repairing your car or putting money down on a new car. It can be really easy to let that frustration convince you to give up. But VanderToolen says you need to think about it in a different way.
"The savings that you have been adding into that savings account each month actually went to something good. It did exactly what you wanted it to. It helped pay for that emergency expense."
E-mail: pnelson@ksl.com
