Here are some practical tips that can help you stick to your budget:
1. Have a fixed sum automatically drawn out of your bank account after every payday and put directly into a separate account which is otherwise left untouched.
2. Have a "zero-day" once a week where you spend as little as possible: take a sandwich to work, drink water instead of coffee, do without that magazine. You will be surprised that, over time, seemingly insignificant savings can add up to a sizeable amount, and quite quickly too.
3. Keep track of your progress to see whether your actual spending is in line with what you have budgeted. If you find that you really can't avoid overspending in one area, you may have to adjust the amount you've allocated for that area and you may have to trim from another area in order to compensate.
Click here to see how to create a budget.
Any advice is general advice only and was prepared without taking into account your objectives, financial situation, or needs. Before acting on this advice you should consider if it's appropriate for your circumstances. Further information and our dispute resolution process is available at www.citibank.com.au or by phone on 1300 137 931.