Common Budget Mistakes (And How to Avoid Them)

1. Unrealistic budget — Setting limits too tight that you'll never meet

2. Forgetting seasonal expenses — Car registration, property tax, Christmas gifts, school enrollment

3. No emergency fund — Any unexpected event destroys the budget

4. Ignoring small expenses — $10 here, $15 there = hundreds per month

5. Not including leisure — A budget without pleasure = a budget you'll abandon

6. Copying someone else's budget — Every family has different expenses

7. Not reviewing monthly — Circumstances change, budget should too

8. Forgetting debts — Installments and interest need to be in the budget

9. Budgeting gross income — Always use net income (after taxes)

10. Giving up too soon — Takes 3 months to calibrate. Persist!