At the end of the period, compare your budget with actual spending and you will most likely find that there are some expenses above and others below what you initially projected; This is normal and serves as the basis for readjusting the budget for the next period. Don’t be afraid to review your budget multiple times to make it fit reality with achievable goals.
The recommendation when budgeting is to be disciplined but flexible. A budget is just an estimate of income and expenses. That is why you do not have to do very “tight” accounts that are difficult to fulfill. The key is to be realistic and keep in mind that your budget should be adjusted regularly to reflect major changes, such as a job change.
You also have to be careful not to make mistakes that are made frequently, such as overestimating income or not including unforeseen and occasional expenses; for example, Christmas gifts, home repairs, or a visit to the dentist.
