Budgeting sounds easy — until you’re a few days into the month and wondering where all your money went 😩
Here are some of the most common budgeting mistakes I see (and have made myself) — plus how to actually fix them.
❌ Mistake #1: Not Having a Budget at All
Even a simple weekly or monthly budget helps you stay in control.
✅ Fix: Use a budgeting app (like WeMoney) or a spreadsheet to track your income and expenses. Don’t overcomplicate it — just get started.
❌ Mistake #2: Guessing Instead of Tracking
You think you’re spending $50 on takeaway… but it’s actually $150.
✅ Fix: Track your spending for a full month. Use your bank app, WeMoney, or just jot it down. Reality checks = powerful.
❌ Mistake #3: Forgetting Irregular Expenses
Birthdays, car rego, Christmas, dentist visits — they always sneak up!
✅ Fix: Set up a “sinking fund” in your budget. Break big annual costs into monthly chunks so they’re not a shock when they arrive.
❌ Mistake #4: Not Paying Yourself First
Spending first, saving “what’s left” almost always means saving $0.
✅ Fix: Automate your savings at payday. Even $100/month adds up. Make it disappear into a high-interest savings account like Ubank.
❌ Mistake #5: Making It Too Strict
Trying to budget $0 for fun = instant failure.
✅ Fix: Include spending money (guilt-free!). The best budget is realistic — not perfect. Add a line for fun, coffee, or K-pop merch — seriously.
❌ Mistake #6: Ignoring Your Fixed Costs
Many people just accept rent, subscriptions, or bills as “unchangeable.”
✅ Fix: Review your fixed costs at least once a year. I broke down 5 costs you can cut in this post here ✂️
❌ Mistake #7: Budgeting Without Goals
A budget with no purpose won’t keep you motivated.
✅ Fix: Set one clear money goal. Saving for a house? Paying off debt? Buying your next designer bag? Make your budget work for something.
🧠 Bonus Tip: Want to See How I Budget?
I shared exactly how I organise my weekly budget in this post — including what categories I use and how I reset each week 📋
💵 My Favourite Budgeting App
I personally use WeMoney to keep track of my spending, linked accounts, and credit score — all in one app.
💰 Use my referral code LYWR5881 to get $5 free when you sign up!
⚠️ Quick Notes
This post includes affiliate links which help support this blog.
Always do your own research and check official sources before making financial decisions.
💭 Final Thoughts
Budgeting isn’t about being perfect — it’s about getting better every month.
Start simple, stay consistent, and don’t be afraid to tweak your system as your life changes.
See you in the next post,
— N
🪙 N’s Money Corner | Aussie Money Tips
