Saving money takes time, and it involves more than just a well-planned budget and discipline. Monthly obligations tend to fluctuate throughout the year, and unexpected expenses can quickly knock people off track. While most financial advice is forward-looking, it’s critical to look back at your plan and evaluate what worked and what didn’t. Keeping your budget fluid and constantly looking for areas of improvement will ensure you’re saving as efficiently as possible.

We’ll provide some tips for looking back at your budget and changing things that didn’t work going forward. Whether you’re just starting to save or nearing retirement, being able to analyze and fix your spending habits will quickly pay off.

Solidify Plans

To successfully evaluate your budget and savings plan, you’re going to need to have one first. If you’re not already, get in the habit of using zero-based budgeting and allocating a spot for every dollar you bring in each month.

Zero-based budgeting can help you cut back on impulse purchases and makes the evaluation process much more manageable. Keep detailed notes on what you’re buying and when, and plan ahead for seasonal or annual expenses. By keeping meticulous records of spending, you’ll be able to narrow down areas that could improve.

Focus on What You Can Control

Certain expenses, like rent or loan payments, are more or less set in stone, and you’ll need to make monthly payments regardless of circumstances. While these more significant expenses can be frustrating and undoubtedly limit your savings potential, there’s no real way to avoid them.

Instead of getting caught up in the shadow of debt, focus on improving the spending habits you can control yourself. This might mean lowering your food budget by dining out less or using coupon apps when shopping for groceries. Any extra savings from these sacrifices can be used to pay off debts faster, which will lower your monthly interest payments and help speed up the savings process.


As we mentioned earlier, a detailed plan and records of your monthly spending can help you stick to a budget. The easiest way to improve your spending is to compare your budgeted number to the actual expense.

If you’ve allocated 10% of your monthly income to utilities and find yourself spending 15% or more each month, you’ll know that’s an area that can be improved. Unpredictable weather often impacts utility budgets, but there are some simple ways to reduce costs without completely sacrificing comfort.

Food and entertainment are often the most prominent categories that cause people to spend over their budget, and it’s easy to leave off small purchases from record keeping. Stay dedicated to recording every purchase, and set goals to stay under your allotted budget. Every dollar you don’t spend can go directly to savings and reaching your goals.

Stay Open to Change

Creating the right budget will take time and plenty of experimentation. Staying flexible with your numbers will help you dial in the perfect plan for your spending habits. If you find yourself consistently under budget in one category and over in another, simply adjust your monthly allotment to remedy the problem. As long as everything adds up to 100%, you’re on the right track!

Good Habits

You shouldn’t wait for an overdraft or an emergency to evaluate your spending habits. Get in the habit of assessing your plan at least every six months. Doing a self-audit will help you spot misallocations while still accounting for emergency expenses and annual costs.

While it’s essential to retain a long-term focus when saving for your future, taking a moment to look back is invaluable. Without an honest evaluation of your spending versus your budget, you’ll never really know if your plan is working. Use these tips to help dial in your savings plan and secure your financial well-being.