Learn to be realistic

"We can dream about all sorts of things," says Isabelle Thibault, "but often, we want so much that we end up with nothing. However, if you define a single dream, turn it into an objective and make your choices accordingly, you will achieve it one day, and within a set period of time."

Meeting an objective is a powerful source of motivation when you plan a budget. You could put money aside for a summer vacation, or a trip abroad in a year or two, or even to pay your debts once and for all.

The clearer the objective, the easier it will be to meet. How much do you need to save? When will you be able to implement this project? How far are you willing to go to attain it? However, as this exercise progresses, you may realize that this dream is not really a priority. The most important thing is to first understand what is happening with your money so you can regain control of your personal finances.