For the first time in decades, “Keeping up with the Joneses” means learning to live with, and enjoy living with, less. “Budget” is no longer that word you’d rather not think about, somewhere on your to-do list right below dieting. Instead, it has become a common topic of conversation on the street. The constant news of layoffs and pay cuts over the last year, coupled with the worst recession and stock decline since the Great Depression, has everyone slimming down their spending.

The Sad News: According to the National Foundation of Credit Counseling’s 2009 Financial Literacy Survey, “45% of adults now spending less than they were a year ago say that if their financial situation were to improve over the next year, they would go back to their old spending habits.”

So the question now becomes, how can we keep our own personal budget from becoming a short-term fad? Here are just a few easy ideas to keep your budget styling:

Create a Savings to Spend Account for the “I will have to buy a car in 2 years and replace the TV” or “I wish I could go on a trip to Australia someday.” There will always be big future expenses in our lives – both needs and wants – and the key is to plan for them. First, determine a realistic figure of how much you will need to spend and when you’ll need to spend it. Then divide that amount out over the paychecks you will receive between now and the time you configured. Have this amount automatically sent to a high-yield savings account by speaking with your payroll department to set up multiple direct deposits (the portion you want to save to your savings account and the remainder to your checking account). This strategy works much like a retirement plan contribution made directly from each of your paychecks. Also like your retirement plan contributions, you will find yourself never noticing the money is gone. Just a note: if one of your Savings to Spend goals is long-term talk with your advisor about investment vehicles that have the ability to outpace inflation.

Use Plastic. One of the most cringing thoughts about maintaining a budget is keeping up with every receipt and bill and then of course organizing this mess. Luckily, there is a solution, and it is brought to you by MasterCard, Visa, Discover or American Express. Use your card for every expenditure and let the company keep up with your receipts. Trust me, it is a lot easier to organize your budget each month with an itemized list on 1, 2 or 3 pieces of paper than 100 loose receipts. Plus, you can take advantage of a rewards program from one of these major carriers. Just think, you now have cash back to pay for Christmas presents or points to pay for that trip to Hawaii. The trick is you can’t go crazy and you have to be disciplined. Spend less than you make and pay your balance off in its entirety each month to avoid compounding finance charges. (Please note credit cards may not be the answer to every situation. They may contain high fee and other negative that should be read in the fine print and considered.)

Play the Family Spending Game. If your family is anything like my family, a little competition is the #1 motivator. So, how does it work? Everything comes on sale, has a level of quality and ultimately a true cost. Every time your family is looking to make a major purchase, go on a shopping spree, take a vacation, etc., play the game. Give a time frame and see who can find the cheapest, the biggest bang for the buck, and/or the greatest long-term money saver.

It’s human nature to want the biggest, best and brightest. At the same time, most of us want to retire early and maintain the biggest, best and brightest lifestyle. Now is a great opportunity for all of us to rethink how we live and how we want our future to play out. Think about this way: Could you? Would you? When? Could you create and maintain a budget? Would you do it? If so, When would be the best time to start? You are probably thinking. Of course I could. I might do it, but I am going to procrastinate and ultimately won’t. So, what about this? Could you create a Savings to Spend Account, track what you spend on your credit cards and play a family game?  Would you? If so, When? You might find it a little easier to budget with added incentives along the way.

For some of us, it might take a major overhaul of our lifestyle to spend less than we make and save for that bright future. If this is you, you might consider talking with your Life Planner about a budget boot camp. For others, it might just mean a few adjustments and reevaluation of where our dollars are being spent each month. Whatever the case, remember today is the first day of the rest of your Life and you get to decide your future.