The Truth About Budgeting
Myth: I don't have time to work on a budget.
Truth: You don't have time not to make a budget!
The dreaded "B" word. Budget. The only other word that starts with "B" that might generate a worse reaction in most people is the word bankruptcy.
Unfortunately, the word budget has gotten a bum rap – it is basically just a PLAN. When you budget, you're spending on paper, on purpose, before the month begins. But many people view a budget as a straight jacket that keeps them constrained. Freedom and budget just don't seem to go together.
However, when you see that a budget is just spending your money with intention, you'll actually experience more freedom than before. Many people say they've found even more money when they created a realistic budget and stuck with it.
Here are some pointers:
Give it three to four months to start working. It won't be perfect the first time you do it.
Spend every dime on paper before the month begins.
Over-fund your groceries category. Most people underfund that category.
Husbands (if applicable) need to loosen up and quit using the budget as a whipping tool on their wives.
If married, spouses need to do the budget together. The preacher said "... and you are ONE."
When you are spending your money on purpose, you will be on your way to a Total Money Makeover. You will be on the road to changing your family tree forever!
Amen, sister! Budgets are actually waaay fun!
ReplyDeleteThe tricky part is setting up a system to keep the budget updated so you can see where you are with your budget at any moment in time.
My husband and I have been using the program "You Need a Budget" (also known as YNAB) and we like it so far. I recommend it.