Budget! It’s Really A Great Word!
by
Connie david
Sit among a group of friends and associates and mention the word budget, and suddenly everyone has somewhere else to be. Usually no one wants to talk or think, about budgets, and certainly nobody wants to follow one. However, if you look at budgeting with open eyes it is actually a fantastic thing. Here are three reasons why “budget” may become your favorite word):
Reason #1: A budget puts you in control of your money instead of your money controlling you. On what did you spend your last $100? You may not remember. Maybe it was a pizza, or stickers for your children, maybe it went to
piano lessons or a new pair of boots. The point is, many people have no idea where their money goes. When you set, and follow, a realistic budget your cash is freed up so you can spend your money on things that are important to you and your family rather than spending it on purchases you won’t remember buying ten minutes later.
Reason #2: A budget can improve your relationships. Everyone knows that money is the biggest cause of stress in a marriage or relationship. Debt causes tremendous stress and so does the fear that you won’t be able to pay your bills. Not only is this stress hard on the family, but it can ruin your health. When you form a financial plan with your family, you work together as a team to reach your goals. The lines of communication are opened and the stress is eliminated because you have a plan and a team of support. Additionally, when you’re all on the same page financially there are no arguments about money, which makes better relationships with your spouse and your children.
Reason #3: Most people would agree that it is better to live within your means than to get into debt. However, some people don’t realize they’re living beyond their means until it is too late and the debt has become overwhelming – and stressful. A sound budget keeps you living within your means and prevents or eliminates debt. A structured and realistic budget prevents the “Oops I spent too much on my credit card this month” mistake that we often make month after month until we’re paying more on our minimum balance than on our mortgage. If this applies to you, don’t let it get to this point. Take advantage of the power of a budget and gain control over your financial life.
There is absolutely no downside to forming a budget and we’ve only scratched the surface of the benefits they provide. Take a few minutes to realistically analyze your spending habits, your income, and your financial goals. I promise you’ll be glad you did. I’ve even made it easy for you. You can download two budget sheets from my website. One is in Microsoft Word format, the other is in Excel. Feel free to add categories that reflect your family’s spending. the worksheets can be downloaded at www.itsstillyourmoney.com/Budget_Worksheet and www.itsstillyourmoney.com/budgetworksheet.xls
One more tip: print a copy to hang someplace where you will see it. working with it on your computer is great, but it won’t help you much of you can’t see it.
Good luck, and send any questions you have to info@itsstillyourmoney.com. For more information visit http://itsstillyourmoney.com
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