Most people do not like the idea of making a budget. They don’t like the idea of formulating personal budgeting strategies. Some think budgeting is still useless, constraining, and just a load of garbage.
They never keep track of their income and expenses, and just as long as they can pay their expenditures and survive their everyday lives, that would be enough. It’s a “feel good” way of managing finances, but it just won’t work.
It’s better to have a budget if for no other reason than to see where your cash is going. If you are not controlling your finances, you are heading for financial “pain.”
You are not alone. Millions of people are also experiencing difficulty managing money, and you’re not Robinson Crusoe.
There are various personal budgeting strategies you can do to make things right.
In budgeting, you don’t have to change your lifestyle dramatically. The common notion people assume in connection with budgets is the thought of not having fun at all. They think a budget is there to stop them from enjoying life.
Don’t believe any of those- that’s plain rubbish. Personal budgeting will not make your life miserable but put you back in control.
Of course, you will make certain sacrifices. You will pick out personal budgeting strategies appropriate to your situation because it’s your budget, you own it, you control it. But, in the end, being in control will reap its rewards.
Most people suffer from the financial crisis because of excessive spending and lots of debts. The biggest problem is credit cards, not so much the card itself but the use and lack of control over our spending it gives. If you have one, and I’ve no doubt you do, make sure you keep a copy of your monthly transactions from your credit card company.
You can check the statement regarding your purchases for a given month and see where your money is going. One of the personal budgeting strategies you can employ is to write the word “DEBT” on your card, so every time you use it, this will be a reminder you are going further into debt. Remember, you are borrowing money and, you are paying interest possibly on a “WANT” rather than a “NEED.”
In creating your budget, expenses should not exceed your income, pretty straightforward, but how many of us spend more than we earn? Personal budgeting strategies also teach you the value of savings.
Look, having a savings component in your budget is an essential part of your budget.
Talk to your Finance Planner about setting up an online Savings account.
You are making a budget to control your finances, including setting up a savings account.
Look, it’s not hard to implement personal budgeting strategies. If you think you can’t do it,
you’re wrong. It’s a matter of self-discipline and determination.
Having the discipline and determination to do it is the key. That’s where the “I hate budgets” program comes into play. It will assist
And guide you and provide the backup and motivation to put you in control of your finances.
If you want to have control over your finances, “JUST DO IT.”