Budgeting is one of those words like:
They all can have negative connotations when you hear them.
As I mentioned here,
Budgeting comes in all shapes and sizes.
One of the biggest factors to successfully getting out of debt,
Or accumulating savings is in what we tell ourselves.
If like dieting or exercising we tell ourselves all the "we can'ts",
Being thrifty will feel like a punishment instead of our key to freedom.
If on the other hand, it appears as a ticket to a better way of life,
it can become a fun, challenging way of looking at and bettering our circumstances.
$$ 1) Our financial solution is unique to each of us and our family.
That means we will need to know more about who we are
And about our spending habits and needs.
$$ 2) It has been said that we only change when we get sick of where we are at.
If we are worn down by always living paycheck to paycheck
(And in some cases, not even making that),
We want to have some money in savings,
Or if we are weary of debt dictating our peace of mind
then we may be ready to make some needed changes.
$$ 3) Know that these changes are not a punishment but a reward for all the hard work we do.
When we feel like we are just 'treading water' money-wise
We may get discouraged, feeling like we are in survival mode.
Fighting to survive can become overwhelming and we may want to give up.
If that happens we may surrender carelessly spending ourselves into debt oblivion,
Feel as if there is no hope of things changing,
Or become despondent and think that life itself no longer has value.
$$ 4) Self sufficiency does not depend only on how much money we make.
Many wealthy people are smothering in their financial 'plastics'.
What does matter is that we spend less than what we earn
And are able to begin saving.
$$ 5) We have to begin somewhere.
With the Holidays here, now may seem like the worst time of the year to start.
We each will have to decide.
I will say that if we curb our spending now, we will be that much more ahead starting the New Year.
When January comes, we will be glad we did things different now.
That will be a first step to positive change.
$$ 6) Overspending can be tied to emotional feelings.
This blog is not advise-fix for that.
That is professional territory.
For if we do not heal the void that spending is filling (be it temporary)
No matter how hard we want change, we will soon enough return to our old habits
Or ofttimes replace them with another vise.
$$ 7) And finally, another good thing that comes from making financial progress
is that we can not help but learn more about the person who has been living within us.
When we do, it frees us to make healthy adjustments
which pays back in returns; greater love and respect for self.
Thus greater self esteem.
Thus better decisions in the future.
I will try to touch in more detail on each of these basics in the future,
giving examples in each case if possible.
Disclaimer- This is my personal opinion and is not professional advise.
Debt, n. An ingenious substitute for the chain and whip of the slavedriver. ~Ambrose Bierce, The Devil's Dictionary, 1911