Don’t Try To Get By Without A Budget
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You may have heard it before but don’t try to get by without a budget because you will be setting yourself up for financial failure. It’s as simple as that.
Without a budget you can’t hope to have control over your finances. Most people usually find that once they start doing a budget they will recognise all the tiny but still additional expenditure they have in their lives that they hadn’t noticed in the past.
It is the little bits and pieces of expenditure that accumulate into a bigger debt problem. You don’t stumble on a mountain, it is the little stone you have to watch out for.
Creating a budget is one of the first things that you should do and using that budget daily will keep you on track to getting out of debt.
If someone were to ask you right now to write down exactly how much it costs you to live day to day, week to week, and month to month — could you do it?
If you are honest you would probably have to admit that it would take quite some time as you would have to look through your card statements, monthly bills, shopping lists and more to get a clear picture of what money you are spending. In addition to that you would need to look at any expenses that occur at irregular intervals either quarterly or once yearly.
You would also need to make allowances for additional spending during the festive seasons – cash no credit card spending allowed. If you don’t have the money to spend, then don’t spend it.
On top of that you would need to make allowances for maintenance on your vehicles and household installations and appliances.
The more you look into your expenditure the more that will be revealed and that is why a budget is so important. Most people get a big shock when they prepare a budget for the first time as they never realised how much money they spend on things that they don’t think about.
You must have a budget. There is no suitable alternative. You can’t run a business at its best without a budget and you can’t run a household without one either.
Niyi Adeoshun
Money Management Coach
About The Publisher
| Niyi Adeoshun – the Money Management Coach specialises in inspiring and motivating people to strive for a debt-free life in order to fulfil their life goals. Niyi is the author of “Milestones of Financial Freedom” – Simple steps for conquering debt and building wealth. |
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