When the Treasury Secretary or Finance Minister of country gives a budget statement, there are always winners and losers all across the nation. In a personal/family budget, there are also winners and losers.
Before i go into that, please allow me to present to you some reasons for the need to create a budget in the first place.
- A budget takes the guess-work away from your monthly spending
- It eliminates the stress and worry associated with your bills – since you now know what is going out and what’s coming in
- With careful adjustment, a budget can keep you from living paycheque to paycheque
- The budget can help you eliminate further debt and begin saving for a brighter future
By the way, if the word ‘Budget’ spells scarcity, depravation, austerity or even starvation for you, change it to “Spending Plan” like i do. At least a plan indicates progressing towards something.
In a family budget, the winner is YOU – in the form of a brighter financial future for you and your family where you have the money you need to enjoy a peaceful life and have even more to help others with.
The loser, on the other hand, is your childish SELF that lives for the NOW and wants everything NOW. The SELF that spend the money you don’t have to buy things you don’t need so you can impress the people you don’t like.
“If you do the things you OUGHT to do when you OUGHT to do them, the time will come when you can do the thing you WANT to do when you WANT to do them” – Zig Ziglar
One of the first financial steps you need to take is creating a budget.
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