Budget Budging - The Key To A Debt Free Life
There's one thing I must clear up before I begin this article. Your budget is not a source of restriction. You can construct the life you've always dreamt of with it.
It's possible that you don't like the term personal finance budgeting. Another term, personal finance planning, may also not be your cup of tea. I know I don't. Anything composed of more than 1 word has the capacity to overwhelm us.
Nevertheless, whether we do or don't like the term, it does not matter. What we must know is that we will benefit much more than if we were to completely disregard it.
Why is this true?
Because it us with important resources with which we can start to realistically create the life we all desire. Is there anyone who doesn't dream of debt-free lifestyle? You wouldn't be reading this sentence in this article right now if it wasn't the case.
So, how does one successfully build a life free of debt?
I will make this as least complicated as possible. Two simple words: Budget Budging. It's important that you never forget these 2 words because they will become a central part of your personal finance planning.
So what is budget budging?
It simply means that you take control of your budget rather than being controlled by it. The most important part of this is dictating your budget. If you are able to dictate your budget, then you can dictate your lifestyle. Simple as that.
It's important that you firstly come up with a budget that fits your needs and follow it. Record all the money you spend to the last, in whatever form it may be eg cash, cheque or credit card.
This is a great way to know for sure where all your money is going. It helps to find out what steps may be necessary to create a good and realistic budget for you. Nevertheless, it's important that it's a budget that allows you to live comfortably while eliminating your debt.
Eliminating waste should be the second thing you should do. You will soon discover, by evaluating all your expenses, that you are being wasteful with your money. It's important that you're ruthless during this process.
You might have to sacrifice some things. It can be helpful to think deeply about what you can really do without. Be honest with yourself. Don't hesitate to forego some luxuries that you don't really need.
The reason why people don't cut such waste is because they think short term. They think about the short term pain, not the long term gain.
As with many other things in life, personal finance budgeting will seem a bit complicated and difficult to manage at first, but after creating a great budget for yourself, you will soon realise that it was well worth doing.
Do you think that there's anything else that would make you happier than debt free life?
It's possible that you don't like the term personal finance budgeting. Another term, personal finance planning, may also not be your cup of tea. I know I don't. Anything composed of more than 1 word has the capacity to overwhelm us.
Nevertheless, whether we do or don't like the term, it does not matter. What we must know is that we will benefit much more than if we were to completely disregard it.
Why is this true?
Because it us with important resources with which we can start to realistically create the life we all desire. Is there anyone who doesn't dream of debt-free lifestyle? You wouldn't be reading this sentence in this article right now if it wasn't the case.
So, how does one successfully build a life free of debt?
I will make this as least complicated as possible. Two simple words: Budget Budging. It's important that you never forget these 2 words because they will become a central part of your personal finance planning.
So what is budget budging?
It simply means that you take control of your budget rather than being controlled by it. The most important part of this is dictating your budget. If you are able to dictate your budget, then you can dictate your lifestyle. Simple as that.
It's important that you firstly come up with a budget that fits your needs and follow it. Record all the money you spend to the last, in whatever form it may be eg cash, cheque or credit card.
This is a great way to know for sure where all your money is going. It helps to find out what steps may be necessary to create a good and realistic budget for you. Nevertheless, it's important that it's a budget that allows you to live comfortably while eliminating your debt.
Eliminating waste should be the second thing you should do. You will soon discover, by evaluating all your expenses, that you are being wasteful with your money. It's important that you're ruthless during this process.
You might have to sacrifice some things. It can be helpful to think deeply about what you can really do without. Be honest with yourself. Don't hesitate to forego some luxuries that you don't really need.
The reason why people don't cut such waste is because they think short term. They think about the short term pain, not the long term gain.
As with many other things in life, personal finance budgeting will seem a bit complicated and difficult to manage at first, but after creating a great budget for yourself, you will soon realise that it was well worth doing.
Do you think that there's anything else that would make you happier than debt free life?
About the Author:
Jenni Snook is the premier columnist of http://www.HealthyWealthySoul.com, a website dedicated to giving individuals tips and resources on personal finance budgeting to attain both financial and spiritual happiness in their lives.
posted by Credit Counseling at
3:08 AM
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