How Budget Budging Can Create A Life Free of Debt For You Today
There's one thing I must clear up before I begin this article. Your budget is not a source of restriction. It's a powerful tool to give you the life you desire.
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. The bottom line is that we are better off understanding its meaning and the role it can play in shaping the life that we want.
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 this concept known as 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.
The first thing that you should do is to set up a budget that's realistic for you and stick with it. Record all the money you spend to the last, in whatever form it may be eg cash, cheque or credit card.
By doing this, you know where your income is going. Once you know where your money is going, then you can easily proceed to creating an appropriate budget for you. Nonetheless, it is absolutely essential that your new budget still gives you a comfy lifestyle while it does the job of reducing your debt.
After doing that, you should move onto the second thing, which is removing waste. You will quickly realise that much money is wasted on small unnecessary items. You have to be ruthless with this process.
Sacrifices may have to be made during this process. You can achieve this successfully by evaluating what you really need. It's vital you're honest with yourself and are able to sacrifice some luxuries that are really necessary at all.
In order to successfully cut waste, thinking short term is vital. It's important to think of the long term gain instead of the short term pain to do this properly.
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. The bottom line is that we are better off understanding its meaning and the role it can play in shaping the life that we want.
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 this concept known as 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.
The first thing that you should do is to set up a budget that's realistic for you and stick with it. Record all the money you spend to the last, in whatever form it may be eg cash, cheque or credit card.
By doing this, you know where your income is going. Once you know where your money is going, then you can easily proceed to creating an appropriate budget for you. Nonetheless, it is absolutely essential that your new budget still gives you a comfy lifestyle while it does the job of reducing your debt.
After doing that, you should move onto the second thing, which is removing waste. You will quickly realise that much money is wasted on small unnecessary items. You have to be ruthless with this process.
Sacrifices may have to be made during this process. You can achieve this successfully by evaluating what you really need. It's vital you're honest with yourself and are able to sacrifice some luxuries that are really necessary at all.
In order to successfully cut waste, thinking short term is vital. It's important to think of the long term gain instead of the short term pain to do this properly.
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 chief reporter of http://www.HealthyWealthySoul.com, a website focused on giving people advice and resources on personal finance budgeting to have both financial and spiritual happiness in their lives.
posted by Credit Counseling at
6:42 AM
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