Why Your Budget Doesn’t Work

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Why Your Budget Doesn’t Work
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A side benefit of being immersed in a world of personal finance bloggers is I see A LOT of good tips on everything.

7 ways to rock an all-star budget. Budget your way to success is 3 easy steps. 101 reasons you should start budgeting now.

Okay, that last one might be a slight exaggeration. You get my drift.

We’re awash in a sea of excellent tips. However, Americans are still living paycheck-to-paycheck to the tune of 76%. That’s a huge chunk who will have difficulty pursuing debt free living. Either these tips are falling on deaf…eyes…or something else is amiss.

 Budget Tips to Pursue Debt Free Living

These fantastic suggestions, tips, and ideas do us no good if we:

  1. Don’t apply them
  2. Don’t stick with them

Let’s look at some reasons why success with budgets allude some of us and find an alternative course of action.

1. You don’t create a budget. Nothing beats a failure but a try. If you’re not creating a budget, you’re not likely to live by one. This seems fairly self-explanatory. Starting today, commit to telling your money what to do on paper before the spending begins.

2. You don’t enjoy it. Maybe setting and sticking with a budget isn’t the sexiest activity one can engage in, but how can you make this less of a chore. Work on this with a partner or group. Use the Power of Community to find ways to simplify your process. You might be making this harder than it needs to be. Reward yourself when you achieve interim milestones. Setting up a positive reinforcement model works in other areas of life. Trick yourself into a love affair with your budget.

3. You feel it will be restrictive. On the contrary a budget is freedom. Instead of guessing and wondering what can or should happen with your finances, a budget put you in the driver’s seat. Once you have the numbers in black and white, you can make more informed decisions and be proactive rather than floating from emergency to emergency.

4. You don’t see it. After you create the budget, where does it live? Is it hidden on some sophisticated website or tucked away in a file embedded deep on your hard drive. Regardless of how you create the budget, find a way to create a physical copy. Even if that copy is a summation of the high points. Post that budget in the house (somewhere you visit often and enjoy relative privacy) so that you are CONSTANTLY reminded that you have financial goals.

5. You don’t make time for it. You Finance Committee meeting should be scheduled – just like hair appointments, dates, or TV time with your favorite episode of mind candy! Life gets busy and before you know it, another month is upon you. Right now, collect whatever device you use for coordinate your schedule and block out an hour of time to focus on your finances. In between commercials is not a good plan.

Focusing on these five areas will really make you rock out an on all-star budget in easy steps starting now.

Budget Tips to Pursue Debt Free Living


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