![]() If you’re in a relationship, it’s time to grab your significant other.īudgeting is a new family tradition in your house. So with that in mind, let’s go over some important steps to help you create your budget. You’ll consistently fail at budgeting and will be left wondering what went wrong. If you neglect to do these things, you’re going to be caught in an unending loop. I wish I could tell you that creating your budget is super easy and we could jump into it right away.īefore creating your budget, there are several things you need to do in order to create one you’re actually going to stick with. How to Prepare a Budget You’ll Stick With In fact, you may be just a small financial emergency away from being in debt again.Īnd if you remember from earlier, a budget also helps you stay on the right track so you can achieve financial freedom. It’s great that you’re debt-free, but if your goal is to REMAIN debt-free, you should really have a budget. If you don’t gain control of your money today, you’ll probably just spend more as your income goes up. The stress will never truly go away.īut if you have an understanding of your financial position, you’ll know what to do with that additional income when it starts rolling in. Unfortunately, there just isn’t any evidence that says more money makes managing it easier. Your expenses will still be the same, right? Wrong! There’s the misconception that if you’re living paycheck-to-paycheck, once more money comes in, you’ll get the breathing room you need. ![]() While most people don’t usually say this out loud, I think it’s the most common response. “Things Will Be Fine Once I Make More Money” It’s all about priorities. Make sure money is close to the top of your list. You need to spend the time to better understand your financial position and plan for how you’d like to use your money for the goals you’d like to achieve.ĭon’t think you have time? You do. There are only a few things that will affect you over your entire lifetime. I’ll be upfront with you by saying that yes, this process is going to take time.īut my question to you is, how can you afford NOT to commit time to your finances? “It’s Going to Require Too Much of My (Already Limited) Time” So let’s take a look at a few of those excuses and debunk the conspiracy theories. That conversation is usually met with some resistance and often leads to excuses as to why they don’t need a budget.īut as you’ve already read, EVERYONE needs a budget. As you can imagine, budgeting comes up quite often. I meet with over 400 individuals and families each year to talk about money. Sweet! The Lies You’re Telling Yourself About Budgeting Now let’s go over what’s holding you back.Īnd the kind of budget I’m referring to doesn’t cut out the fun stuff (unless you’re having TOO much fun!) and/or require you to collect paper receipts. If you continue through life without that roadmap, it’ll be easy to veer off course and lose sight of your goals. ![]() Your budget is going to be the backbone of your financial life. Whether you make $25,000 per year or $250,000 per year, you can overspend in either circumstance.īut knowing how your income is going to be spent BEFORE you spend it is crucial. They’re not just for “those people in debt” or “someone who spends too much”. Let me get this out of the way early: as a financial coach, I believe a budget should be used by everyone. Get the support you need to follow through. Learn the exact steps you need to take to create a budget you'll actually stick with. Not only will you get access to the 4+ hours of instructional videos, but you’ll also get access to my full library of custom financial worksheets, my monthly financial newspaper, and MUCH more. It needs to have a purpose.Īlso, if you want to avoid this financial stress for good, consider investing in my course Budgeting For Budget Haters. Your budget needs to be built around your life and your goals. You didn’t get the entire story.īudgeting is much more than throwing some numbers on a spreadsheet or using the “cash envelope system”. Your previous, unsuccessful attempts at budgeting may make you think you’re a dummy, but that’s not it at all. ![]() This headline is designed to get you here so I can tell you just that.
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