Updated: Sep 11, 2019
Create a Budget Now! Change your Choices, Change your LIFE.
Budgets are one of the most important ways to manage your income and your life. Understanding why a budget is important is the first step in setting one up.
Most people assume a budget is only for those who either have a spending problem or are experiencing a huge financial crisis. The truth is everyone should use a budget, no matter what your financial situations. Here are five great reasons why you need to start budget today!
1. MAKE YOUR MAP
Would you ever go somewhere new without a map, a GPS, or directions? Most likely not! Think of your budget as your own personal roadmap, it's such your path to your own destination. When you have a plan and you know it works, this gives you financial confidence!
2. TAKE CONTROL
Tell your money exactly where to go! Instead of wondering where all your money went, tell your money exactly where you want it to go and make sure that it gets there! There is a huge difference in telling your money where to go and making sure it gets there. It's the same as difference in goal setting and goal getting, there is a huge difference in goal setting and goal getting. Who are you? A goal setter or goal getter? Can you make sure that your money goes where you tell it to go?
3. REDUCE THE NOISE AND STRESS
When there's too much going on in your house with money going every which way, it can get very noisy! Too many credit cards! Too many kids asking for money! Too much spending on unnecessary "stuff", and way too much month at the end of the money! All this leads to way too much noise and way too much stress! Personal finance is a stressful thought in itself. Using your personal budget will give you peace of mind. What you don't want to do is find yourself lying awake at night worrying about your financial situation, budgeting reduces the noise and stress in your financial life. It allows you to sleep easy knowing that your money will last longer than your month!
4. TEAM FAMILY
Your budget will get your whole family on the same page, you will create a financial plan your whole family can work together on and contribute to and live with. Your family budget is a great way to work together as a family or a "team" to achieve your financial goals. Clarity is kind! Your whole team needs to know your financial situation. This will add to better relationships and improved communication. Invest in your family first. Instead of buying more stuff that will be pawned off at your next garage sale, invest in experiences that last a lifetime!
5. INVEST IN YOURSELF
Your budget will improve your physical wellness! It's not just about your financial wealth, it's also about your physical health! Your budget is your everyday life, everything is connected to your financial health. Investing in yourself comes in many forms, exercise, eating right, spiritual wellness, and relationships, all of these are intertwined and cannot be separated. Investing in yourself starts with eliminating your debt. Eliminate the "NOISE" in your life so that you can invest in yourself and your family and not your "favorite" credit card company!