Making a budget is a marvelous first step, but far too often that’s where the fairy-tale ends for most. Let’s face it . . . Finding a budget template is not much more than a simple Google search away. The issue most of us have is figuring out how the heck to stick to it!
The reason so many people give up on using a budget is because the one they have created is far too rigid, intimidating, complicated and restrictive.
Here are four things people don't tell you about budgets before you download their fancy spreadsheets:
1. Attitude – First and foremost, your attitude toward creating a budget has to be healthy. If you think that budgets stink, then guess what? . . . Your budgeting experience is going to stink! I usually have clients call their budgets something along the lines of a “Prosperity Plan” or “Wealth Building Map.” The title doesn’t matter as long as it gets you excited about managing and mastering your money and further away from furrowing your brow!
2. Purpose - A budget should have a defined goal you would like to achieve within a specified time period. Having a goal in mind will help you keep focused when your discipline begins to wane and feel more like deprivation. Once utilizing your budget helps you obtain a goal, set another one. Never become complacent when there is always a goal you can be striving toward.
