5 Budgeting Tips * The Ultimate Guide To Help You In Creating a Budget
Learn How Our Budgeting Tips Can Assist You in Creating a Budget That Works
Yes, we know that budgeting has a bad reputation with many individuals. However, our 5 budgeting tips should make it a bit easier for you in creating a budget. So many individuals have a pre-conceived idea that a budget means calculating hundreds of difficult sums and spending many hours each week tracking every single cent they spend. They think it means being forced to stay at home and never having any fun.
The truth is nothing like this at all. Below are 5 budgeting tips that will prove this idea is wrong.
1) Creating a budget is not difficult, and definitely is not “rocket science”
Many individuals feel that the process of creating a budget is hard, requiring hours of complex math. Nope, and it doesn’t require long periods of time slaving away over large piles of paper or an Excel spreadsheet. The truth is there are many ways to go about setting up a budget.
If you are someone who likes a lot of detail or working with numbers, there are many budgeting tips that can involve lots of figures and time working them out. But there are equally other budgeting methods that are very simple and straight forward to set up.
It’s all a matter of finding a budgeting method that’s right for you. There is no “one size fits all” method. We know all too well that if you’re not comfortable with the budgeting tips offered, you’re unlikely to stick at it.
2) It doesn’t take a lot of time and piles of paperwork to create a budget
Creating a budget does mean that you need to keep an eye on your spending patterns. Initially, you’ll track your spending more carefully to see just where you stand. It may require a budget adjustment, or more than one. Do remember that creating a budget doesn’t mean that it’s fixed forever. Time and circumstances often require change, so keep it flexible. If you remember any of these budgeting tips, remember this one.
We recommend that you purchase an inexpensive budgeting software program rather than using a spreadsheet. Over many years of client counseling. we’ve found that a good budgeting program is more beneficial. It not only takes away a lot of the paperwork, but will offer suggestions along the way. Plus, the ability to import your bank and/or credit card transactions can be a big time saver.
3) Making a budget doesn’t mean you’re having financial difficulties
Often times, some individuals interpret budgeting tips that refer to making a budget, to mean they’re having financial difficulties. This is one of the myths that usually pops up, and it couldn’t be further from the truth. Creating a budget and following it can keep you from having financial problems! Also, a good workable budget will help you to plan and budget funds for a future purchase such as a new car or that long desired vacation.
4) Working with a budget can reduce the stress in your life
For many individuals, budgets tend to depict a very unfavorable matter. This is probably because they envision eating cheap noodles at home in a dark room lit only by a single candle, with absolutely no luxuries or fun allowed. But just because you have a budget doesn’t mean you have to suffer.
Creating a budget is all about working out how to do the fun things you enjoy doing, while at the same time ensuring you have enough money left to pay the bills as they come in. Sure, in some cases you may find you have to cut back in some areas. But the only reason you would ever suffer after putting a budget in place is if you purposely set the budget up to make yourself suffer.
5) Budgeting doesn’t mean that you have no money to spend on fun things
Ironically, in our budgeting tips, we point out that it is really the exact opposite. The concept of creating a budget is to put every dollar to work, whether it be your normal expenses, or saving for some major purchase. It will also enable you to see where your money goes and stop any frivolous spending. Most importantly, you can budget funds to reduce and/or eliminate debt.
So, if you have a pre-conceived conception of what you think a budget is, read our five budgeting tips. Creating a budget that’s workable for you can make your life a lot easier with a lot less stress.
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Gust Lenglet – Platinum Author
