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There’s one word that makes many individuals shake with fear…the “B” word, or budget. Many have the misconception that if you create a monthly budget, it will tie up your money in some way and you won’t have use of it.
Of course, that’s not the case at all; the budget enables us to see where our money is going. More importantly, a well-planned budget will let you get a handle on your spending so that you will know just where and how your money is spent. You’ll know how much is going for rent or mortgage, utilities, groceries, and also lunches and entertainment.
If you create a monthly budget, you’ll have a plan where you can set financial goals for your life and you’ll have the ability to see where you stand at any point in time. Besides allocating funds for the regular bills, you’ll also set up accounts for savings, investments, future purchases, as well as college for the children.
So you agree that your family budget is really being stretched or maybe it’s already snapped. This may not come as a surprise to many individuals, but the newest killer of the family budget is the monthly cell phone bill. When I first realized this, I found it hard to believe. But after much research, and talking with friends, I discovered that this was true.
The cell phone bill(s) has now become number 2 in size, right after the mortgage payment. That fact blows my mind. What is so important that needs to be said, that justifies cell phone usage of this magnitude?
I just heard of one young lady who paid her final telephone bill, and for the year, the twelve bills total $4,105.00. To make matters worse, she earns a little over $30,000.00 per year, and doesn’t use her cell for business. Fourteen (14%) of her salary was spent on her cell phone, and now she wonders why her credit card bills are so high and the family budget strained.
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