Whether you won the lottery this week or you do not know how you are going to pay your utility bill this month, you will NOT get where you ultimately want to go without a budget. No excuses, you must sit down and put together a budget! Account for everything. I believe Dave Ramsey refers to it as EVERY DOLLAR budget, or something like that. That is as straight forward as it gets. As you do this exercise list EVERYTHING.
What are some of the reasons folks do NOT prepare a budget:
1. It takes too much time. WRONG!
2. I will be embarrassed. I get it but WRONG!
3. I don’t have enough money to budget. WRONG!
4. My wife and I are making a ton of money. Why budget? STILL WRONG!
5. I can keep track of it in my head. WRONG!
6. I don’t want to feel constrained by a budget. VERY WRONGI And having a budget will actually have the opposite effect – the budget will set you free.
I have heard dozens of excuses of why NOT to have a budget. But in my 40 plus years of advising (or coaching as they like to call it today), I have never heard an excuse that makes a lick of sense! I often tell my clients that one can think of the numbers in a budget as you would think of your preacher; “You might not always like what they have to say, but they are NOT going to lie to you!”
If you want to get through the hard times (and there will always be some), plan your retirement, attain financial freedom, have financial peace, or even simply financially survive; it ALL starts with a budget. Would you consider driving across the country without a map? (or GPS). Of course not. Unless you want to get lost, meander, feel uneasy, or worry! Same goes for your personal (and family) budget.
And while the first draft of your budget might take a little time and be frightening, it will be an eye-opener. I promise! Until you get your eyes open, you will be in the dark and not go anywhere. There is absolutely nothing to be embarrassed about taking control of your financial life. Wherever you have been or where you are today, has NO relevance on where you will end up! And the only one that will know about this is your spouse or partner and YOU!
Once you face the reality of a budget and make your plan, you will feel like a burden has been released. I guarantee it. Is it scary? Of course, it can be. But if you don’t know what’s broken, you can’t fix it.
Constraints? Just the opposite. By the third or fourth month of living by and tweaking your budget, you will feel FREE.
Whether you are currently making $10 or $10 million, manage your finances via a budget. You will be glad you did! It WILL MAKE a DIFFERENCE! Budget is NOT a 4-letter word!
If you would like a sample budget form, have questions, or want to attend a seminar near you, please drop me an email at Tom@unliimitedperks.com. Please reference BUDGET in your email. Join Unlimitedperks.com for FREE. It will help your budget and help us MAKE a DIFFERENCE!