What is your physical reaction when someone mentions the word “Budget?”
We really should call it something else because most people sneer, grimace, or physically shiver in revulsion when the word is uttered in their presence.
It’s a bad word. But why?
One reason that many people detest the budget concept is that they believe that a budget is restrictive.
It might remind them of when they were kids and their parents made them save money.
Denial is another reason that people abhor budgets. When you know how much you have coming in, you also realize that you’re probably spending too much.
The truth is difficult to face and there’s nothing like a list of your expenses and your income to remind you about how much or how little you actually have to spend.
So how do you get beyond this limiting factor?
How do you get over the Fear of Budgeting.?
1. It’s Not Law
What you put into your budget isn’t a law. There are no budget police that are going to come and knock down your door if you spend too much in one category.
A budget is a guideline or a plan that YOU create. It’s a simple tool to manage your money and you can change it however you see fit.
If you decide this month that $100 is enough for dining and then next month you realize that you need more like $200, then you can change it. It’s entirely under your control.
2. It Is about Control – Your Control
A budget helps you control your money. It puts you into the driver’s seat and lets you make all of the important decisions.
And who else should be making these decisions? No one, right? 🙂
A budget can feel extremely freeing, especially when you are able to see that some expenses aren’t necessary and that by eliminating them, you have more money to spend in other areas.
3. More Money in Your Pocket
When you create a budget, it also sets the tone to start paying more attention to your finances.
For example, it’s not uncommon for someone to sit down and create a budget only to realize that they’re giving their bank $10 a month in fees, they’re paying 30 percent interest on their credit card and that they are spending $75 a month on a gym membership that they never use. This adds up quickly.
A budget helps you stop the gaps and seal the cracks so you keep more of your hard-earned money.
So change our mind set and take control of your money and let your budget work for you.
If you need help with your budget both personal and business I can help Book a Free Email Consultation Here and start your year right . Take control of your finances today.