Having a budget in your life is a great way to ensure you’re making the most out of the income you worked so hard to earn. There are many people who live by budgeting and can attest that they work.
Nevertheless, there will always be reasons why a budget may fall apart. Everyone is different, thereby making all the reasons different. However, the following reasons have made many budgets fall apart and left the owner wondering, “Why don’t budgets work?”
Your budget is too complicated.
When budgeting, you want to make sure every dollar gets an assignment. That means every dollar you earn should have a place you’ve designed it to go.
That being said, you don’t need to go into too much detail. For example, when I write my budget I label a portion for “food”. I don’t label a portion for the bread, rice, and spaghetti. That would overcomplicate it and eat too much of my time. Read more
Budgeting. This simple word can cause many people to tense up and dread the following conversation. However, there are many benefits of budgeting every dollar each month.
Personally, I’ve found that having a budget in place gives me peace of mind and eliminates money quarrels within my family.
Since there are many people out there who may dislike talking about budgeting, I thought I’d give a little insight on a few different benefits of budgeting.
Your bills will always be paid on time.
Paying our bills are important. So much so, that forgetting to pay a bill can cause sudden stress on an individual. Read more
Have you ever had to go without a necessity? Maybe it was food, water, or utilities. No matter which kind of suffering you’ve endured, they’re all not fun and can leave us traumatized.
I grew up poor and had no insight that there was any other kind of life. I thought that was just how things were and life was a constant struggle. There was no one to teach me about finances and I was destined for failure.
However, I ended up crossing paths with an amazing money book that completely changed my life! I learned that life is what we make it and not merely what happens to us. By learning which habits were stealing my dreams, I quickly cut them out! I wasn’t going to allow anything to get in my way of success!
Here are 7 spending habits that will keep you poor and steal your dreams.
Alcohol And Cigarettes
Addictive substances, like alcohol and cigarettes, are extremely dangerous because they cause us to do irrational things. When we ‘just need to smoke’, we can end up spending our last few dollars on cigarettes.
Recently, my husband and I went to a convenience store near our local laundromat. The door had a sign that said $8.68 for a pack of cigarettes. My jaw completely dropped. I cannot believe that people are paying these ludacris prices for something that is killing them!
I think we all know cigarettes are expensive, but what about alcohol? People can get whole cans for a dollar. Surely, something like that isn’t stealing their wealth. Think again! People become reliable on these type of substances which causes them to buy more and more.
I once lived in a very bad neighborhood and the neighbor was an alcoholic. He would get up before nine and begin walking to the liquor store. He was unemployed so he would drink all day. Then, he and his wife would argue almost every night about money and his drinking. It was an extremely toxic relationship and I’m happy to be out of that part of town! Read more
80% of Millionaires are first generation.
You read that correctly! The majority of millionaires that exist weren’t always millionaires. They learned how to earn, invest, and grow their money into more. So why am telling you this? Because if they can do it, so can you!
Q: What sets these people apart from everyone else?
A: There are many different reasons why someone may be successful. What makes one rich may not be the thing that makes another rich. But there are habits of successful people that cannot be ignored and I believe make all the difference in the way they live their lives.
By adding these habits of successful people into your routine, you can produce extraordinary results. Therefore, if you’re tired of setting for average, kick it up a notch! Making these changed can unleash a part of you that propels you into success!
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How can someone who is poor become rich and is it even possible?
That was a question I’ve wondered for a long time. Growing up, we always had enough for what we needed, but that was it. I began wondering what was the meaning of life and why do other people seem to be more successful than others.
Being poor was not fun. In middle school, I experienced a really embarrassing moment. A kid asked real loud in front of everyone asked, “Why do you wear the same pants every day?” I know he did it to make fun of me and I experienced embarrassment and anger. A lot of other kids seemed to have really nice clothing. I had two shirts and two pants. That’s it.
I knew I wanted to be successful financially, but I had no real plan. They don’t teach money in school and I couldn’t find anyone around me who really knew how to manage finances. So like many others, I did my own thing. But my plan didn’t work.
When I began learning how to handle money the correct way, I was already a young mom and had a family. Still living with my mom (yikes), my husband worked to provide for everything we needed. But we were still only breaking even and I still didn’t have any nice clothes.
Think about that. A young mom living at home with her parent with no job, no car, no income. Once I got my hands on some really good financial teachings, I knew my life was changed forever. I learned that rich is a mindset and by becoming successful at mastering your mind for abundance, it will surely come. Read more
Growing up, I had no one to teach me how to succeed at finances. I learned how to win with money after I already had a family to feed. A budget was not in my vocabulary nor did I ever hear anyone around me speaking about one.
My family never had any sort of savings. I had no idea what a budget was and how empowering it can be to have one set in place. I’ll be the first in my family to save money, get out of debt, invest money, and become financially free. I’m not there yet, but it all starts in one place: the budget.
(This post may contain affiliate links. If you make a purchase through one of my links, I’ll receive commission at no extra cost to you. Thank you so much! Read our full disclaimer here.)
My husband was spectacle at first, but now he loves having a budget set in place. We know all our bills are covered and we have money to spend on ourselves. I feel at peace in our financial life and we agree on every decision together.
What Is A Budget?
A budget is a written plan that describes what you’re going to spend your money on. If you don’t have a plan, dollars will fly out of your hand into the hands of someone who does have a plan. Winning with money doesn’t happen by accident. This is one of those things that you’re going to have to be intentional about if you want to succeed. Read more