Budgeting is Everything!
I can feel your eye roll. Hear me out.
Many people avoid budgeting because their finances make them anxious so they put their head in the sand and hope it will all work out. Is it working out?
My guess is NO.
Let´s change our mindset around our budget and starting embracing our budgets (or the idea of a budget) as your better half, the one that is always looking out for you and having your back. Read on to hear why.
Here are all the reasons why your budget is your best friend:
Your budget is the plan for you money and this plan is what makes financial freedom possible.
It helps you ensure that you are not spending more than you make and therefore have enough money to pay all of your bills.
It helps identify your spending habits and better align them to your goals. For example, reduce eating out to save up money for travel.
It can allow you to use credit cards to your advantage by helping you ensure that you are not spending more than you make each month and can therefore pay off your credit card in full.
Effectively managing your expenses means you can make saving and investing a priority. Although budgeting is the key to unlocking the road to financial freedom, financial freedom cannot be achieved without investing. Therefore we have to track and manage our expenses so we can save and invest.
Finally, do not look at your budget as being restrictive. In fact, it is quit the opposite. My budget is the plan I created to help me make all of my financial dreams come true. Love buying coffee every day? Cool, make it a line item in your budget.
The spending caps I placed in my budget are there to ensure I have enough money for the things that matter most to me: saving each month for travel, my splurge account, a rainy day and investing (just to name a few). It is your budget, design it for your life and what is important to you. Then you can start approaching your budget with love, admiration and appreciation.
Get your budget on!
Finally ready to make your finances a priority? I promise it won´t be as hard or as scary as you think.
Join my Road to Financial Freedom classes and start changing your financial trajectory. In my course, you will receive all the info you need to feel confident but not overwhelmed and I walk you through the tasks you need to complete to implement your own Road to Financial Freedom. I am here to support you the entire way via email access and coaching. For more information see my website. If you are ready to sign up, please click here.
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Disclaimer: I am an educator, not your personal financial advisor. Please make sure to do your own research before moving forward with any actions discussed in this newsletter.
Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research!