Start Budgeting for your wealth building

A budget is one of the best tools in your financial toolbox that can save you money and help you spend more freely and ultimately build your wealth

What Is a Budget?

A budget is your written plan for your money, and its done every month. A budget actually gives you permission to spend. So, instead of seeing a budget as a list of what you can and can’t spend, you need to look at it as your game plan for the month. A budget gives you the opportunity to make a plan and spend your money on the things you care about and with more focus on it, you will find space to invest and increase your wealth. To put it simple, when you work out and go to the gym you have a plan on how to exercise and what type of workout you will do. Budgeting is the plan for your money

Why Should I Budget?

Simply putting it, is assigning every single unit of money a job – which means you control your financial situation. And when you stick to it, you’ll be meeting your money goals in no time.

It can take couple of months to get used to it but once you get used to it, you’ll see why using a budget is worth it.

The top lies about budgeting

1. Budgeters Don’t Have Fun or Buy Nice Things

Budgeting doesn’t mean you never spend money. It means you plan for how you spend money so you can do it like a responsible person. But you should always budget for the things you need before all the things you want.

2. Budgeters Have to be good with numbers

Everyone needs to budget, no matter their education and strengths.If you don’t love math and numbers there is a mobile application or software that will do the work for you.

3. Only People Struggling financially need a budget

Everyone needs a budget, you need a budget if you’re living paycheck to paycheck. And you also need a budget if you have some savings, if you want to achieve your goals quicker, if you’re in debt. A budget helps you take control of your money, get on track with your financial goals, get out of debt. Whether you’re struggling with or feeling good about your finances, a budget is a must for everyone.

4. Budgeting takes too much time

You can’t afford not to spend time budgeting. Your financial success depends on it, as you spend time on everything else you do. Mobile applications and computer software can help you with that.

Recommended Budgeting way

Zero-based budgeting, a zero-based budget is when all your income minus all your expenses equals zero. When you use a zero-based budget, you give every dollar a name, a job and a purpose. When you add every source of income and then subtract every single expense, your budget should end up at zero. Anything that’s “extra” doesn’t stay extra. Put it to good use working for you—every last cent of it.

JOIN MY MAILING LIST

Rest assured; I won’t bombard you with spam. But brace yourself for some exciting stuff, information and upcoming events that I’ll be sending your way from time to time!