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There are a lot of people that run in the opposite direction when they hear the word “budget.” I used to be one of them. Budgets don’t have to be scary things. You just have to make sure you keep them uncomplicated and easy to work with.
One thing I’ve learned through this whole financial journey is that unless you know where your money is going every month, your financial situation won’t get any better. I tried for years to go without having a budget, and the result was always the same: disaster. We spent more than we earned every single month. The worst part was that we had no idea where most of the money went.
Some people avoid budgets because they’ve never had one before. When my husband and I first started using a budget, I went to the library and checked out books about making budgets. Our library has more books about budgeting and finances than I expected. Using library books for this project was great because we could get budget ideas from lots of sources and then combine the parts we liked into our own personal budget. You can also look online for sample budgets. Google Documents has some budget spreadsheets that might work for you.
The main idea of a budget is to figure out how much money you have coming in and how much money you plan to give, spend, and save every month. The two amounts need to be equal. That’s it. If you can do this by using a legal pad and pencil, then that’s fine. Sometimes writing out a budget works because it’s less intimidating than a spreadsheet.
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When we first started using a budget, I got frustrated if we spent more than we were supposed to. It took awhile to realize that budgets aren’t going to be perfect, especially when you first start using them. You have to adjust them as you go along, sometimes in the middle of the month. We’ve been using a budget for about five years, and we still make changes every now and then. Circumstances change, and your budget needs to change with them.
My suggestion for you:
Have some kind of monthly budget so you know where your money is going. Don’t get discouraged if it’s not perfect at first. Work with it every month until it’s something that’s useful and easy for you to use.
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