Plans are important. They allow us to know where we have been and were we are going. A budget is a plan with our money. Take the time now to create your categories of spending. If we do not know where are money is doing there isn’t a way to change our spending habits and produce the results we want with money.
A budget will provide freedom and clarity. When I know where I spend my money I can make decisions that support my values and goals. When I work with clients we work with a values assessment to gain clarity on what really matters. If I want adventure but I spend all my money eating out I won’t have money for adventures. Having a budget that you reference on a daily and weekly basis provides peace of mind. I will know when I have money in my budget to spend and won’t overdraw my accounts, create credit card debt or borrow from someone.
What stops you from beginning that budget? Many of my clients says it will take too long or they won’t be disciplined. The reality is setting up a budget takes less than 45 minutes. I walk clients thru this in our first appointment or two. The discipline can be built in with calendar reminders, alarms, and creating a regular meeting time with yourself, with you and a spouse and with an accountability buddy. As you start and see momentum you will naturally want to budget. Success supports more success. When clients work with me we make our appointments a natural check in with the budget and how it is coming along.
Schedule a specific time of day or day each month to review your budget and plan the next month. Create a regular time (especially in the beginning) weekly to categorize and note how each category is doing. Some will change monthly others daily.
Find a budget program that works for you. Yellow pad, Spreadsheets, Everydollar, YNAB, etc. Figure out what your needs are and from there determine what system works best. Schedule a call with me and we can discuss this.
All in all, when you have a budget you are able to look forward, make decisions aligned with your values and produce greater peace of mind and certainty.
Contact Cynthia Stringer for your complimentary coaching appointment to strategize and learn one new action step you can implement right away.