Personal Budgets To Fit You Part 1

Posted on 17. Apr, 2014 by .

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Personal BudgetsPersonal Budgets To Fit Your Lifestyle Needs And Wants

When I use the term personal budgets, I mean creating the budget that works best for you. Whether you are creating a personal or household budget doesn’t make a difference. It just means that you should create the budget that will work best with YOUR lifestyle, YOUR needs, and YOUR wants.

The purpose of this article is to change the way you think about money, or at the very least to pique your curiosity enough to make you want to know more about personal budgets and how they can help you.

You need to think of your money not just as a paycheck that you’re earning now to take care of this week’s and this month’s bills and expenses, but as something that also has to take care of you in the future.

I know that it is all too easy just to stay focused on this week or this month. If you don’t think about and plan for your future and your retirement years, who will? Do you expect your children to provide for you when they get older? I know I want more for my children than that. That is what finally made me grow up financially. Having children and knowing that I want them to have a better life than I had. I don’t want them to have to carry me financially if I get sick unexpectedly or because I planned poorly and thought Social Security could support me.

I know that fear of the answers to the financial aspects of our lives can be paralyzing sometimes and cause inaction. But whatever your financial situation is, it will not change until you decide that you are willing to examine it and make changes. I know what it’s like to have a hard time facing that fear. In the 6 years we have own our home, we came close to losing it twice. Once, when I left my job to take care of my mother, and again about a year later when my wife lost her job.

Sometimes that can be scary, especially when that little voice in your head is telling you that you are spending more than you are making. As long as it’s not in black and white you really don’t have to face it, right? Wrong, it will only get worse and seem even more unmanageable if you don’t face it. Your circumstances won’t change until you decide to change them. Money is not going to fall from the sky into your lap. You either have to make sure that you are doing as much as you can with what you have now, or you have to earn more. It’s that simple.

The only way to create wealth is to increase your means (income) or diminish your wants (expenses). But the best way is to do both at the same time. Benjamin Franklin said that a couple of hundred years ago. It was true 200 years ago and it is even more true now.

Knowing Really Is Better Than Not Knowing

Don’t let fear and uncertainty keep you from the life that you want for yourself and your family. Take that first step now, start working on your personal budgets today. We can do it together, I’ll show you how. Personal budgets, setting goals and planning ahead is the way to accomplish that. This article is also about credit, credit card debt, your credit score and debt management. If you think about it all of those things tie together. When you pay down your debts and work on repairing your credit report, your credit score goes up which gives you and your family many more options in the event of an emergency and just in general.

A better credit score will allow you to get better interest rates on your mortgage, credit cards, equity loan, car loan and even personal loans. Lower interest rates will in turn, put more back money into your budget.

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