Budgeting

Lots of people fail to see why a budget is a good thing. It may seem as if being put on a budget says that you don't make enough money or make wrong choices. Actually, being on a budget says that you make the right choices. For now and for the future.

So why should you budget?

1. A budget gives you the ability to control your money. Your money doesn't control you when you say where it goes. You choose to make the choices. If your money is controlling you, you are choosing not to choose where your money goes. You aren't making the decisions. But you make that choice.

2. A budget not only lets you know what you are spending, it helps you to live below your means. You know if you are spending more than you make. You are able to look at your spending to see how you can make it fit your income. Your income will never fit your spending on its own, so you have to adjust your spending first.

3. A budget is more than what you are spending and where. It is your goals and plans and spending. If you don't have guidelines for your goals and plans, you probably won't reach them. You need to know what you need to get where you are going. This is essential to being able to retire comfortably, pay for your children's education and enjoy a carefree life.

4. A realistic budget frees up money for you. You are able to spend your money on things you really want instead of wasting it on things you don't remember buying. If you have ever looked in your wallet and wonder where you spent all of your cash today, you need to have a budget. After all, fifty bucks can slip through your fingers rather quickly.

5. A budget can improve your marriage or relationship. If the two of you stick to the budget, it will bring you together. You are working with each other towards common goals. Arguments about money will be lessened. You are showing that you respect each other's wants and needs by spending with the other person in mind.

6. A budget helps you get out of debt. It also helps you to stop from creating debt. Your saving goals are very important. For every dollar you spend on a credit card, you are cutting thousands out of your savings. Look at how fast your savings can add up. Look at how long it can take you to pay off your debt. It is easy to see that you should make a plan to pay off the debt and put your money to work for you, not against you.

7. A budget can improve the quality of your life. You have a plan. You no longer have to lie awake wondering how you will make ends meet. Your budget lays things out for you. Your less stressed and able to enjoy life a little more.

Budgeting is a really good thing. Actually, the reasons are endless. My family started budgeting to get out of debt. We found that you can have the things you really want. And not have to sacrifice for them. No more sleepless nights and no more arguments about how to fix things. And we are looking towards a happy retirement.