Living on a Budget
Spending Money Wisely
Ah, the day to day grind of living on a budget. It does not have to be, you know. A grind that is.
Your personal spending plan is a boundary to ensure financial freedom and protection. Huh? Boundaries allows freedom and protection? Absolutely! A child's physical boundary at home is the property line. He may not cross the sidewalk to the street. He has the freedom to run around as he pleases up to the the property boundary line. If he crosses that line, he will run into the street, get hit by a car and end up in the hospital. Goodbye freedom.
We obey laws to ensure we live in a free country, protected from our enemies. Now, allow me an attempt to reach far back to our topic at hand and completely state my premise: Living on a budget allows you the freedom to spend what you have, but no more. Protection and freedom. Cross that line and you will need help in reducing credit card debt.
A New Mindset
Living on a budget requires a mindset of, "This is what I need to do and how great it feels when I am spending money wisely!"
How do you know if your personal budget is working? Here are three strong indicators:
1. Do you know within three minutes the average you spend for any category?
2. Do you know within one minute how much you have to spend in each category?
3. Do all categories added together equal the sum of your checking, savings, and investment accounts?
For some in the trenches practical stuff to help you answer these questions with a Yes!, go to the Budgeting Money page.
Personal Money Management
We typically think of personal money management as wisely using what we have so as to preserve it. However, in our current global economy we must now always consider possible income streams that we can use NOW and in the FUTURE when we are ready to retire. In addition to better managing our finances, we must also learn to create multiple income streams that will help to ensure living debt free remains a reality.
Use our budgeting tools to provide you a physical and psychological barrier to keep you safe. Safe from debt, safe from fear and anxiety - fear from a loss of income -- or whatever financial fear you might have. As you can see, living on a budget may require some lifestyle changes, but the return it brings in peace of mind and financial freedom makes the process and end result very satisfying.
Stay out of participating in the recession by having a personal spending plan. After seeing the results of your perseverance you will be hooked. All of that saved money, debt reduction, and mental freedom is addictive.
So, when can you stop? When you have no expenses of any kind, are pushing up daisies, or wish to once again become a slave to creditors.
Lots of Great Help is Here
As I have stated elsewhere, you have found the mother lode of budgeting information here on this website. As you stick around, you will learn about reducing credit card debt, how to organize bills, live a frugal lifestyle, washing machine reviews, learn some money saving tips, how to take family vacations on a budget, and a myriad of household budget tips.
Here is a little more sampling of what is available on this website:
An outside resource worth mentioning is this list of budgeting tips to help keep your budgeting on track.
Don't just read -- implement! I wish you well. Please let me know how I may help you.
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