Personal Budget Planning
Living Debt Free


When personal budget planning, many people begin agonizing over the process before it even begins. We have been programmed to believe that anything designed to reel in our spending is bad. We feel uncomfortable about spending less. What a turn around that is from how we should feel.

personal budget planning

The idea of living from “paycheck to paycheck” is what should make us feel uncomfortable. Those "instant payday" places should be avoided like the plague.

Luckily, many families have begun to come around to the point that they are seeking solutions to their debt and overspending habits.


Overcome the Bad Habits

The best solution is not to run off and get a debt consolidation loan that will lower your monthly payments, but only by extending your debt over a longer period of time, thereby making you worse off than you were. The best solution for overcoming debt and bad spending habits is through personal budget planning.

Once you begin, your family’s spending habits will be clearly defined. This definition allows you to take note of your vital expense obligations and to target those that are superfluous to what you want and need. You will adjust your spending habits in order to do away with expenses that are unnecessarily eating away at your monthly income.

You will learn that you are not at the mercy of societal impressions that living above your means is somehow good. You will empower yourself and your family to take hold of your income and expenses and develop a plan for cutting costs and saving money that will get you everything you want and need in life, and eliminate those things that are unnecessary.

Think about the changes you might have made in your financial life prior to where you are now. Consider the difference between where you are and where you want to be. Do you know how to get there from here? personal budget planning is a guide and it will show you how to get where you want to go.


Do Not Get Distracted

Does it sound too easy? Remember the saying that nothing good is easy? Well, it is going to take some work and some time. It took some time to get where you are now, didn’t it? And I am sure it is not where you want to be. So why not invest some time achieving your goals instead of being distracted from them?

living debt free

If you consider your present situation, you got here because you became distracted with buying the shiniest car, or buying the latest computer, or having the biggest kitchen, or getting the most technically advanced cell phone.

In your heart, you knew that all those glitzy gadgets and new fangled devices, that everyone else was getting too, were keeping you from getting the things you really wanted. In your distraction, you bought a bill of goods from people who were selling you things they said you should want. Maybe you never really wanted half of that stuff at all.

Personal budget planning will guide you back to getting focused on what is important, showing you how to achieve financial freedom though living debt free.


The next article in this budget planning series is about defining your net worth when personal budget planning by taking an inventory.



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