Personal Budget Planning
A Practical Example
I would now like to give you a practical example of how the personal budget planning process works to help your brain wrap around this:
Food. We all eat it and therefore can relate. I think for a family of 6, about $450 per month should do based on what I believe my habits have been. After all we like to eat out and have a lot of those boxed goodies lying around the house waiting to be consume. (Yes, I know you know where I am going with this -- please allow me the indulgence of my story).
As I go along the month spending money, I feel pretty good knowing I am going to save a whole lot since starting personal budget planning that I learned from David. What a great guy he is! Anyways, at the end of the month, I add up the receipts (since I was diligent enough to keep them all) and WHAM! $529!
What?!? David is nuts! What kind of scam is his pesonal budget planning system, anyway? He said he has made the complicated easy! Just then another wham. My wife comes in with some grocery and eating out receipts she had for the month and adds them in to the mix. Oh, wow. $620.
What Went Wrong?
Life. Expectations met with reality on a collision course that ended its life in an obliterating mess (sometimes I get a bit carried away).
I calm myself down and the both of us sit down to discuss this. Is the $450 not a realistic food budget figure for our family? Are we eating out a lot? What are some ways we can save money on food?
OK, I get it. David has made the complicated easy. I just need to look at my spending in a different light. I should really apologize for my earlier rant.
Freedom Is On The Way!
And on it goes with each category. Personal budget planning forces you to live within your realistic means. When you persevere, know that freedom is on the way!
Just keep spending less than you take home, save what you can for the future, tithe if God is important, and give to others. If you suddenly receive some unexpected money (tax return, inheritance, etc.), put it all in savings or debt reduction.Above all, don't quit. Persevere. Get some help if needed.
You are right now creating a legacy to give your children and grandchildren for generations to come. You are the Moses leading your family, and others you eventually will teach, out of financial slavery into the promised land of freedom.
I wish you well and thank you for being diligent. Do let me know if I can help.
Be sure to come back often, click around, and read. As long time readers know, do not just read - implement. Here are some more ways for saving money fast through living on a budget.
This is the last article in this budget planning series. I have created en eBook that brings this all together for you in the Financial Freedom Resource Center, with other tips on budgeting, free for subscribers.
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to Household Budget Made Easy.