Setting Up a Budget
When you are setting up a budget to succeed, do not let rust peel away your goals. It is surprising how many people defeat their efforts before they even really begin by no doing any personal budget planning. Here are a few things you need to avoid in order to make your efforts a success.
Do not have a negative attitude. Sometimes when we start something, we harbor feelings of doubt from the onset. You need to avoid such doubt and be clear that your efforts to set up a budget and personal spending plan will be a success.
Picture That Freedom
Keep in mind all the things you really want in life, because these are the things you will get by setting up a personal budget that succeeds. Use visualization as a tool and picture what it will be like on the day that you get the paperwork from the mortgage company stating that you own your home free and clear, and that they no longer have a claim to it.
Picture the smile on your face when you realize you accomplished this ten years earlier than you thought you would. This is an example of the sort of positive reinforcement you can use to drive out negativity.
Get motivated! Nothing is ever achieved without enthusiasm for the goal. If the bills have got you down, you need to get excited about the day coming when you don’t have any anymore. This will only come with setting up your personal budget. Remember why you are doing this.
You want to get out of debt, you want to own your home sooner than the mortgage papers say you will. You have an opportunity to get everything you have ever wanted. If you cannot get motivated about that, you must be dead.
Thirdly, you need to avoid setting your expectations too high. If you expect to become a millionaire through setting up a budget, but you do not have the income to support that goal, you will fail. Don’t set yourself up to fail.
This opportunity will work for you, but not overnight. You did not get into the financial circumstances you face in life right now in a blink of an eye. setting up a budget will not solve your debt troubles with the wave of a wand.
This is an ongoing process. You are, hopefully, in life for the long haul. Your personal budget will be set up for the long haul as well. Life takes trial and error, success and failure. Your personal budget is going to have failures and successes along the way. You are going to learn to define your spending and saving habits from trial and error.
Similar to going from Winter to Sring, you are changing the way you have been conditioned to deal with money. You are going from a thought process that tells you that money is for spending to a thought process that tells you that money is for saving. You will not be able to instantly switch these ingrained ideas. You will, however, learn along the way, by setting up a budget.
The next article in this budget planning series is about planning a family budget, adapting the given tips to make one uniquely your own.
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