Why Should I Make a
Budget?
You say you know where your money goes and you don’t need it
all written down to keep up with it? I issue you this challenge. Keep track of
every penny you spend for one month and I do mean every penny.
You will be shocked at what the bitty-bitty expenses add up
to. Take the total you spent on just one unnecessary item for the month,
multiply it by 12 for months in a year and multiply the result by 5 to
represent 5 years.
That is how much you could have saved AND drawn interest on
in just five years. That, my friend, is the very reason all of us need a
budget.
If we can get control of the small expenses that really don’t
matter to the overall scheme of our lives, we can enjoy financial success.
The little things really do count. Cutting what you spend on
lunch from five dollars a day to three dollars a day on every work day in a
five day work week saves $10 a week… $40 a month… $480 a year… $2400 in five
years….plus interest.
See what I mean… it really IS the little things and you still
eat lunch everyday AND that was only one place to save money in your daily
living without doing without one thing you really need. There are a lot of
places to cut expenses if you look for them.
Set some specific long term and short term goals. There are
no wrong answers here. If it’s important to you, then it’s important period.
If you want to be able to make a down payment on a house,
start a college fund for your kids, buy a sports car, take a vacation to Aruba…
anything… then that is your goal and your reason to get a handle on your
financial situation now.
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