If there is one magic tool or trick to getting better with money it is knowing how to budget and stick to that budget.
The word “budget” for many people carries a negative connotation of not having enough money or requiring intense levels of sacrifice or not allowing you to have any fun. But that’s not the case at all!
A budget is simply you coming up with a plan for what you’re going to do with the money you earn this month BEFORE you actually receive the money.
You can decide to spend it on a vacation, or to have your nails done, or to buy groceries, or to save some, or to give some, or to payoff some debt. You’re in control of what happens with your budget. It’s just a reflection and list of your spending priorities.
The Most Important Thing
What you don’t want to have happen is to own that new iPhone or computer and have your electricity shut off because you didn’t have your priorities in the right order. You don’t want to pay for your daughter’s dance classes before you pay for groceries. Many times when we aren’t setting a proper budget, it’s our GUTS that get hurt the worst.
Download our budgeting forms here to help you get started with your own monthly budget.