Budget? So, you want to budget and get into control of your money. Great choice! Here are 4 suggestions to designing an effective budget.
1. Find a budget tool that works for you-- some tools to consider Everydollar, an Excel spreadsheet or simple paper and pencil. A tool that you won't use, or you find too complicated is the same as not using a tool at all. The only tool that will work is the one that you will use. You don’t need anything high-tech or spectacular, even paper and pencil will work. I also have used excel or the free version of Everydollar with clients. I have some clients that link their banking accounts to the Everydollar and it makes it so easy to track your expenses and keep your self in check. Remember: Check yourself, before you wreck yourself!
Debbie’s Story:
In April, I called the nearby Staybridge Suites to book their conference room for an upcoming money class I was planning in June. The hotel representative, Debbie, asked what kind of training I was hosting. As I started to tell her, she quickly asked like Dave Ramsey? Yes, I am a Dave Ramsey Master coach. She excitedly replied, I want to come to your event. I have been listening to Dave Ramsey a few weeks now my husband and I make about $300,000 and we don't have anything to show for it. We use Mint, it doesn't seem to work. It tracks all our expenses, but it takes a lot of time and then we lose focus. I shared with Debbie that it might not be the right tool for them.
If you use Mint and find it successful, great! I am only suggesting finding the right tool for yourself. I think bikinis are great, but not for my 52-year-old body. Just saying, find the best fit.
Here are some other budgeting tips to keep the madness and stress at a minimum:
2. Allow yourself some spending cash to just spend and not track. It is not necessary to track every expense to manage your money well and live without stress. My clients assign $25 to $200 a week to spend without tracking it. You decide what will work in your budget and adjust to lower your stress and anxiety over money.
3. Get help - there are plenty of resources including videos that will help you learn how to budget or take a class. I will be offering you reduced price webinars by July 18th, contact me for a coupon code and you can attend as my guest, free of charge.
4. Get started- don't wait until you learn everything, you can make changes later. The important thing is to get started. Perseverance, not perfection is the key. If you slip, just refocus and persevere!
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