Ever since I can remember I’ve worked with some sort of budget. These could vary depending on the financial goal I wanted to achieve. Maybe I wanted to save some money for a trip, a new camera or the holidays were coming and Christmas presents needed to be bought.
The curious thing is sometimes I planned and established specific methods to follow. While other times I just winged it hoping for the best. I don’t necessarily condone this second practice, but I like to live by a motto from time to time that states:
“Go with what you feel.”
After some time, I’ve come to ask myself:
Is having a budget really helpful?
I’ve gave some thought to this question. The answer is nor complicated or simple. The answer really comes down to: How committed and responsible are you with yourself? More specifically: How committed are you to saving money? If the answer to these questions is: That you are proficiently skilled spending money, while suffering from the condition of not knowing how to save. Having a budget is the cure to your problem.
Budgeting is just a tool that helps you organize your spending and savings. Nothing more, nothing less. When you start to budget for the first time you’ll face a reality check. In which you’ll judge yourself on the amount of money you spend on ice cream each week…or maybe that’s just me. You’ll notice how your money goes from your pocket to other places. This will help you understand how your money arrives and goes. Understanding your biggest expenses.
Starting a budget can help you see how much you really spend on food and how much you don’t spend on luxuries. I share this because you’ll be surprised how much money people think they spend on luxuries, when they actually spend it on food.
But, if you’re one of those lucky people that being organized and conscience of your every decision comes naturally. Budgets can be a flexible tool that you can use to your advantage. You can use them as guidelines and not rules. Play with them to help you achieve those goals you want to conquer.
Budgets can be helpful no matter what type of person you are. You can personalize them to fit your own unique necessities and make them flexible for the type of person you are and the life you want to live. The important thing is to be consistent. Budgets don’t work themselves. They take time and effort to be effective. But after a while you’ll get the hang of it, and will start to make your own personalized budgets without even knowing it.
“Always remember to have that KING mentality”