Look, setting up a budget is not easy! But with a little perserverance and effort it can change your life around.
Think about it, no more sleepless nights worrying about money or the lack of it. Set your goals and stick to them but don’t forget to give yourself some little rewards along the way as you work toward achieving your major goals.
There is no need to live like the proverbial church mouse or stop doing everything just to cut down your expenditure! Make sure that you still get to do things that you like ie. the movies, dining out, but do it in such a way that it’s a reward for all the hard work and sacrifices you have been making.
Don’t forget, budgets are not about going without, they are about reassessing what you have (income), to achieve what you really want (goals).
Like anything we do in life we need to apply a certain amount of discipline to the task at hand. Creating a budget is no different. Whether it’s recording on a daily basis what we spend or entering our spending into the ihatebudgets software programme it all requires some discipline. That’s why we have included a section on setting goals in the ihatebudgets training modules, to help you achieve what it is you really want.
By working through your goals you will begin to develop the discipline to create your budget. The next step is to continue to fine tune it to the point where it is no longer a chore, and becomes a welcomed task, because you are now in control of your finances rather than your finances controlling you.
When setting up your family’s budget make sure they all know what you are doing and why. Look, this is critical to the success of your budget!
By working with your partner on what you both want to achieve and setting mutual goals that you can both work towards, will go a long way to ensure the success of your budget. Let your children know that you are creating a budget and why, obviously this will be dependant on their age and ability to understand.
Teach them that the reason you are creating your budget is to achieve the financial goals you have set and they will very quickly become part of the overall process. Ask them what they would like to see in the budget, be it a holiday, new car or whatever.
I know from personal experience that I no longer take my youngest daughter to Bunnings with me anymore. Bree would ask me when was I looking at some power tool, ” Dad do we really need it or is it just a want?” but the best one is ” Dad is it in the budget?” and the absolute killer ” Does mum know about this?” You guessed it, I’ve created a monster.
When it comes to reading articles on money, I really want it to be simple to understand. The “5 Easy Steps To Taking Charge Of Your Finances” from Greg Bell is such a booklet. It aims at making the what, why and how to budget easier to grasp.
It is Greg’s belief that a budget must be simple so that you will enjoy setting up a budget and sticking to it. If you have to spend your valuable time in doing a budget, put your efforts in and make it worthwhile. From Greg’s experience, those who take the time to plan properly will have the confidence of getting a better lifestyle and will have fewer stresses when dealing with the surprises of everyday life. In short, the following are the steps.
1. Review your financial situation.
“Some couples go over their budget very carefully every month; others just go over them” – Sally Poplin
2. Create a cashflow sheet and prioritise your bills.
“I have enough money to last me the rest of my life, unless I buy something” – Jackie Mason
3. Break the problem down.
“My problems lies in reconciling my gross habits with my net income” – Errol Flynn
4. Setting Your Goals
“A budget should reflect your priorities and Values” – Gregory Bell
5. Get into action – do your income and expenses analysis.
“Momemtun turns dreams and plans into reality” – Aaron Bell
A picture is worth a thousand words, so this “5 Easy Steps To Taking Charge Of Your Finances” is using lots of graphics to get the points across to you. Click on the booklet to sign up for a copy.
Get Your Copy Now or Sign Up for a AUD$1 30 Days Trial.
Our next upcoming issue is “5 Easy Steps For Teenagers To Taking Control Of Their Expenses ”. You will automatically get a copy if you are registered for the first issue of “5 Easy Steps”.
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At ihatebudgets we provide a complete Personal Budgeting System - including online coaching.
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“ihatebudgets’ Online Coaching System will get you into a good budgeting discipline and keep you to it. This system can also help you develop a skillset that you will be able to use not only in your every day life but in your career and business as well.
A good budgeting habit is vital and ihatebudgets will help you develop this skill. Get Started now.
ihatebudgets is a complete budget management service. It is much more than a simple software package – it is a complete online service that will help you budget more effectively and ultimately it will help you achieve your financial goals faster.
The ihb online system provides many useful tools to assist you to work with and maintain your budget.
The ihatebudgets Online System is one of the most complete, total packages available on the market and includes:
- Budget Management Software especially designed to be easily set up, navigate and use.
- Training is provided online to set you up, get you started and ongoing help in using the software.
- A comprehensive, reader friendly, Budget Training Manual and Software Users Guide (downloadable in PDF format).
- Importantly, you’ll receive ongoing online Virtual Budget Coach support – a vital aspect of the service – so you won’t fall behind or lose sight of your goals.
- Handy “fridge magnet receipts filer”.
- ihb Pen and two notebooks for your daily spend record (aka “Dork Book”)
- 15 ihb envelopes for filing of your receipts.
- A Weekly ihatebudgets newsletter that covers client success stories, budgeting tips and tricks, software update notices, general company news and special offers.
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