I Hate Budgeting |
By Kenneth Long on January 20, 2010
.jpg.aspx?width=75&height=75) Preparing a personal budget is never a fun task. Let’s face it—we don’t like for anyone, including ourselves to come between us and what we want to buy.
If you hate budgeting, then you are probably looking at it the wrong way. Most people see a budget similar to a diet. We want certain things, and we feel guilty when we deviate from our plan.
A budget can be much more than that though. Instead of cutting out your guilty pleasures, embrace them. You do work for a living, and you deserve to appreciate the rewards of that hard work.
When I help a client develop a budget, I let them know that it is not my job to tell them they need to cut things out or do without certain things. That is actually the opposite of what my job is.
The truth is that my job as a financial counselor is to help you obtain everything you want in life. You might be surprised at the lifestyle you can lead if you plan for it. Planning is the key budget concept that gives you what you want now while achieving financial success in the long term.
Planning can allow you to obtain a nicer car than you drive now while paying less for it. Planning can put you in the house of your dreams.
Budgeting with a Financial Counselor
My process for helping you prepare a budget is to gather a realistic and conservative outlook for your income and expenses over the next year. I want to see that you have a healthy budget surplus to work with.
If you have a deficit, then there are certain options to correct that deficit. One option is to give you an opportunity to adjust some of your expenses. Another option is to find a supplemental source of income.
If high interest debt payments are contributing to your deficit, then you might benefit from credit counseling. An action plan can consist of either a self-guided repayment plan or a debt management program. Both are designed to lower your interest rates and reduce your debt at an accelerated pace.
My goal is to help you eliminate your debt, boost your financial reserves and build a solid credit rating. Budgeting is the first step to that.
If you have certain activities or optional expenses that are important to you, then I want you to keep them in your budget. You deserve to be able to enjoy life.
If you want to go it alone, feel free to utilize one of our budgeting tools. Alternatively, you may prefer to talk with an Accredited Financial Counselor to get help developing a budget. This way, you can get some insight on methods to improve your finances. |
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