Budget Tip - Customize Budget

Have you ever sat down to attempt to work out a budget only to get frustrated because it felt as though you were suddenly locked in a cell and someone threw away the key?

For most people setting up a budget feels exactly like this or worse. Which is the reason why a majority of people do not stick to a budget for any length of time.

Given you do have to have a degree of discipline but if it feels like jail what is the use of going through the process of setting it up if you are not going to stick to it in the long run. The true purpose of a budget is to get you to live in a comfortable place within your means with peace of mind.

Do you know how many people spend many sleepless nights worrying about finances? Neither do I but I can tell you as a Business Consultant it has become one of the top worries on most peoples list and growing each day. However, there are solutions that will work and not leave you feeling as if you and your bank account have been incarcerated.

Tip:

Instead of making out one flat budget for the entire year split it up into quarters. (3 months) We go through different seasons and for most households the spending changes according to the season. You would be creating an unrealistic budget if you don't account for these things in your budget and end up giving up the process all together. Therefore, account for things like birthdays, holidays, family vacations, family outings such as the movies. It is the small things and/or unexpected things that really throw off a budget.

Note: You do have to have a level of discipline no matter what the case. However, there is a difference between discipline and bondage.


For more information on budgeting tips and personal consulting contact Denise Johnson of EDALS Consulting at denise@edalsconsulting.com

2008 © EDALS Consulting. All rights reserved. No part of this document may be used without the written permission of EDALS Consulting.