Myth: I don't have time to work on a budget.
Truth: You don't have time not to.
Budgeting. The dreaded “B" word. Budget. The only other word that starts with “B" that might generate a worse reaction in most people is the word bankruptcy.
Unfortunately, the word budget has gotten a bum rap. It is basically just a plan. When you budget, you're spending on paper, on purpose, before the month begins. But many people view a budget as a straight jacket that keeps them constrained. Freedom and budget just don't seem to go together.
However, when you see that a budget is just spending your money with intention, you'll actually experience more freedom than before. Many people say they've found even more money when they created a realistic budget and stuck with it.
Here's some helpful advice about budgeting:
1. Give it 3-4 months to start working. It won't be perfect the first time you do it.
2. Spend every dime on paper before the month begins.
3. Over-fund your groceries category. Most people underfund that category.
4. Husbands (if applicable) need to loosen up and quit using the budget as a whipping tool on their wives.
5. If married, spouses need to do the budget together. The preacher said “. . . and you are One. "
For over 10 years, we've been teaching people how to get rid of debt. . . forever.
This content is provided by DaveRamsey.com and may be used only in its entirety with all links included. Dave Ramsey is changing the face of America by helping people beat debt and build wealth with his best-selling book, The Total Money Makeover, and nationally syndicated radio show, The Dave Ramsey Show. Read more of what Dave says about budgeting.