Page 13 - Book2E

CHAPTER 2
Establishing a Budget
Do you cringe when you hear the word “budget?” Do you resist the idea of recording expenses and tracking spending? Once you start, you will be surprised to find that it can be quite enjoyable to know exactly where your money is going every month and how much is in the bank. Taking charge of your money will help you take charge of other areas of your life as well. You’ll feel more confident.
You’ll be able to enjoy the time you spend with family and friends. You’ll feel like the things you’ve always wanted to do or have are within reach.
People who are in control of their finances
are people who can account for their
money. They plan ahead for needed cash,
and they reserve money for foreseen as well as unforeseen circumstanc- es. They organize their finances in much the same way that businesses do their financial planning. Far too many families live paycheck to paycheck without any plan. One of the greatest benefits of a budget is not financial. It is emotional. There is an enormous psychological lift given to those who think through their financial needs and establish a budget to get where they want to go.
A budget doesn’t mean you have to stop doing the things you like to do. It might for a little while, but as you manage your money better, you will find you actually have more money available to do the things you want. Managing money is like managing anything else. There
I believe in looking reality straight in the eye and denying it.
—Garrison Keillor
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