Page 12 - Book3E

Due to budgetary constraints, the light at the end of the tunnel will be turned off until further notice. —Anonymous
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will find that a big step in the right direction can be taken by thought- fully creating a budget that takes the needs and feelings of your loved ones into consideration.
A complete and realistic budget should include the following:
• A way to examine your past spending habits
• A way to reveal needed changes
• A way to measure your current progress
• A way to assess ongoing results
• A way to plan for the future
• A way to improve your decision making
Examine Your Past Spending Habits
When we make a commitment to control our spending and live by a budget, we often find that the hardest part of that commitment is eliminating our desire to buy things. The best way to fight that desire is to understand completely what buying does to our budget. While there are a variety of suggestions about the best way to develop a budget, everyone agrees on one thing—you have to start by tracking everything
you spend. You can’t track just some of the things. It has to be everything. You’ll need to track even the coins you put in the park- ing meter, every pack of gum, and every can of soda. It will be time consuming at first, but the knowledge you’ll gain by doing it will make it all worthwhile. It is impossible to develop a realistic budget or spending plan unless you understand all of
your monthly expenses. Too many things will go unaccounted for and you won’t be able to figure out why you come up short every month.
Don’t try to match your spending to your budget right away. The main concern is that you have a reliable record of all your household
A Rose, or a Budget, by Any Other Name