Budgeting. Boy, if there was ever a dirtier word!! Some people like to budget, but a lot more don’t. It’s a chore! I’m a financial coach teaching others how to budget and helping them adjust their behavior where money is concerned. BUT…, I HATE, HATE, HATE having our monthly family budget meeting. Thank God I married a nerd who doesn’t mind putting it on paper before we discuss the upcoming month. Notice I said, “doesn’t mind.” I did not say “like.”
So why do we do it? Why do we put ourselves through that torture every month? The most straightforward answer is for peace of mind. Most people see a budget as a prison. They see it as a list of all the stuff you can’t buy and all the fun you can’t have. The reality of it is the exact opposite!
First, let’s change the word “budget” to “spending plan.” It’s a plan for what your money should do that month. AND part of that plan includes what I call a “blow fund.” Let’s face it, we all blow money. Just plan for it. Your blow fund may be higher or lower depending on your bills and income. Doesn’t matter. Just put it in your spending plan. Let’s say you budget $50 per month in your blow fund. This is $50 in your pocket that you can spend on whatever you want; GUILT FREE!!!
Simply put, you give every dollar you bring into your home a job to do. Some dollars have the job of putting gas into your car. Some dollars have the job of paying rent or utilities. Some dollars have the job of buying food. And some dollars have the job of making you happy by allowing you to buy that candy bar without any financial guilt.
The Creating a Budget module is FREE for everyone and anyone to view. You can access the curriculum guide, the PowerPoint presentation with speaker notes, & the module video. You and your students will find it one of the most valuable trainings you will ever get! Take advantage of this educational material.