household and family budgets fail
attempts to follow a family or personal budget fail.
Despite all of the best intentions a household
budget is forgotten after the first weeks or months
after you first started it. Why does this happen?
What can you do to make sure that this doesn't happen
to you? After all, if you are able to create and follow
a personal budget, you can reach those financial goals
that you set for yourself and your family. You have
control of your financial life!
is a process that involves creating spending and savings
levels while living within the means of your income
level. You obviously don't want to spend more than
you make. You also don't want to spend the same amount
that you make because you are not setting aside anything
for your future by saving.
main reason a budget fails is because a budget imposes
a discipline upon your lifestyle.
most cases the results have negative connotations.
It may feel restrictive. Gone are the days of stopping
into the coffee shop on the way to work for a $3 coffee
or going out to dinner when you don't feel like cooking.
look at these budget "restrictions" as painful
you need to do is view these budgeting pains as pleasure
because you are following a plan that is allowing
you to get control of your life and reach your financial
goals. Each time you don't go to Starbuck's for that
cup of coffee, you are one step closer to owning that
dream house, saving for your children's college or
having a comfortable retirement.
reasons that family and personal budgets fail are: