Have you ever started a budget only to fall off the wagon later? Are you budgeting will improve your future?
Starting a budget is pretty straightforward. Maintaining that budget is another story.
I believe maintaining a budget is sometimes difficult because it's not always easy to see the long-term benefits.
But the long-term benefits are real – and I know several of them from experience.
When I started paying attention to our money and proactively purposing every dollar, I was able to accomplish some serious financial goals. And trust me, the longer you budget, the brighter your future looks.
Remember though, the future doesn't always look bright right away – and sometimes it doesn't for a few months or years.
And that, can get you depressed.
But take heart. There really is a brighter future ahead for those who stick with their budget.
Money fights happen. But they usually happen when a budget is nowhere to be found.
I have a few critical financial tips for married couples, and one of those is to start and maintain a budget. Get a central location to store your budget information like a budget planner. Here are many of the benefits of using a budget planner.
How will budgeting brighten your future? For starters, it will improve your chances of staying married. Now that's a huge deal, right?
On top of that, your marriage will grow in several ways by maintaining a budget:
There are also a whole host of subtle, less-obvious ways your marriage will grow because of budgeting. But to discover those, you'll have to try budgeting for yourselves.
This is one of those benefits I experienced firsthand.
The interesting thing about my life before budgeting was that I actually knew what was going on with my finances – but that doesn't mean I liked my situation. The problem was I didn't dislike it enough to stop going into more debt.
One day, I counted up everything I owed, and it was certainly overwhelming.
That's about the time I decided I needed to get going on the budget. And I learned how to stick with it, too.
If you're struggling with making your personal or business loan payments, credit card payments, mortgage payments, student loan payments, or just about any other type of payment, get on a budget.
Now, you might discover that you're spending more than you're taking in, but don't worry – a budget can help you get on the right track, even if it takes a while.
This one is a bit abstract, but stick with me.
Stress is a killer – but it kills you slowly.
When you're stressed out because you're not sure if you'll receive your next paycheck in time to pay the mortgage, you'll feel as though your very shelter is threatened. That's a pretty foundational need in Maslow's hierarchy of needs.
The result? Stress!
“Well, I can handle stress.”
You might be able to for a certain period of time, but do you realize the horrible symptoms?
Here are just a few of the symptoms of stress:
I can tell you from personal experience that budgeting lowers my stress. It's easier to sleep at night knowing that the numbers of our finances are under control.
Give it a shot. Start a budget. Relieve the stress that comes from financial chaos.
The great thing about budgeting is that is almost always helps you reduce your discretionary expenses. And what can you do with that extra money? Investing is one fantastic option.
As I showed in a previous article, the average age of death has generally gone up over time since the 1880s. While that's a wonderful development, it also means that you're going to have a longer retirement than many others before you – with or without the money you have or haven't invested.
A budget can radically change the quality of your retirement years through the inclusion of an investment funding budgeting category.
As you can see, budgeting truly results in some highly beneficial outcomes. Don't neglect this important part of your finances and start a budget today. You'll thank yourself down the road!