Is your budget working for you?

Is it helping you achieve your financial goals?

A budget is an essential tool in the journey of achieving financial freedom.  It is meant to be structured but fluid and is the roadmap from your financial goals to achievement.   It  is definitely not supposed to be restrictive but is designed to allow you to be in control and in the drivers seat when it comes to your finances. With all that a budget offers, I often wonder why and how people operate without one.  In my experience, people get frustrated with and tend to abandon budgets when they aren’t producing the intended results in the timeframe they desire.

One thing life has taught me thus far is that if something isn’t working you have to adjust and take a different approach.  Continuing to do the same thing the same way will always produce the same result.  This is also true when it comes to budgeting, if its not working then you are wasting time and its time to adjust.   Abandoning your budget should never be an  option.  It should always be a part of your financial plan, but keep in mind it will change as your goals shift and/or life circumstances change.  Your budget at 20, generally speaking, will not be the same budget at 30 or 40.

So if you are ready to stop leaving your finances to chance and ready to continue to move towards your goals, here are 5 ways to make your budget work for you:

• Create a budget that aligns with YOUR financial goals.  Stay in your lane, don’t focus on the goals of others.

• Shift your money MINDSET from negative to positive.  Instead of always thinking in lack, think in abundance.

• Set a portion of your budget as FLEXIBLE.  Flexible items include- eating out, groceries, entertainment etc.  The idea here is to decide each pay period how you are going to use your flexible money.  Are you going to eat out or cook?

• Review MONTHLY for any necessary adjustments.  I have a money date scheduled on my calendar so that I can make sure I stay on track.

• Keep your eyes on the end GOAL. Create a visual of your goals and put it in a place where you can see it everyday.

Grab a copy of my FREE Annual Budget Template to get a full year view that will keep you in control of your money all year long.