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Will a budget only bring bad news?

I keep hearing about the importance of doing a budget but I just don’t know how to start. It seems so boring and it will only tell me bad news I don’t really want to see. Can you help?

I will start with the boring part of the answer first. For a budget document you can use to deconstruct your income and spending life – that’s what a budget does – go to the website and find the section that deals with budgets.

Forget about the bad news, it might show because it will be your map out of financial chaos and a one-way ticket to the poor house, which, I bet, you currently have in your possession.

The budget simply tells you what you are doing right and wrong. The goal is to eliminate the wrongs and build up the rights. Once you confront where you’re wasting your money, you make a promise to spend smarter, spend less and save more.

You set yourself a simple goal and link it to something responsible and enjoyable. If buying a house is it, well, do that. If it’s saving for a holiday rather than tripping off on a credit card, then do that.

You have made yourself a habitual spender and that’s why you’re going backwards. Go forward. Confront the truth and when you are saving and seeing yourself take off, contact me again and I’ll help you draw up a flying high plan.

Good luck. Remember this, if nothing changes, nothing changes!

Book a complimentary first appointment with Switzer Financial Services today.

Important information:This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.


Published on: Tuesday, December 01, 2009

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