Does the Word “Budget” Make You Cringe? 8 Reasons it Shouldn’t!

There are a lot of personal finance terms that might haunt you and make your hairs stick up when you hear them. Heck, the term ‘personal finance’ itself might be enough to scare you away! But there are so many reasons why you shouldn’t be afraid of personal finance. It can be fun, easy, and rewarding!

Tools like our Life Dreams planning tool are easy ways to help you determine your cash power and overall financial health. We even will include outside economic factors that can impact your finances. One of the benefits of creating a financial plan is budgeting!

Budgeting allows you to determine where you will spend you money and how you can save money to achieve your dreams! MSN Money recently wrote about “8 ways to make a budget your buddy.” I thought their tips were really great. Here’s the top 3 problems that MSN says people have that prevents them from being solid budgeteers.

1. You have the wrong impression.В What you may need before you even get started is an attitude adjustment. Budgets aren’t straitjackets to keep you from spending your hard-earned money. Rather, they are the key to financial freedom, ensuring you have enough money to spend on what you want.

2. You’ve been trying to fit into someone else’s shoes.You know that scene in “Cinderella” when the stepsisters try to cram their feet into the impossibly tiny glass slipper? Trying to squeeze your spending personality into someone else’s spending plan could hurt just as badly.В 

3. You’re making this harder than it needs to be.В The key to a successful budget is to keep it simple. Don’t get me wrong: Building and maintaining a budget requires effort. But take it one step at a time.

Don’t miss the rest, visit MSN Money’s 8 ways to make a budget your buddy. And while you’re at it, don’t miss the opportunity to be one of the first to try out Life Dreams planning tool. You can sign up on our homepage!

-Elizabeth