Budgetting may seem simple enough but it’s an ongoing test of your resolve, your strength of character and the values that define who you are. With that in mind, I have here four principles to help you create that spending plan evaluate your choices and cultivate a financially balanced life.
- Question everything you want: Each time you’re thinking about buying something, start a discussion with yourself. Why do I want this thing? Will it make my life better? What will it do for me? Is it big enough to justify the price? Take for example, jewelery. Observe critically what makes you tick and then do a reality check. Make a list of your yearly and monthly expenses, highlight and mark out what absolutely must be and what is optional and select the more realistic ones. Do the calculations and ensure those expenses doesn’t add up to more than your income, else, you are in for a financial drain. Check if you can reduce how much you spend on housing and clothing as well as entertainment. It’ll be a good step to get a roomate to share the rent. That’s one of the ways to get a balance budget.
- Value Strong Relationships: What kind of people do you want to surround yourself with? It’s vital to surround yourself with reliable people who respect who you are and care about you in and out. Do not hesitate to move far away from people who make you feel less of yourself.
- Look forward: Decide how much you want to set aside for some essential things in the future. Things that matters! Your 5, 10, 20 or 30 years projection. What vision do you have especially the important ones. Nevertheless, even if you don’t have anything in plan at the moment, you’ve got to set some money aside as savings.
- Know your place in the world: Our lives are shaped by our choices especially the collective economic choices. They have a ripple effect that touches people and places a world away. Appreciate what you have, and clarify what’s most important to you. Learn from history, especially about resourcefulness and tenacity when it comes to “do it yourself ethics”. Hard work pays, it doesn’t kills, therefore take pride in it knowing fully well that you could survive hardship in case things fall apart.
To crown it all, educate yourself about poverty. Learn about those things that make the rich get richer and the poor gets poorer.
Save yourself first through your spendings, so as to make your spendings save the world.
Sure this article helps!