Budgeting that Works
By David Smyth
In working with client families, I have noticed that many of them cringe when they hear the word “budget.” Discussions about budgeting often induce frowns, complaints and excuses. Over the years, I’ve come to realize that this distaste for the topic is a result of a misunderstanding.
Many families see budgeting as a scary, restrictive chore, and have developed some false assumptions about what it means to create and follow one. These incorrect assumptions keep families from using budgeting as an effective tool.
Sometimes, families view a budget as something that dictates how they mustspend and save money. To these individuals, a budget is strict and rigid. Lifestyles must be altered to agree with the budget, and there’s certainly no room to splurge on something fun.
When families budget within this framework, they’re often unsuccessful. Budgeting is stressful and annoying, and folks end up giving up on any sort of attempt to set guidelines for their spending habits.
Because of this, we suggest a different take on budgeting–one that can actually work long-term.
At Family Financial Partners, we use budgets to show you how you’re currently spending your hard-earned money. It’s simply a way to see where your cash is going, and help you decide if it’s the best use of your income. From there, we can make decisions about how to better utilize your money in the future.
We know that, as your life changes, your budget will need to be flexible enough to adapt. We can help make sure your budget isn’t strict or rigid, but that it can become whatever you need it to be. Simply put, budgeting that works allows you to take control of your financial future. It creates a big picture of your overall spending patterns, and empowers you to make changes in order to meet your financial goals.
Budgeting doesn’t have to be scary or cumbersome. We can help you use it in a way that works. Give us a call to get started today.