Have you ever wondered why, how, or when anyone ever gets around to budgeting? Well, my husband and I have now successfully budgeted for more than half a decade and we believe it is the biggest reason that we have been as successful in marriage and finances as we have. In this series, I will be covering not only why you should budget, but also how and when to budget. I know that this is a topic that isn’t always fun, but I think a necessary part of adulting.
A Three-Part Series-Part 3
Previously, we have talked about Why we budget and How we budget. Today, it’s time to talk about when we budget.
The When:
The short answer: We make time to get together before the 1st of each month or right after the month has started. Ideally, it would always be before the 1st, but in all honesty, life happens and we don’t always get it done. For us, it’s usually on a Sunday evening after our kids go to bed, as that’s when we have time.
The long answer: I am going to explore another side of when. Often, when I look around online I see that there is perception going on that one only budgets when you have very little. For example, try googling “meal plans on a budget,” those are usually on hardly any money or from people that are trying to get out of debt. That’s great! Those are the things that one needs to do in order to make ends meet or get out of debt. I remember thinking when I was a teenager and young adult, that if I had to budget, it showed that I didn’t have any money. This is a perception that is absolutely false.
I want to point something else out, “If you don’t have a plan for your money, no matter how large or small the amount may be, it will disappear.” I will be a bold as to say, that it doesn’t matter how much money you have or don’t have if you don’t budget it, it will all be gone. (One exception, are those natural savers who hardly spend a dime. They *might* be able to save without a budget, however, I say they are still better off with one)
I have often heard people lament, that if they only made more money at their job, they would be better off.
I beg to differ. Almost every person will instantly begin to spend more if they begin to make more, thus never really making their financial situation any better. Now I’m not trying to be rude, I recognize that there are some who are simply not making enough money to make ends meet at their job (s) and no amount of budgeting can help those situations. However, I believe that is a topic for another day. So, in answer to the question, “When should I budget?
1.You should budget for everyday life as well as vacations and anything else that life throws your way.
2. You should budget whether you are wealthy or poor or just in between.
I truly believe you will find that you can stretch your money a lot further by budgeting.
Thank you for your joining me for this series of budgeting. Hopefully, it was informative and helpful. Do you budget? When do you do it?
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