Regardless of your income and expenses and your overall personal financial situation, you need to make a budget.
Everyone needs a budget. Rich people. Poor people. Broke teenagers. If you have any money to your name, you need to know how you’re going to spend it.
A lot of people are intimidated by budgets because they seem too controlling or nerdy. But a budget is nothing more than a game plan for your money. It helps you to think your spending through beforehand and allows you to see the bigger picture.
Get this…over half of all millionaires use a budget while only 10% of all people use one! Think about that. You would think that millionaires have enough money that they don’t have to watch every dime they spend and can afford to blow some money here and there. And yet they still stick to a budget.
Here’s the way I see it. If I want to be a good parent, I’m going to find out what good parents do. I’m not interested in talking to the dead beat parent…no thanks, I’ll pass. In the same way, if I want to be successful with money, I want to know what millionaires do. And for the most part, they live on a budget.
If you don’t develop the habit of using a budget now while you make $100 per week, you’ll never use it when you’re making $10,000 per week (remember me when you’re making bank!)
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