We all learned math at an early age, and the concept of keeping track of what money is coming in and what money is going out is strictly math. In finances, we all know that math is called a budget.
The written budget itself is simply adding and subtracting. FOLLOWING and LIVING on a budget is all about our actions and behaviors.
Following and living on a written budget takes discipline, self-control and practice.
The word discipline really means obeying something or someone. The act of wanting to obey boils down to knowing that if you obey, good results will happen. And knowing that if you don’t obey bad results will happen. There are consequences for every action – good consequences or bad consequences. This is what we are teaching our children as well when they are rewarded for good behavior and are punished for bad behavior.
As adults – our behaviors still bring about the same consequences. The difference is that as adults the bad consequences can be catastrophic and stressful and sometimes even life changing.
Good consequences can be life changing as well.
You will never accidentally fall out of debt, or build up your savings account or save for retirement.
But the good consequences of creating, following and living on a budget will do all of those things – give you the ability to get out of debt quicker, build up your savings account and save for the future.
Believing that living on a budget will bring about a positive change is the first step of the process. Once you truly believe it and practice it, self-control and discipline will follow.
Schedule a complimentary 1:1 consultation here to take the first step to financial control.