Are You All Budgeted Out Yet? So by now I’m sure you’ve heard more than enough about the federal budget.No matter what any government puts forward for a budget plan we know others, especially the opposition, are going to pick fault with it. As far as a budget is concerned no one ever gets to create a budget that pleases …
Smarter Debt Reduction
Welcome to February! We’re currently looking at debt reduction. The problem with debt is that you’ve already had the excitement of spending the money; now you’re faced with the pain of paying for it! It’s hard to get excited about getting up in the morning and going to work to pay for a thrill you’ve already had! Last week I …
Where did all the money go?
Hi again, I was just looking through some of the notes I have been scribbling down over time and found this little gem: The largest amounts of money disappear on the smallest of purchases! I think most people would agree with this. How often have you vaporised a wallet or purse full of money and had nothing to show for …
Money Thought for Today
If your bank balance says there is a problem, the problem is NOT your bank balance! Trying to fix the bank balance will not solve the problem. You need to work out WHY the bank balance got to be that way in the first place! When you answer that question the bank balance will fix itself. Have a great week-end …
10 Reasons Why Budgets Fail Reason #10
10. No Co-Operation When two people live together but have different ideas on how money should be managed it is a recipe for disaster unless they can sit down together and acknowledge that they have different ideas and needs and they can come up with a compromise that allows each one to have at least some of what they need …
10 Reasons Why Budgets Fail Reason #9
9. Too Busy/Stressed to do a budget at all. If your budget takes so much time to maintain that it leaves you no time for relaxation then sooner or later you will abandon it. It is destined to fail. You need a system that takes just a few minutes a week. These days we all lead busy lives working hard …
10 Reasons Why Budgets Fail Reason #8
8. The Incomplete list There is nothing worse than thinking you have everything under control only to find out that you did not budget for something that has now popped up as a significant expense. During the time I went into people’s homes at night to do budget’s, I built up a large list of items that might need …
10 Reasons Why Budgets Fail – Reason #7
7. No way of measuring success. There is nothing more frustrating than worrying that you might be headed for money trouble but not really being sure if you are or not. In this situation, every financial decision you make has an element of fear and maybe even some guilt attached to it. People’s budgets fail them when they do not …
10 Reasons Why Budgets Fail – Reason #6
6. No system I call this the ‘out of control’ budget. We all know there are some things in life you have no control over but some people have not worked out that many expenses are predictable and controllable! If you have a forward looking plan to follow you are well placed to take control. If you are looking backwards …
10 Reasons Why Budgets Fail – Reason #5
5. Relying on Self Discipline Sucks Budgets that basically require you to ‘be good’ all the time and continually require you to make the right choices based on the use of self discipline are totally and absolutely dead in the water. This is the ‘no chance’ budget! It is usually the budget that is a knee jerk reaction to a …
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