How to Live Royally...On a Budget

Does that title sound contradictory to you? That you can live a great life on a budget? Many people won't believe it. After all, the word budget suggests a limited amount of funds because, if you had unlimited funds, you wouldn't need a budget, right? I can see the logic in that but let's look at budgets a different way.

 The majority of us live on a specific amount of money and that money has to cover the basics such as the roof over our heads, food, clothing, utilities and transportation as well as the extras like entertainment. Some people live their lives by spending everything they get when they get it then either suffering until the next pay period or living on credit to survive.  I've done that and it isn't fun - I was always waiting until the next time money came in and counting the days until I would again have money in my pocket. Instead of living each day to the fullest, finding joy in just being alive, I was wasting my life waiting for more money! Are you doing the same thing?

 If you are, now is the time to make changes. Now is the time to get control, get organized and to quit letting your life slip away. Now is the time to live royally and I want to show you how. It takes a little adjusting here and there but once you get into the 'swing of things' you'll find yourself living a better life without having to rely on credit to get what you want.


Sound good to you? I know that sounds good to me. So let's get started.

 Creating a budget isn't that difficult but it does take a little organization.

 First, figure out how much money you have coming in each month and when. Write all this down. If you get quarterly checks from the government, include that in the budget. Include all support payments as well as income.

 Now, if you are an hourly paid employee with varying hours, you may think setting a budget will be too difficult. But it isn't. Look at your past earnings and you can either average the amount or take the lowest level. Personally, I would lean towards the lowest level so that you don't overspend.


Next, look at your expenses. There are the fixed expenses such as rent, car payments, insurance etc and those are easy to keep track off. List those.

 Other expenses may take a bit more work. If you aren't sure where you are spending your money, record an estimation for now but keep track of every penny you spend for a period of time. A couple of weeks or maybe even a month. Keep track of how you are spending it as well. Are you using cash or credit? Keep an open mind, this is the just a fact finding mission not a time to critique yourself. That's the next step.

 Once you have figured out where your money is going, list that under expenses. Now comes the time of reckoning. Subtract your expenses from your income and see how much is left. If it is a negative balance, then you have to make adjustments. If it is a positive balance, great.

 How are you feeling seeing everything written down? Scared? Elated? Wondering how you are going to live royally now that you realize you don't have a lot of extra money.

 You live royally because you know where you are in your financial life. And that relieves a lot of stress. You are also paying off debt yet still enjoying your life. You know how much you spend and budget accordingly. Maybe you are even able to put some money away. Perhaps not a lot, but a little here and there.


Getting started on a budget is difficult but the hardest part is sticking to it. That's where I may be able to help.
If you feel that you are ready to gain control of your debt, then stop trying to figure it all out on your own and make sure you don’t go another year without gaining control —click here
 
I might be able to help you by supporting you through the 5-Step Financial Stability program that I have used to get control of my financial situation. click here

To your success, 

Karen Magill 

P.S. It is NOT right for everyone – but if you feel having me working with you almost “daily” & giving you a proven step by step system to follow will help you get your  finances and life back on track then for more details. - click here 

 


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