I got a new job and my income went up 38% several years ago. The increased payday felt huge, because nothing about my life setup really changed. I didn’t move into a fancy apartment or buy a new car.
But something subtle did change psychologically for me. I felt like I had more money so I spent a little bit more at restaurants and a little bit more on clothes. I figured I had a little extra money, might as well enjoy it.
When the credit card bill came, I found that my expenses increased right along with my income. Getting a raise was great, but it was so easy to spend the extra money. I hadn’t paid down student loan debt, saved any money, nor invested – all the things I’d imagined doing with the extra income.
Losing your job can be an emotional time.
Whether you get laid off or decide to leave, you may not be thinking straight.
It’s good to have a plan in place, or at least know where to find a plan (hint: this article) in the event that you do leave your job.
If you follow these 10 steps, the process will go much more smoothly…
Budgeting is weird, because almost every financial guru recommends doing it, and almost everyone who tries to do it struggles with it.
The truth is, there are a lot of things left unsaid when it comes to budgeting.
There’s a reason it doesn’t work…or doesn’t seem to work.
I’m going to explain how to actually budget effectively and cover some unanswered questions.
According to Professor Robert Mooradian of Northeastern University,
millions of Americans are dealing with the emotionally and physically taxing consequences of debt every year. We all want to make our financial goals, like getting out of debt, a reality, but few ever make it without changing their everyday habits.
Before we get into the list of habits that will change your financial goals and eventually your life, we need to get two basic concepts down:
This is going to be extremely straight-forward.
I’m going to give you each step to get your finances in order.
At the end of one hour, you’re going to have a complete overview of your financial situation and be setting goals.
You budget your money because it’s important to keep track of it.
You know the importance of tracking. You’ve seen how a dollar here and there can really add up.
What about your most important asset? Your time. It’s not replaceable like money. When it’s gone, it’s gone.
Do you know where your time is going as well as you know where your money is going? You’re about to.
Here’s how to budget your time like you budget your money…
So you’ve decided to start budgeting. Good. The first step to recovery is to admit there is a problem.
Honestly, creating your budget will be the easy part. As you sit down and assess all your numbers, you will begin to realize where you are wasting your hard earned money. A feeling of disgust will rush over you as you analyze each dime spent and recognize you could be saving a lot of money each month. If you only knew that all of the coffee stops and weekend adventures would eat away at your bank account. It is astonishing how much we continue to withhold our own financial information from ourselves.
Now you have decided to start a budget and take control of your finances. Frugal spending, wise saving and cutting back seems easy, and it can be. But just like any addiction or habit, controlling the emotional aspect can seem to be the biggest challenge. While you are budgeting you will be traveling a winding road of emotions. Some with the intention of derailing your budgeting efforts.
So let’s take a look at what you can expect emotionally while embarking on your budget expedition.
Who doesn’t like to travel?
Traveling is fun and exciting, but it can also be scary and overwhelming if you aren’t used to it. Especially when traveling internationally.
There are many things to know and this guide doesn’t cover everything, but it does show you the most important things that you need to know.
First, here’s what you need to do before you hit the road…or the sky…