Budgets: Are you a loser or saver?

I hate keeping budgets, they just don’t work for me.

Budgets don’t work.  There, I said it.  I’m Canada’s Money Coach, and budgets just don’t work. What they do is make you feel like a loser.

Here’s how:

First, set up a tight budget for yourself and then at the end of the month you add up all your receipts.  Later compare how much you spent with the budget. Oops, you spent more than you planned for.  You feel like a loser.

You can’t even follow a budget!

What happens when you are on a strict budget is similar to being on a strict diet.

Diets never work for me either, because when I denied myself a favourite food I wanted it more, then finally ate it.  A lot of it. It’s the same when you deny yourself a visit with a friend to have a coffee because you are on a ‘budget.’  Eventually you say, “that’s it, I need to enjoy life.”

Off you go … the budget is over and soon forgotten.

Lady looking at bank bood

There must be a better way to get control over money

You know that old expression if you want different results, you try different approaches?  Well try something new to get control over your money. Here are a few easy ways to help:

  • Use cash only.
  • Stop using your credit cards.
  • For monthly living expenses, put cash into different envelopes labeled with each expense and how much money you can spend. That’s all the money you have for the month.  Once it’s gone, it’s gone.
  • Don’t buy anything unless you have saved the money for it.
  • Save money for each goal you have, in separate bank accounts.

Finally, try it. Choose at least one.  Be a winner and take control of your money. I’m Judith Cane, Canada’s  Money Coach, I’ll help you get beyond budgets to really saving. 613-875-5834.

 

 

 

 

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  1. Pingback: Control, it's a good thing for your money - Money Coach Judith Cane

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