Getting out of debt advice | Budget

 

Ever been broke before?

There is a definite discomfort in being broke and quite a relief in not.  The best advice to getting out of debt is first to know where your money is going.

Stop what you’re doing and consider what is important to you.

Having a clear focus on what is important to you can offer you inspiration to be disciplined.  You may be saying to yourself, I know how to budget.  Many people know how to budget and many people know how to lose weight however take a look around.  Do you see any overweight or broke people?  The objective is to live in realilty because if we don’t it will catch up to us and slap us around.  That won’t be fun.

Track your money

Before you can begin to budget you need to know where your money is going.  So let’s try an exercise for the next 30 – 90 days.  The longer you go the more fun this becomes or at the very least the more real it gets which can be really awesome.  On the left column write when and how much money comes into your household and on the right side write down when, where and how much you spent.

If you have a real big reason for sticking to a solid budget plan then at the end of each day subtract the money out from money in and see how much you can save in 30 days.  Hint: If you try this and you have $0 at the end of the month ….try harder next month.

After a couple of months of this you may have a few a-ha moments.  Something like… A-ha I knew I was spending all of my money at ……. Or wow … I need to make more money….

This is normal.

The first step is always the hardest.  You’re a champ!