Creating a Simple Monthly Budget
According to Gallup’s annual Economy and Personal Finance survey, conducted in April of 2013, over 60% of Americans do not have a written or computerized budget for their personal finances. SIXTY PERCENT!!! At first I was astounded, that is, until I reflected upon my own finances. After looking back on the years when we accumulated excess consumer debt, I realized it was directly correlated with NOT PLANNING (or maybe even not USING THE PLAN). Although, by nature, I am a planner, there were months, particularly after having kids, when we just needed diapers, milk, or even medicine, and the diapers, milk and medicine just kept accumulating on our credit cards. Due to exhaustion, sleep deprivation and the newness of being a parent, going over a budget was just not at the top of my list. As a result, we paid for the poor financial choices we made. Thankfully, we have since acknowledged our damaging decisions and over the last few years have gotten back on track. But it was not without significant loss to our personal finances.
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I have now come to understand, at the end of the day, if you do not take control of your finances (no matter how sleep deprived you are), it will take control of you.
