Here's some good news for those people who haven't been succesful with budgets in the past.
The reason your previous budget failed is probably not your fault. It is highly likely that the budget type you were using didn't fit either...
the way you see money (your financial personality) or
the way you spend money (the way your bank accounts are set up)
Your next budget can succeed IF you set it up to suit you!
Let's start by thinking about the way we look at money... DO you know someone who enjoys working out their budget? Do you know someone who feels best when they are out having fun? What about someone who is always busy doing projects or hobbies and doesn't have time for sorting their money?
Do these types of people sound familiar? Well it turns out that we all see money according to our personality. That makes sense really because we all know we are different whenit comes to our choice of food, holidays and clothing.
Here's the good bit. If we can know the strengths and weaknesses of our financial personality, then we can organise ourselves with a budget that uses our strengths and covers our weaknesses. In the same way that some people can look stunning in red clothes and others look terrible using the same colour.
This means that you need to discover your financial strengths before you start on your next budget.
The second great failure of most budgets is that they do not fit with the way we bank.
More good news... There are only three ways that you can spend money!
That sound amazing but think about it for a minute.
You can pay bills.
You can save or
You can spend money on Day-To-Day living
Since there are three ways to spend money then we need three separate bank accounts. Simply by paying all your bills from your "bill account" you will be able to separate the bills from the rest of your living.
When it comes to saving, well we often have too much else happening to get around to it. So here's a way that works! Look at your savings as if they were a bill. Have the bank automatically transfer money to your saving account each pay and sit back and atch the balance grow!
Which brings us to the Day-To-Day spending. Since the bills are gone, it becomes easy to budget what we have available.
So now you can start towards having a budget that you'll keep using.
Enjoy Your Money
The Budget Man
www.PersonalityBudgeting.com
Where you'll disscover your financial personality and how to budget.
