Myth: I don't have time to work on a budget. Truth: You don't have time not to.
Budgeting
The dreaded "B" word. Budget. The only other word that starts with "B" that might generate a worse reaction in most people is the word bankruptcy.
Unfortunately, the word budget has gotten a bum rap. It is basically just a plan. When you budget, you're spending on paper, on purpose, before the month begins. But many people view a budget as a straight jacket that keeps them constrained. Freedom and budget just don't seem to go together.
However, when you see that a budget is just spending your money with intention, you'll actually experience more freedom than before. Many people say they've found even more money when they created a realistic budget and stuck with it.
Here's some helpful advice about budgeting:
1. Give it 3-4 months to start working. It won't be perfect the first time you do it.
2. Spend every dime on paper before the month begins.
3. Over-fund your groceries category. Most people underfund that category.
4. Husbands (if applicable) need to loosen up and quit using the budget as a whipping tool on their wives.
5. If married, spouses need to do the budget together. The preacher said "...and you are One."
For over 10 years, we've been teaching people how to get rid of debt, forever.
Testimonials
"You need to read the Total Money Makeover book, get on a written budget, and get 'gazelle intense' about getting out of debt. We paid off $22,000 in debt in 10 months on a $50,000 salary while raising 8 children. You just need a plan, not a quick fix!"
C.Davis - MyTMMO Member
Dave Ramsey is a personal money management expert, an extremely popular national radio personality and author of "The Total Money Makeover: A Proven Plan for Financial Fitness." Ramsey exemplifies his life's work of teaching others how to be financially responsible, so they can acquire enough wealth to take care of loved ones, live prosperously into old age, and give generously to others. This content is provided by DaveRamsey.com.
