The Dimension of Industry: Budgeting – Foundation to Finances

Money is one of the substances necessary in life. When one endeavors to build good habits around money, they build a healthy relationship with it. One foundational habit is the creation and following of a budget. Budgets are great stepping stones but can become serious stumbling blocks when not implemented – or done wrong. A few principles will help steer you in the right direction:

1) Have A Budget

First, start by just making one. Be converted to the idea of always having a budget to follow. Sometimes people fear the restrictiveness of budgets, but budgets aren’t made just to restrict but to empower.

2) Budgets are Fluid

Every month is different and is going to come with different demands on your finances. Some months will be more expensive because you have a dentist appointment, need to buy medicine, or went to a theme park with your family. Remember to adjust your budget month by month so you can do what needs to be done and still save money.

3) Save a Little For Yourself

In your budget, don’t be too hard on yourself. Don’t completely cut out things like going to a restaurant, buying a new outfit, or going on a date with a significant other. Use money for savings; use your funds for bills of course, but leave some of that hard earned cash to have fun, even if it is only a small amount each paycheck.

Budgets aren’t as painful as people make them out to be. They are the means by which you can build nest-eggs of savings, investments, pay what needs to be paid, and have a little extra to enjoy.

Check out these applicable dimensions to learn more about what your ultimate reality looks like:

INDUSTRY

SOCIAL

ACHIEVEMENT