Taking A Budget From Bad Word To Blessing, Part I

[Jenifer Madson]

I don't think there's a financial subject that people struggle with more than budgeting. Why to have one and how to have one are just two of the questions that people repeatedly ask. In Part I, we'll explore the why, what, and how of effective budgeting, to get you fully engaged with this essential tool.

The first element of budgeting success is the attitude you have about it. Simply put, if you think of a budget as a pain, as something boring, restrictive, or stressful, then how likely are you to show up for it?

On the other hand, if you choose a positive, empowering phrase or belief for it, wouldn't you be more likely to have one?

Take A Minute:
Write down three limiting beliefs you have about a budget.

Make A Minute:
Write the opposite, positive beliefs to the limiting ones you identified above. Keep doing this exercise until you find an attitude about budgets that motivates you to create one.

A budget for me used to be "a backward look at what went wrong." But long ago I decided to see it as "a forecast of my fabulous future." This outlook enables me to make my budget one of the great keys to my success.