Interesting title for a Blog, huh when the person writing it is a self-confessed Budgeting expert! Well… allow me to explain myself… Please read on;

Years ago (before any of the fabulous technology that we have now), those of us that did a budget had it all written down in a text book somewhere, or on a scruffy, tatty piece of paper. It was just a list of what we wanted/needed to spend our money on. Generally, the costs were itemised and then the “grand total” was at the bottom; As long as we didn’t go over the total, then “Happy Days”…. Sound familiar?

My, how things have changed..…. we moved on to Excel Spreadsheets (for those of us ever clever enough to know how to use and program Excel) and some of us these days, even use a fancy App on our Phone to tell us where we are spending our money. All good systems but what they DO NOT tell you is, how much money you SHOULD have in your bank account moving forward, for you to be able to afford that lifestyle (that you love so much) not to mention all your financial commitments into the future.

Budgeting as a task (some would say mundane/boring/not necessary) is particularly difficult as we are living in the age where we are encouraged to get into debt (or for some of us, “even more debt” than we are already in)… Credit Cards, AfterPay, Buy Now/Pay Later, Interest Free credit… the list goes on. All those sparkly things we always dreamed of buying, but could never afford, are now even easier to get our hands on and so we can make them ours sooner rather than later. Instant gratification in abundance! Hurrah! What the Banks, Stores, Finance providers fail to remind us is that these things have to be paid for at some point!

For those of us that struggle making ends meet on a daily basis, or are fed up with “living pay to pay”, these enticing situations just make us feel even more inadequate or unable to reign in our spending, as we don’t know where to  stop! There are no boundaries because society tells us that we can have it all.. and then offers us it all!

What we all really need to do is look at what we NEED and what we WANT; and understand the difference. With a little bit of effort, we can prioritise our NEEDS and then hopefully have some spare cash for our WANTS…

Budgeting is a nasty word anyway. Research shows that it conjures up negative emotions and feelings of deprivation…. Pretty much like a diet. As soon as we go on a diet, we start craving all the things that we are not supposed to have…. Whereas when we eat in moderation and are allowed the fatty yummy stuff, on occasion… it doesn’t seem so bad after all! We can handle it.

Plus! As I write this, the Financial professionals of this great World we live in are warning us of banks tightening up, changes are happening, credit card payments are being looked at. I believe that the Banks are even looking at how much their customers are using Uber Eats! No-one can have any fun anymore, huh? Even for a loan you need to detail your regular/day to day living expenses and financial commitments….. The tatty piece of paper is really not a good look when you are applying for that loan…..

Now more than ever, we need a Spending Plan. A Spending Plan is like a Budget, but it tells you exactly where you are currently Spending your money… It also tells you exactly how much you need to have in your bank account for you to be able to afford all those expenses and commitments into the future. You tell it ALL of your expenses…. Right from whether you have one or two “shop bought” skinny cap or lattes each day, right through to all your regular bills and commitments, fun money and larger items – last time your tyres were changed on your car, etc, etc….. Once you have a Spending Plan set up, all you have to do, is live it. We all know things change, and there is always stuff cropping up out of the blue; well a Spending Plan takes care of all that too…. What’s not to love?

Acknowledging that Budgeting doesn’t work and that having a Spending Plan is the way forward, I can pretty much guarantee that you will destroy that text book and let go of that tatty bit of paper (yes, the one with all the crossings out, as times and amounts have changed)…. You won’t even need that trusted excel spreadsheet – and let’s face it, can anyone really program it properly anyway?

A Spending Plan proves why Budgeting Doesn’t work and demonstrates where you are now, and shows you exactly where you need to be going forward. You can see your financial future before you get there! Think about it…

For more information on Spending Planners, please see https://www.spendingplannersinstitute.com/ or if you like what I have written here, and can resonate with ANY of it whatsoever, give me a call on 0404 468 525, or check out my website at https://www.spendingmadeeasy.com.au/ (the testimonials speak for themselves).

What are you waiting for? I make “Spending” EASY!!!