For quite some time, I was pretty uninvolved when it came to finances. If I needed to buy something, I just pulled out the cash and wallah! it was done. If I desired something I couldn’t afford, I’d forcibly buy whatever it was anyway just to tell myself I could do it and would try not to beat myself up that it would take months before I could recover from that “hit” on my wallet.
Somethings are common sense, and apparently I lacked some of it when it came to my personal finances. That all changed when I met this lovely lady who helped me see the beauty of “budgeting”. I’ve honestly still had some pretty good struggles with maintaining one, but it has really helped reveal some inconsistencies in my spending, some hidden cash for things I desired that wouldn’t hurt my pockets and even more.
Having a budget is really important to managing one’s bills, capitalizing on weekly spending, investing (whether small time or big time), making ends meet and everything else down to having a nice beer when you’re in the mood for it. 🙂 Leveraging cash versus credit card is a big learning curve because of the beliefs and thoughts around them today. It’s easy to swipe a card and forget about it. Many people, myself included, felt that swiping the card bought me time. In reality, it was costing me more money than I could afford.
I’ve now got a running budget that lets me see what and where I spend my money, how much debt I’m in for and exactly how much cash I have around for anything else. I’m still working on rationing “emergency” money and trying to automate other bills. But, what I’ve learned is, what works for one person, won’t always work for the next. You have to customize your budget and spending to your liking but the end result has to work for you. It takes time, so patience is definitely a virtue here.