Budget Adjustments: Living a Life of Surplus and Abundance

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How did you go with creating your budget? Seeing the current state of your finances can be an eye opener. Did you realize how much you’re bringing in and where it’s coming from, how much you’re spending and what you’re spending it on? When you see it in one lot it can be one big reality check. A budget is a starting point – now’s the time make some changes to improve your financial future.

If you’re on a fixed income or wage the bigger plan may be to upskill, seek promotion and increase your income through a work & career path, things that may not be in your immediate control.

Even if you’re on a fixed income there are a couple of things that are in your control.

  • One is a savings plan. The idea of saving what’s left doesn’t work for most people. Make saving a first step and spend what’s left over. You’ll be surprised that you’ll manage on what’s there. If you don’t see it you won’t spend it.
  • Open a separate bank account for savings that offer high interest and have penalties for withdrawals.
  • Set up automatic transfers. How much is up to you. Start small and increase it or set an amount and stick to it.
  • Watch it grow, there’s satisfaction in seeing the dollar amount increase.
  • Make an executive decision that it is not touched for unplanned spending.

budget-adjustment

The other area that is in your control is your expenses.

  • If you think you can’t manage on less then consider reviewing your loans and credit cards, insurances and utility bills, phone plans and the like.
  • Yes, it may take some time and negations and learning about the different options will likely see you save money which you can put towards paying down and paying out credit debt.
  • Get resourceful with how you do things.
  • Get creative, be original, learn new skills, and learn old skills like cooking, gardening, building, making what you need.
  • In the meantime do what you can with what you have and share your excitement at what you never thought you could.

Taking charge of your finances can be one big source of pride. And the start of bigger things.

Still daunted by the challenge? Contact me to see how working with a life coach can help you get started and take you there.