Most people believe a lie about why their budget doesn’t work. It’s a sinister deceitful lie. Ready for it? Here it is:
“I just need to make more money to make my budget work.”
Of course, having more money sounds phenomenal. Given the opportunity, all of us would sign up for more income. However, more income is rarely the issue with a person’s budget. On the contrary, it’s the way they manage their outgo.
But we still like to believe that the problem is our income. It’s sinister and deceitful because it allows us to take a “victim status.” If our problem is income, the solution becomes someone else’s responsibility. It’s our bad boss’s fault. It’s our spouse’s shortcoming. It’s the mean company’s greediness. It’s the rich people’s insensitivity. It’s the government’s failure to protect the “little guy.”
However, if we were to take full responsibility for the the outgo by preparing a budget and (gasp!) follow it, denying ourselves some immediate gratification, and working more diligently to maximize every single dollar, we might just discover our income has been sufficient all along.
And by saving and investing every time we are paid, we will see our income increase over time through the power of compound interest.
Don’t believe the lie.
Get started with one of our FREE BUDGET TOOLS and put together a plan that allows you to prosper with your current income.