SERIES: Wagon Staplers – Part Two – Budget
In this series, I will be sharing some key wagon staplers – tools that I believe are essential to keeping one stapled to the wagon – because we all have the potential to fall off the wagon – these wagon staples’ will help keep you on the wagon even in your moments of weakness!
Part Two Have a budget AND follow it!
There is nothing more important to remaining on the wagon than to prepare a written plan for every single dollar you are expecting to receive. Whether you choose to plan your spending every week, once a month (my favorite!), or once per quarter – the importance of this activity simply can not be overstated!
I have discovered a key fact that the following formula is true for every single one of us:
INCOME – OUTGO = EXACTLY ZERO
Regardless of whether one earns $400/month or $40,000/month, you will not prosper if you spend more than you make.
The act of planning forces one to recognize that this fact is true and helps staple us to the wagon!
Application in my own life – I have prepared a written spending plan with my bride every single month since July 2003. I can not imagine operating my life without this plan. It has allowed me to fire myself from Corporate America and pursue this dream of helping others accomplish far more than they ever thought possible. It has brought a new level of unity to my marriage. Our planning has ensured that our children’s college is funded and that we will be able to retire well someday.
Helpful tools and resources
- We have some AWESOME & FREE budget tools located HERE.
- Book: I Was Broke. Now I’m Not. – my story and I teach the exact tools that my bride and I used!
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Re: a buget….. If you outgo exceedes your income then your upkeep will be your downfall.