Archives For Budgeting

How to Budget Like a Pro

Brent Pittman —  01/04/2012 — 20 Comments

Where is your money going?

I’m a professional at budgeting money, but I didn’t  start that way. There was trial and error along the way, but I now know how to budget like a pro. I’ve seen a LOT of budgets as my wife and I have been budgeting every month since 2007 and I’m also a financial coach. I can show you how to budget and have a little fun in the process.

This is a series of articles on budgeting that both the novice and veteran can benefit from. Happy budgetting!

I hope you are learning how to budget like a professional. My goal is for your relationships and finances to improve as you Learn How to Do Money Better! Please subscribe so you can stay informed of future articles.
(Photo by Images_of_Money)

 

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Objections to Budgeting

Brent Pittman —  01/04/2012 — 2 Comments

Are you afraid of what's under the bed?

We all have financial monsters under the bed. It is time to face our fears.

Do you have objections to budgeting money? Do you have fears concerning organizing your personal finances?

There are many reasons to avoid budgeting, but are they valid?

I Don’t Need a Budget

I bet a burrito you need a budget.

Budgeting Will Kill My Fun

Did you know that you can budget for fun? It’s true! You can add whatever you want as long as your income will support the spending (and your spouse agrees). So go ahead and put some fun money in the budget!

Budgeting Is Too Hard

While it does take a few months to get the hang of budgeting, the benefits will outweigh the sweat and time you put into the process. I’m also here to help if you have any questions. Contact me.

I’m Afraid of What I’ll Find

Are you afraid of what’s under the bed? If you never look then you’ll never be able to fight those money monsters. Take a peek and begin to tame that dragon.

I Don’t Want to be Put in a Box

When a plan exists for the money, then you have freedom to spend within that plan without guilt.

“With boundaries there is freedom”-D.P.

What other objections do you have about budgeting? Are you ready to stop living in fear? 

(Photo by The Midnight Blues Photography)

[This is part of my How to Budget Like a Pro blog Series]

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I Bet a Burrito You Need a Budget

Brent Pittman —  01/02/2012 — 5 Comments

I bet you a burrito...

Why budget?

It’s a new year and many of you are gearing up for changes. You might have even made resolutions or goals in the past few days.

I bet a burrito that your resolutions are somehow related to money, career, health, or relationships? Did I get it right? BURRITO for me! I was going to eat one either way. (Map to the nearest Chipotle Burrito)

Let’s talk money. If you are going to do money right, then you’re going to have to start budgeting.

I know that word makes you a bit queasy. There is a pill for that or an app for sure, but that’s for another post.

What is a Budget?

It’s very simple. A budget is a basic tool to tell your money whose pocket to go into. Should it go to your landlord, local barista (I prefer Peet’s if you are new here), local grocer etc. A budget pre-decides how your paycheck will be spent.

“That’s not fun!” “I don’t want to be put in a box.” you’re thinking. Well, you know what’s also not fun? I’ve made a list for your connivence.

10 Financial Situations that are Not Fun (Due to not Budgeting)

1. Those money fights with your spouse when bills are due.
2. Bouncing checks and paying bank fees with money you don’t have.
3. Having your debit/credit card rejected.
4. Loosing sleep because you are worried about money.
5. Not being able to make the mortgage or rent.
6. Having to work extra years because you didn’t budget enough for retirement.
7. Seeing the repo man drive off with your vehicle.
8. Telling your kids they are on their own for college funds.
9. Bill collectors calling about your unpaid credit cards or medical bills.
10. Still paying for Christmas gifts 6 months later.

Are you convinced you should budget? Are you going to make time each month to pre-decide where you money goes?

Action: If you are ready to start budgeting, start by writing your commitment in the comments below. Stay tuned and I’ll show you how to budget. 

(Photo by Lisa B.)

[This is part of my How to Budget Like a Pro blog Series]

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Santa Won’t Get You Out of Debt

Brent Pittman —  12/14/2011 — Leave a comment
Screaming Santa

Don't be left crying in January!

Many of you have finished your Christmas shopping, not me of course. That will have to wait till later. Some of you have already overspent more than your budget allows, haven’t you?

Don’t feel too bad. In the UK, 1 in 3 will go into debt this year due to Christmas spending, and 58% of that will be on credit cards. In the U.S. The average family will spend $646.00 on gifts this year (2011).

You even bought yourself a Christmas present too, didn’t you? I know you did, because that’s what Americans do. We buy stuff we don’t need with money we don’t have. Then we pay for it later, much later.

Santa will bring your kids gifts, but he won’t be around for the rest of year when the credit card statements start coming in January.

Let’s put this into numbers. Say you are average with buying $646.00 worth of Christmas gifts on credit cards at 14%. Your minimum payments will be $15 and it will take 61 months to be rid of that debt and you’ll pay an additional $256.74 in interest. Ho Ho Ho Merry Christmas!

Why not spend within your means for Christmas, so you won’t need debt coaching next year? The kids will just play with the boxes and wrapping paper anyway.

Better yet, try Advent Conspiracy and give relationally. Live a debt free Christmas

This year we are attempting to spend $167 on Christmas gifts. Why so little?

Well, that is what we saved up and we don’t want to spend our Emergency Fund or go into debt. I’ll post more on if we stayed in budget and how we did it for so little (don’t want to spoil any gifts).

(Photo by RaGardner4)

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How Much is Your Time Worth?

Brent Pittman —  11/21/2011 — 1 Comment

Defend your time with a plan!

Time. There is something about time that is both awesome and dreadful. Time is finite. Time is limiting and both freeing. Time is money. Time is is precious. Time is_____.

How much is your time worth? Every person on earth is given the same amount of time each year: 12 months, 365 days, 8760 hours, 525,600 minutes, 31,536,000 seconds. This is a lot of time to either invest or waste.

“We are salad people in the future and Cheetos people in the moment”- Chip and Dan Heath

I hope you invest your time in areas of your life that matter. Invest in your spiritual life, family, career, giving, and into your goals and dreams. Invest and plan your time or time will pass you by. We all know this in theory, but do we actually practice this belief?

Time. Have you ever wondered how some people are so successful? They spend their time wisely. They wake up early and go to bed late. Their hours are spent purposefully and on their daily goals. Those who are successful invest and budget their time.

Successful people also know how to say “NO”. This is also known as Time Management.

Do you ever wonder how your friend gets so much done? Are you in awe of them? You can accomplish the same amount since you’ve been given the same 24 hours.

What if someone did an audit on your daily schedule. Does your time reflect what your goals and values are?

If your goal is writing a book, how many hours a day do you spend writing? If your goal is being a great teacher, how many hours do you spend learning and teaching?

When my wife and I were both in graduate school, we had an excel sheet of our time and how almost every hour was to be spent. If we didn’t budget our time, then there were areas of our life that would be missing.

For example, we budgeted a date night each week and time to be together. We planned so I could see my wife without a book or computer screen between us. I value my family, so I budgeted time with her.

What do you value? How much could you accomplish if you budgeted you time?

(Photo by Alex Eylar)

In Budgeting, Goal Setting & Motivation
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