Success and Failure Blog

Reasons to Start a Personal Budget

We explore how a personal budget plan makes setting financial goals obtainable.  First, write down a paragraph or list of where you would like to see yourself five, ten, fifteen, or even twenty years from now.   Make this list financial, spiritual, career wise, etc.  Pour your heart out and write your true desires and passions.

Next, clearly see where are you are right now; time for some honest introspection.  Do your finances support your goals?  Look at what your earnings are in comparison to your spending.  Similar to starting a business, you need to consider all of the variables.

These variables include things such as what you spend the most money on, what expenses you can easily cut back, and what expenses are unavoidable.  Take a look at your checkbook.  There you will be able to see what you have spent your money on over the last several months.  Go back as far as a year if you can.  Some of the things you are writing checks for might surprise you.  How many of them were actual necessities, and how many could you have easily done without?  Without realizing it, you have now begun making a budget.

A key to success is in the Proverbs 21:5 admonition that, The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty.

Next, think over your cash expenditures.  We usually spend a lot of cash on the “little” things.  Write down the items you can clearly recall spending cash on recently.  Are these repetitive items?  Do you purchase them every day?  Every week?  Add them together over the course of a month.  How much of this money could you save, or use to pay down credit card debt, or apply against the principal of your mortgage?  Can you now start to see your personal budget plan coming together?

Saving money alone does not equal happiness.  How does a life free of worry about paying bills and making ends meet sound?  Peace of mind is priceless.  What about being able to be financially free to go where God has given you passion for?  If you are encumbered by debt, you will not be free to serve at full capacity.

Your personal budget plan will help you to spend less than you earn, creating positive cash flow for you to save and to apply to meeting financial obligations such as paying off a car or house faster than you thought possible.

The best part is that it will not take long.  As soon as you begin the initial phase of your personal budget plan, you will be spending less, saving more, and setting financial goals almost immediately.  The achievement process takes time, but you will experience it step by step.  You will have a clear idea as to how you are getting ahead, even before you fully reach your goals.

Get started creating a personal budget now as you are setting financial goals that will lead surely to advantage.

What do you think?  Leave me a reply.

How to prepare for success!

Be Teachable – Become the best at what you’re doing.  Learn everything you can about your industry, business opportunity, marketing and more.   You need to invest time to learn about your business, marketing and more…every day.  25% of your time should be spent on training.   Make sure you learn one thing at a time.  See my blog about Marketing Paralysis.

Work On Your Attitude – This actually takes work.  You are what you read they say…or garbage in garbage out.  What do they mean?  Our minds are amazing.  You can literally change your outlook on life and how you feel about life in general by changing your thoughts, reading good books (like the magic of thinking big, the bible and other books like it) ,working on your self affirmations , etc which will help you become a better you.  Check out some sections on my other website that talks about “succeeding in your home based business” and an area called “personal development“.

Set Goals – Setting goals is key to success.  We all need direction…a plan of attack as they say.   Some people are afraid to set goals because they are afraid of failure.   The key is to set small goals that are stepping stones.  Making a single call might be a goal at the beginning if you’re afraid of the phone.   If you don’t like reading, you should make it a goal to just read one page or one chapter per day…you’ll see, it wil get easier and easier.  Achieving big goals is just the result of achieving many little goals.   Just take it one step at a time.  Check out my article on goal setting and my video on goal setting.

Work Hard – Success takes hard work.  Make no mistake, there is no easy way to success…I wish, but there is not.  If someone tells you their business opportunity is easy…run.

Be Consistent – I know a lot of people that work hard but they are very inconsistent.  Especially, if you’re working on your dream part time, you need to set specific days and specific hours aside each week to build your brick and mortar or home business.

Pray – My personal key to success is to pray like it’s up to God and work like it’s up to me.  This last component to success in my life ( I believe it was the most important component of all) was my relationship with God.  I know that without him I would have not had the success I had.   Am I saying that one cannot have success without God…of course not.   There are lots of people who are successful who don’t really know or care about God…and that’s a shame and really their loss.  Some people think that they would have to give up their success if they wanted God in their life…that’s just a BIG lie.  God lets you enjoy your success, adding joy, peace, love, good health and more.
That’s True Success!