I love budgeting. I budget for myself, my family, coworkers, and friends. Honestly, if I could make a living out of just budgeting, that is what I would choose to do. There is a lot of hard work that goes along with it. You have to think about the difference between what you want and what you need. There are a few steps to get both though if you are willing to work to get them in the future and not right away. How do I Keep my bills paid on time?
1. I have never been late on a bill in my life. I split every bill in half with my corresponding checks and put that half of the bill in a safe spot.
2. Even if it is only $5, $10 or $20, I always put something away so I am able to build a savings and have an emergency fund set aside.
3. If there is something I want and it isn’t something I need out of immediate necessity, I put a little money away every payday instead of just going out and buying it. This way I am not kissing my bills goodbye and am managing my money wisely.
4. I never stray from my budget. The only time I ever would do this is if it was a life or death situation and I would probably have to think about it for a minute.
I don’t always have a lot of money left after bills and necessities are paid. However, what little I do have left always go right into a savings account or hiding place. I do this so when there is an emergency, I don’t have to worry about breaking my budget to have the money I need for the situation.
Knowing when something is necessary and when it is just a want can be hard. Sometimes there is a very fine line between the two and you have to use your better judgment to decide what you need to do. In my situation, I would just put a little bit of money away each payday until I have enough money I need for the wanted item. By this I mean, I want a new phone and it is going to cost me $99 to buy plus tax. I would start putting $10 to $20 every payday in a spot just for the phone. When I have the $99 saved I get the phone the following payday so I have enough extra money to pay for tax on it.
And last but not least, I never ever, under any circumstance, stray from my budget. I say this seriously. There are many people who create a budget and just won’t stick to it and then wonder why their budget didn’t work. The hard truth is because they wouldn’t stick to it causing them to see how much money they really lose every month just by straying from the budget.
If you can follow these few steps there is no reason why you couldn’t be debt free in a short amount of time. If anything, consider trying it to see how it works for you. Just remember, be strict on yourself to follow every aspect of the budget!