What's So Hard About Budgeting?

Before we discuss the so-called "difficulties" of budgeting, let’s first define what a budget is. A budget is a systematic plan (not an imposing burden) for the expenditure of money. It’s the total sum of money allocated for a particular purpose or period of time. It’s an itemized (broken down) summary of estimated or intended expenditures (your monthly bills) for the specified period (i.e. month, quarter, year). Bottom line, a budget tells you what you can and cannot do, financially. This is where I think the difficulties begin. You see, truth is, a budget sets up boundaries, it sets limitations and guidelines, and its mission is to control spending.  Truth is, most adults don’t want to be controlled when it comes to spending their own money. Heck, why do you think advertisers spend billions of dollars on assisting people in becoming totally confused about their wants versus their needs. Advertisers want you to “think” that you’re in control when you actually aren't; it’s called “emotional buying”. They make you “feel” like you need something when you don’t. So, control is one factor. Another problem with a budget is, it forces you to look at reality. Believe it or not, facing reality isn’t a top priority for most folks, why do you think so many people abuse drugs and alcohol? Yes, they abuse these substances to escape reality. In order to really set up a budget, you have to come and clean and face the truth. You have to stand up and look in the mirror and say to yourself “I am an alcoholic”…Oops, I mean, “I need a budget”! Heck, most folks would rather die, than face the truth. Look what’s happening in Washington; both the Democrats and the Republicans are lying through their teeth. If you listen to them, America can’t afford nothing, (health care or jobs) nothing at all, unless maybe if you mention the word “war”. America is always willing, ready and able to spend billions on a war. Another reason why people find it difficult to set up and maintain a budget is, it helps you, not only track where you’re spending your money, but how much money you’re spending on items as well. It tells you that if you’re earning $40,000 per year in salary and your mortgage is $2,000 per month, you’re spending sixty percent (60% of $40,000=$24,000) of your income on your mortgage, therefore, alarming you that your payments are too high for your level of income. Again, most people don’t want to face the truth. It’s reminds me of the guy who claims to be playing cards every Friday night, all night until the next morning. His good wife never questions him but, trust me, she knows there’s a good chance he’s out with “Juicy Lucy”. Again, most of us have a problem with facing the truth. A budget lets you know when it’s time to get a job (or second job) or increase the price for whatever goods or services you provide. Bottom line, a budget tells you the truth. Men lie, women lie, but the numbers tell the truth. Did you know, a recent report just released said, 86% of all luxury cars were purchase by people whose net worth’s were less than $1 million dollars. Wow!  This report shows that a lot of people aren't budgeting properly. As you can see, adhering to a budget is serious business, it take self discipline and will power in order to make it work. Over the years, I have heard many people say that they wish they could save and invest more money, but according to universal law, before you are blessed with more, you must show how well you manage little. We all get what we deserve, nothing more, and nothing less. Get a budget. For those of you who are in town, on February 10^th 2010, the Rev. Dr. Mary Tumpkin and I will be conducting a FREE class on budgeting. I will be presenting from a financial point of view and the Rev. Dr. will be presenting from a spiritual point of view. Please come and bring a friend and join us at 7pm sharp (the class is one hour).

The class will be held at The Universal Truth Center located at 21310 NW 37^th Ave in Miami Gardens.

"The amount of money you have has got nothing to do with what you earn. People earning a million dollars a year can have no money and people earning $35,000 a year can be quite well off. It’s not what you earn, it’s what you spend."-Paul Clitheroe

"Today, there are three kinds of people: the haves, the have-nots, and the have-not-paid-for-what-they-haves" -

Earl Wilson