🍃The Talk with Your Family About Avoiding Financial Waste
If you have a family, the first thing you need to do is to get them to understand how avoiding financial waste helps a tight budget. Then, discuss what it means to live on a super-tight budget.
Tell them they may not get many of the things they want, but they can get some.
A super tight budget is something that does not mean misery, it means you must be careful. This is a part of life, not bad, not good — just necessary to keep the budget moving in the right direction.
As a matter of fact, you can tell them, that because the cost of living is high, everyone, in every income bracket lives on a super tight budget.
🍃The Talk with Yourself if You Are Single And Budgeting on a Tight Budget
For ladies, stop waiting for prince charming. He does not exist. Sure, you have the chance of meeting a nice guy. But you will be better served in preparing yourself to take care of you, first.
If you happen to find a nice person you have a lot in common with, then you will be prepared for the relationship. Until then create your own super tight budget for success.
Budgeting when you are single will make it easier to budget when you are married. A tight budget is king and always will be for a low budget, great life. If you develop good habits now, you have a better chance of identifying a partner who does the same, before a permanent relationship.
No one thinks they will get divorced or separated after marriage, but many do. The number one reason divorce lawyers site as the reason for divorce is financial incompatibility.
That information was there at the beginning of the relationship, but either, they didn’t get to know each other long enough or well enough to see it. Figure out how you can live on a tight budget before a serious relationship and do not get involved unless your partner does also.
🍃Trim the Fat from Your Spending Budget
Start today, trimming the fat from your budget. You are an intelligent person. There are many places where you can trim fat from your budget. It requires that you be open and honest with yourself.
Take a deep dive into your spending habits and find where you can trim the fat from your budget without starving or not having enough gas or train fare to get to work.
Look in your closet and identify clothes or shoes you have not worn for months. Look in your cupboards and identify things you have not used for years.
These are all things you could have done without, or you can sell off to make money. It will also help you to identify how to trim the fat from your budget by not overspending in the future.
🍃Not All Good Things Are Good for You
There are many things that seem good for you, but if you cannot afford them, they may not be. A case in point; a great car, a comfortable dress, a new apartment – if they are not comfortably affordable – they are not good for you. Analyze everything you think you may need and may make your life better. The goods may make you feel better, but you must have the money.
Remember, when you analyze things you need to include all costs. For instance, car buying may include 1. Down payment, 2. Monthly payment 3. Gas cost, 4. Monthly, Quarterly, and Yearly maintenance, 5. Insurance, 6. Parking.
Where many people falter is when they leave out one of these costs when the affordability analysis is done. Because of these omissions, you can end up with a product you cannot afford. You can research mostly anything on google and ask for advice from family, friends, or professionals you know. Don’t rule
out a more affordable new used car or quality used car.
🍃Understanding Finances Is What Makes It All Work
Understanding finances is the key and the easier it will be to improve your finances. Because engaging yourself in understanding finances you can live within your means no matter what your income.
The less you make the more extreme you will have to get. I call it guerrilla budgeting. I am not saying that high-income people do not have financial problems, they do.
In fact, some multi-millionaires file bankruptcy because they are not careful, live far beyond their means, and do not engage in understanding finances through study.
While other multi-millionaires feel they must budget everything they buy and do to stay within a comfortable spending range. Understanding finances by constantly reading, studying, and monitoring their money is the key to their success. No one has an unlimited budget for spending money.
Believe half of what you see and none of what you hear, verifyLois Center-Shabazz
🍃You Can Change the Way You Think About Money
Old habits die hard. Becoming efficient in living within your means with a tight budget and avoiding financial waste is not easy. But you must change the way you think about money if you are having financial difficulties.
If you have a habit of money mismanagement and financial waste it is even harder. But, with that said, there is a lot of help, a mentor can change the way you think about money. It starts with buying the car you can afford, then buying the home or condo you can afford.
And then of course understanding comprehensive financial management is the major key to changing the way you think about money. There are many aspects to managing money and avoiding financial waste, even when your budget is tight.
When you analyze your current financial situation, you will find that there are many ways to save money by eliminating waste also. Avoiding financial waste is a major key to living on a tight budget with success.
🍃Do not Take Your Cues from Advertising Propaganda
One of the ways we get confused about buying habits is that we take our cues from the wrong places. This is where many overspenders make their mistake.
They feel they must have everything that is advertised. Advertisers sell a “feeling”, telling you this is how you will feel if you buy this product. Of course, the feeling is always, so-called, “good”.
Do not be confused, you will not feel good if you cannot afford the advertised product. In fact, you will probably feel bad at some point. Not all advertised products are bad, many in fact are good. The problem is the amount of information you get in a 30-second ad is not enough.
Do your research if you like a product you see in an ad. Find out if the product has quality, is within your budget, and does what it says. Most of all, ask yourself if you absolutely need and can afford the product.
Before You Buy Ask Yourself; Do I need this? Do I want this? Can I afford this? And will it last?Lois Center-Shabazz
🍃Finally, Put it Into Action with Help from an Expert
Get help before you need it, and your finances will be in the proper order. Everyone needs help when it comes to changing behaviors and identifying best practices for spending, saving, budgeting, investing, and wealth-building.
Do not feel that you are different. The most successful budgeting folks got help before becoming successful. You can get help too, that is where I come in, contact me now and we can talk about how best way you can be served. If you are anxious to get started, you can start here.
Old Habits Die Hard, Change Requires a Little WorkLois Center-Shabazz
🍃Buy Quality Products So Your Products Last
Do not get quality confused with cost. You do not have to spend a lot of money on products or services to get quality. But, if you do not want to replace your product or service often, you must buy quality. The more you replace products the more money you spend in the long run.
This is where products that appear inexpensive cost you more money than a good product. Your affordability index goes down over time due to wasted money. Purchasing the right way is another key to avoiding financial waste, living on a super tight budget, and understanding finances. You must change the way you think about money if you are going to be financially successful.