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Personal budgets deserve a second chance
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It may be time to revisit the budget
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Many years ago in Junior High we learned about personal budgets and how the "responsible adult" always makes - and sticks to - a household budget. In practice, the chore seemed to outweigh the benefit and really resulted in nothing more than balancing your checkbook could accomplish.
But now, many years later, the economic situation, skyrocketing bank fees, and pinched household income are revitalizing the allure of a budget. With today's easy-to-use and free software [see above], it's not the daunting task it once seemed. And in practice, the household budget accomplishes more than simply telling us where and when to spend our money. The big benefit of a budget today is the peace of mind - or if you prefer, lack of stress - that a budget offers.
Do you know what's worse than finishing your monthly bills and realizing there's only $112 "left over" for the whole month? Receiving an overdraft notice on the 25th of the month because you didn't know where you stood. A budget won't put extra money in your pocket, but it very well may keep some of your money there.
Knowledge really is power, and that is exactly what a budget offers...knowledge. Often times knowing where you stand throughout the month offers the "spending guidance" that both prevents money-mishaps and empowers you to spend accordingly. There is a quiet comfort that comes from knowing that, while there may not be enough money at the end of the month, at least your household budget has provided you with the tools to spend within your limits.
So browse the software or pull out old fashioned pen-and-paper. Commit a little time to revisiting the concept of a budget and see if that reassurance creates some rewarding peace of mind.
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