Having balance in life also means that finances are in order.  Reaching goals are accomplished by making a plan and then writing them down. The same is true with money and finances. Creating a budget helps to reach financial goals. How much money do you need to live each month? How much can you save in 4 weeks?  It takes several months to create a workable budget. This is normal.  Tracking spending, tweaking and readjusting is a process.  It is never too late to get started to create a budget.

What are some of your financial goals? Do you want to get out of debt, pay off student loans, survive the month, save for college, retire and travel? As with other areas of life, you are better able to reach your goals by being clear on what you want and concise on how you will get there. A budget is the tool that can help you reach financial fitness. Another tool is to look for a mentor who is financially stable.   Choose this mentor wisely from people you trust. Ask them questions and learn from them.   

I talk with many people who struggle living on the money they make.  They say they can’t save money or get ahead.  For the people who have done the hard work to create and live on a budget, having control of their finances can be significant.  Some have learned how much they spend stopping at Quik Trip, getting coffee at the fun coffee shop, buying online, eating out for lunch and/or dinner.  Their budget has helped them get control of their spending, live within their means, and put some money aside.

Here is a list of some benefits of creating a budget:

• Awareness of what you need on a monthly basis
• Understanding how you spend
• Having knowledge of where all your money is going
• Helping to pay off your debts
• Setting financial goals
• Creating family financial traditions
• Living within your means
• Teaching your children about finances

Budgeting is an ongoing process.  There are many free apps you can choose from.  Every Dollar by Dave Ramsey is an example.  Once you have created your budget, you are not finished.  The key is to review on a weekly or at least monthly bases.  Make changes, tweaks and cutbacks as needed.  Make shifts throughout the month.  Financial stability is the result of the money habits you create.