5 Reasons Why Financial Freedom Is Not In The Cards For You
Financial freedom – a term that is often thrown around. But, really, what does it mean to be financially free?
Well, it’s actually pretty simple. To have financial freedom, you must make enough money to pay for your expenses.
But, are you constantly wondering where all your money goes? Or why you can never seem to afford your bills?
And, ugh! If ONLY you could save enough for those new shoes!
Well, the issue holding you back from financial freedom may be simpler to fix than you think.
I’m sure you make plenty of money – it’s where your money is going each month that is the real issue.
And if you’re not sure where all your money goes each month, then that’s an even huger issue!
Wanna know the secret to being able to afford your bills?
A BUDGET SYSTEM!
Budget systems are SO necessary to grow your wealth and become financially free.
1. BECAUSE WITHOUT A BUDGET SYSTEM, YOU’RE PLAYING A GUESSING GAME
You know what’s worse than never having any money?
Never knowing how much money you DO have.
I mean, how do you pay your bills, buy your groceries, and have money for fun if you don’t know how much money you ever have at any given time?
When friends come to me with help on budgeting, the first question I always ask is, “how much money do you earn and spend each month?”
And, 9 times out of 10, their answer is, “I dunno.”
Queue the blank stares!
‘Cause if you don’t know, then you’re guessing.
And if you’re guessing about your personal finances, then chances are – YOU’RE WASTING MONEY. A lot of money.
Now, nobody wants to waste money and creating a budget will save you from doing that by helping you track your income.
That way, you know how much money should be in your bank account, making it easy to decide if you can afford something additional to your bills, or not.
2. BUDGETING HELPS YOU SAVE MAD CASH
There are so many reasons to save money.
For emergencies, for vacations, for retirement, and most importantly, to gain financial freedom.
But, how easy is it to save money for all these important things if your budget (or lack thereof) isn’t helping you do so?
Psh, I don’t know about you, but I don’t want to get to retirement age and not have enough money to actually retire!
Having a budget will help you easily save the money that you would otherwise be wasting if you didn’t have a budget.
When you see your flow of income, it is simple to redirect the money you waste on coffee, entertainment, etc., to a savings account.
That way, it is out of sight and out of mind.
Just sit back and watch it grow!
Even if it is slow growing, something is always better than nothing.
Must read: How to Budget So You Can Save Time And Money
3. YOU’LL BE ABLE TO STRATEGICALLY SPEND THAT HARD EARNED CASH ON WHAT YOU REALLY WANT
If you don’t have a budget, you’re probably spending a lot of money on unnecessary stuff, even if you don’t realize it.
I mean, if your daily routine consists of a morning trip to Dunkin’ Donuts to grab a coffee and a bagel, you’re not going to think twice about spending that $5.
But! Think of how much money you’ll have if you strategically redirect it to purchase the new shoes you’ve been longing after.
If you find it difficult to afford the things you really want, try giving up the things that you don’t necessarily need – like coffee.
(Hot lemon water and an apple can give you just as much energy- without the crash.)
Recommended reading: How To Create A Morning Routine To Boost Your Energy
Buying coffee and bagels at the grocery store instead of at Dunkins will still give you your daily breakfast AND something else you’ve been wanting.
And, your breakfast is healthier this way, too.
So! Start tracking your income and expenses with your new budget so you can afford all aspects of your life.
4. A BUDGET SYSTEM WILL SAVE YOU SO. MUCH. TIME.
Before I had a budget, I would constantly analyze my families personal finances.
Anytime we had a bill to pay or wanted to eat out or go to a movie, I would have to calculate if we had enough money.
Not to mention time-consuming!
But, now that I have a kick-ass budget system, I NEVER have to spend time budgeting.
And I mean NEVER.
I always know how much money should be in my bank accounts, making it so simple to pay bills, save money, and have some fun.
Honestly, having a budget system (an automated one) has helped me save at least ten hours each month.
And the best part? It has 100% been the most important key to gaining financial freedom.
Now, we are able to easily afford all aspects of our lives because our budget forces us to.
5. YOU’LL NEVER MISS ANY FUNNY BUSINESS GOING ON IN YOUR ACCOUNTS WHEN YOU HAVE A BUDGET
It’s no secret that people’s bank account information gets hacked.
I know it’s happened to me.
And you know what saved me time and money? Quickly being able to recognize the weird transaction on my account.
Because, if you don’t budget your income and expenses, how would you know if there was any funny looking stuff in your account?
Or, by the time you noticed, they may have already drained your entire bank account.
Thankfully, though, due to my budget system, I was able to quickly contact my bank who disabled my account before the one weird charge turned into hundreds of charges.
Are you ready to transform your budget so you can be on your way to financial freedom?
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