Many of us struggle with the urge to seek perfection in various aspects of our lives. Who doesn’t want to have the best career in a profession you are passionate about or achieve …
Many of us struggle with the urge to seek perfection in various aspects of our lives. Who doesn’t want to have the best career in a profession you are passionate about or achieve a perfect state of work-life balance? The problem with this search is that perfection itself can be elusive and is often just an illusion created in our minds.
Even the best-laid plans frequently go awry but that shouldn’t stop us from planning. In fact, a solid financial plan is capable of incorporating as many of life’s “what ifs” as possible and adapts to change.
No matter how difficult it may be to achieve perfection in our planning, there are still some important things we can do to avoid making big mistakes. Here are a few examples of financial choices that you could spend decades trying to recover from:
Trying to Float on Through Life Without a Budget
The term “budgeting” often leads to frustration and unrealistic expectations. So let’s give the budgeting process a more empowering name — it’s a “personal spending plan”. A personal spending plan provides awareness of where our money is going and helps us prioritize financial decisions. Budgeting is not just for those struggling to make ends meet. Everyone needs a personal spending plan and your plan needs to be more than just a loosely defined set of good intentions — your plan should always be written down.
Fortunately, these spending plans do not need to be perfect or overly complex. Your budget can be as simple or complicated as you want it to be. Remember to try and make saving money, paying bills, and paying off debt automatic.(more…)