Let’s see if you have a negative or a positive attitude....
If you think that....(-)---try to think instead that.... (+) Budgeting is boringBudgeting can improve my life You need to be a whiz with figuresBudgeting is more than adding up figures It will cut down on what I can doI will spend on those things that matter the most I don’t earn enough to botherIt will help me make the most of my money I’m afraid of finding out where my money goesWith a budget, I control the choices I make I’m afraid that it will depress me even moreI will be able to see the light at the end of the tunnel I’m going to have to stop spoiling myselfI will spoil myself...within my means It’s long and tediousMy budget will be simple and easy to keep track of I’m going to have to write down all my expensesIt’s not necessary to write down every little thing My spouse won’t go along if I want to budgetMy spouse and I can be involved in the budgeting process depending on our strengths and interests My spouse and I already fight about moneySetting up a budget is an opportunity for us to discuss what is important to both of us I don’t have enough time to do itKeeping track of a budget is done monthly I’ve tried before and it doesn’t workI will have a budget that works for me I don’t need to do it. I don’t see how it’s going to make any difference in my life A budget can improve my life, regardless of my situation I’ve never bothered to budget and we’re doing fineA budget can help me to do even better I don’t want to know the truth; I’m afraid to see what the real figures are A budget helps me deal with reality before reality catches up with me
More minuses (-) than pluses (+)? You now know why you can’t budget! Start looking at the benefits on the + side and understanding how a budget can help improve your life! More pluses (+) than minuses (-)? You believe that your life can benefit from a budget! Get familiar with the basic tools of sound financial planning and budgeting!
“Our feelings about money today almost always can be traced back to an incident from our past and/or our first experience or message about money.” ( Suze Orman, Internationally acclaimed personal finance expert)
Everyone has a story about money. We will explore our own unique money origins and discover how these experiences have shaped our current attitudes about money.
In Pairs..... Talk about the first memories of money. How did you get it? How did you feel about it? What did the grown-ups say about it? Choose three words to describe your first experience.
What is a basic need? *Cable/satellite *Power *Cigarettes *Diapers *Speeding Ticket *Visa Bill *Groceries *Slurpees *Pet Food *Laundromat *Cellphone *Parking/Transit * Day Care *Life Insurance *Hockey Fees **Timmy’s *Vehicle Insurance *Hair dresser *Prescription *Pot *Rent *Student Loan *Internet *Gifts *Savings *Repairs to vehicles *Mortgage payment*Property Taxes*Tenant/House Insurance * Water/Sewer *Child Support*Car Payment* Restaurants *Convenience Stores * Bank fees* Donations* Booze * Swimming Fees * Rent To Own Payments * Gas * Kids Allowances *Parents Allowances *Retirement Savings *Vacation *Lottery Ticket
The Four Walls Food Lodging Clothing Transportation
FIRST STEP..... LETS GET ORGANIZED! - Filing - Tracking expenses - Transparency - be honest! - Think about occasional expenses – divide them by 12 - Ask for receipts...even for the small things! - Make a page for everything....
- Groceries – diapers, wipes, formula too - Transportation –gas, oil, repairs, bus, taxi - Restaurants – convenience store food too - Entertainment – videos, games, bar, - Gifts, clothing, toys, kids activities - Laundry - cigarettes, booze, pot, gambling - Everything Else – hair, spas, jewellry, photos, magazines, books, hobbies, music NEED TO DO THIS FOR ONE FULL MONTH!
Remember...... Life is a filmstrip.....not a snapshot!
A couple more tips.... If you use credit cards, you will spend 12 – 18% more than you do if you use cash! To get out of debt....first you have to STOP borrowing....you cannot borrow your way out!