Comments on: How to Get Out of Debt: Step 3 – Create a Budget & Stick to It http://www.providentplan.com/1536/how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it Personal Finance for Life in the Kingdom Sat, 11 Feb 2012 05:19:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Money Hacks Carnival: Middle Name Pride Day Edition | Mighty Bargain Hunter http://www.providentplan.com/1536/how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it/#comment-6285 Money Hacks Carnival: Middle Name Pride Day Edition | Mighty Bargain Hunter Wed, 10 Mar 2010 11:16:09 +0000 http://www.providentplan.com/?p=1536#comment-6285 [...] Provident Plan outlines how to create a budget and stick to it. [...] [...] Provident Plan outlines how to create a budget and stick to it. [...]

]]> By: Paul Williams http://www.providentplan.com/1536/how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it/#comment-6247 Paul Williams Wed, 03 Mar 2010 14:48:53 +0000 http://www.providentplan.com/?p=1536#comment-6247 You're right, Kevin. A budget makes you responsible for how you spend your money because you've made an agreement (with yourself or your spouse) that you'll only spend so much in each category. Responsibility isn't necessarily "fun", but it is necessary for success. I really think it helps people to keep in mind that a strict budget is not permanent. Yes, you'll need it until you get to the point where things are under control. But by that time, you'll have such a good handle on your finances that you probably won't need a budget to be your overseer anymore. They're still useful at that point but not necessary. Thanks for sharing your thoughts! You’re right, Kevin. A budget makes you responsible for how you spend your money because you’ve made an agreement (with yourself or your spouse) that you’ll only spend so much in each category. Responsibility isn’t necessarily “fun”, but it is necessary for success.

I really think it helps people to keep in mind that a strict budget is not permanent. Yes, you’ll need it until you get to the point where things are under control. But by that time, you’ll have such a good handle on your finances that you probably won’t need a budget to be your overseer anymore. They’re still useful at that point but not necessary. Thanks for sharing your thoughts!

]]> By: Kevin@OutOfYourRut http://www.providentplan.com/1536/how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it/#comment-6246 Kevin@OutOfYourRut Wed, 03 Mar 2010 13:48:37 +0000 http://www.providentplan.com/?p=1536#comment-6246 I think most of us don't use a budget because we think of it as an overseer of sorts, and we don't want to be subject to it, or to have it identify that we're out of control. It's kind of like the Apostle Paul writing (loosely) that the law came along and made him aware of his sin. Interesting point about budgets being temporary, I never thought of it that way, but it makes sense that once you reach a point of relative financial independence, you won't need a budget to control your spending. Maybe that's why rich people seem so...rich! They aren't as constrained. .-= Kevin@OutOfYourRut´s last blog ..<a href="http://outofyourrut.com/blog/2010/03/02/wasting-money-away-again-in-margaritaville/">Wasting (Money) Away Again in Margaritaville</a> =-. I think most of us don’t use a budget because we think of it as an overseer of sorts, and we don’t want to be subject to it, or to have it identify that we’re out of control. It’s kind of like the Apostle Paul writing (loosely) that the law came along and made him aware of his sin.

Interesting point about budgets being temporary, I never thought of it that way, but it makes sense that once you reach a point of relative financial independence, you won’t need a budget to control your spending. Maybe that’s why rich people seem so…rich! They aren’t as constrained.
.-= Kevin@OutOfYourRut´s last blog ..Wasting (Money) Away Again in Margaritaville =-.

]]> By: Paul Williams http://www.providentplan.com/1536/how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it/#comment-6242 Paul Williams Tue, 02 Mar 2010 19:12:30 +0000 http://www.providentplan.com/?p=1536#comment-6242 Thanks for your comment, Donna! Once you start tracking your expenses you'll often be surprised at where the money is leaking out. Many times it's just small things here and there that really add up. Congratulations on taking an important first step to gaining control of your money! And thank you for your encouragement!!! Thanks for your comment, Donna!

Once you start tracking your expenses you’ll often be surprised at where the money is leaking out. Many times it’s just small things here and there that really add up. Congratulations on taking an important first step to gaining control of your money! And thank you for your encouragement!!!

]]> By: Donna http://www.providentplan.com/1536/how-to-get-out-of-debt-step-3-create-a-budget-stick-to-it/#comment-6241 Donna Tue, 02 Mar 2010 19:04:31 +0000 http://www.providentplan.com/?p=1536#comment-6241 Great ideas. I started tracking our spending just in February then lost my job but I kept receipts and totaled. Ouch! I found areas of enormous drains on our finances. Keep up the good work. Great ideas. I started tracking our spending just in February then lost my job but I kept receipts and totaled. Ouch! I found areas of enormous drains on our finances. Keep up the good work.

]]>