Believe it or not, one of the best reasons for making a budget is to help you to be debt free. By making a budget, you’ll have a tool to get control of your finances. Getting control of your money is one of the primary financial principles you'll have to master to be debt free.
You should think of your budget as more than just a list of your income and expenses. Instead, think of it as an opportunity to change your life. How? By planning how you’ll spend your money in a way that is most important to you. This perspective, coupled with a good budgeting tool, will also help you to stick to your budget.
So in order to experience the benefits of a completely debt free life, it’s important that you make a plan for spending your money before you actually receive it. This way you will be in control of your money and not the other way around.
Here is a great eBook that covers budgeting basics and has great tools and resources to help your family budget wisely. Fill out the form below for your FREE download:
Remember, once you get a monthly surplus (i.e. your monthly income is greater than your monthly expenses) then you can use your credit scores and accelerated debt elimination strategies to be debt free faster.Debtfree › Why Make a Budget