I want to fix my budget, but I can't budge it!

By
Real Estate Mortgage Broker with RightTrac Financial Group MLS#: 988459
http://actvra.in/Xqb

I can’t be out of money. I still have checks left.


It is an old punch line, but it is amazing how many people do not budget at all or fail to stick to a budget, if they start one.

That bain of the impulsive, budgeting, is critical for everyone if you want to buy a house, even for most wealthy people, before the purchase and after.

The daily paper of the ‘well off’, the Wall Street Journal, did an article on ‘The Best Way to Stick to a Budget’ recently (Monday 6/10/13).

There was a time when most everyone religiously used, tracked, and balanced their checkbooks every month. Remember those days?
 
Then debit cards came along and, I guess, that was the beginning of the decline of the instant record keeping that checkbooks engendered. It was harder to keep track of a ‘card swipe’ and harder still to remember ‘all those transactions’ when you got home. That is the excuse many used, including me at one point in my life. You know what happens then, don’t you? Hello NSF!

I’m sure there is a personality trait correlation to saving or not saving. Some are simply better budgeters than others.

According to the article, financial planners are divided on what is best for budgeting. Continuous tracking or short term tracking and reflecting?

One is like ‘stepping on a scale every day’ while short termers say people won’t keep up detailed, focused budgeting. They will fall off the wagon. The goal is to get you into better budget and savings habits.

I say whatever keeps you focused and goal oriented. Delayed gratification – doing without now for something later is at the essence of saving. It is also a foreign concept to many Americans.

One good thing the Great Recession did was bring back some old fashioned savings habits. I know. It is hard to do.

But don’t give up! In the digital age….there is.... digital help!

Mint.com. – Quicken – You Need a Budget – Pearbudget.com are all budgeting software aids. I’m sure there are more.

There are now probably some nifty mobile apps as well. Just tracking what you spend can be eye opening. Sometimes, simple changes in behavior can bring significant results.

What kind of budgeter are you?


Posted by

Righttrac Financial Group's 30 plus years of invaluable industry experience, its strong lender relationships, and my own unique business background makes for a winning combination to give you the widest array and most effective resources possible to help you achieve your mortgage goals.

When you are looking for any type of a residential mortgage, you can reach me, Tom Halzack of RightTrac Financial Group:

cell: 203-260-3413

email: tom@rightracfg.com.

Questions and any type of inquiries are welcome! FREE, NO OBLIGATION PRE-QUALIFICATIONS are available for both consumers and Realtors' clients.

"Extraordinary Mortgage Solutions"

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Topic:
Home Buying
Location:
Connecticut Fairfield County
Tags:
saving habits
saving money
impulsive spending
budgeting software
budgeting
saving for a mortgage

Comments 36 New Comment

Anonymous
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Rainmaker
669,014
Sharon Parisi
Dallas Homes
Keller Williams Dallas Premier Realty

Keeping records and knowing what you have is a must. Ask yourself the question, "Do I want it or need it?"  Only buy what you need.

June 20, 2013 09:56 PM
Rainer
21,592
Thomas Halzack
Extraordinary Mortgage Solutions
RightTrac Financial Group

Interesting responses by all.

To those who say they do not keep a budget, but DON"T have financial problems...

you are keeping a running budget in your head....whether you know it or not!

Whatever works, right?

June 20, 2013 10:11 PM
Rainmaker
261,048
Paddy Deighan JD PhD
Paddy Deighan J.D. Ph.D

every time I work on a budget for a client, I look at my own budget and it is never the same twice!!!  One of these days i wil get it correct!!

June 21, 2013 12:17 AM
Rainmaker
292,131
Nina Hollander
Your Charlotte/Waxhaw/Fort Mill Area Realtor
RE/MAX Executive Realty/Charlotte, NC

We all feel we need more than we really do. Like many other things in life, it's getting into the habit of saving and saying no to oneself.

June 22, 2013 05:59 AM
Rainmaker
31,903
Gijs Van Breugel
Terres de France | International Estate Agents
Terres de France Immobiliere

The crisis has been an eyeopener everywhere. Balance and budget : I have stept of the lease and loan downward circle as we cannot be sure at this point when we will get our next check. So back to the old sock under the mattress...

June 23, 2013 12:22 PM
Anonymous
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Rainer
21,592

Thomas Halzack

Extraordinary Mortgage Solutions
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