Budgets, dieting and exercise have a lot in common. The same mindset required to sustain a healthy diet or a regular exercise regime is applied to maintaining a better budget.
Slipping up and having that extra slice of pizza is not any different than putting those on sale extra houseware items in your Loblaws cart even though you only set out to buy groceries. Sleeping in through your morning routine is the same as not putting together that crock pot meal and having to buy takeout while in a rush between your kids' extra curriculars.
If you are trying a new budget it's important to be realistic. If it doesn't include any room for fun, it's going to fail. Think of it like a bungee cord. If you stretch it all the way to the max, the second you let go it will snap back violently. Same as that crash diet that puts your body in starvation mode. Shave 5 pounds this week, gain back 7 the next.
Plan to accomplish your financial goals slowly. If saving 10% of your income means never taking a vacation, try dialing back that savings a little. Sure, yo
u could pay off your mortgage a couple years early, but if that means it's impossible to do the odd night on the town, you're pushing too hard. It's not that these aren't important goals. It's that leaving no wiggle room risks a major reversal, where you're always 1 step forward, 2 steps back.
If you're still struggling to get it right, please send me an email or give me a call to discuss how I can help you and your family build a budget to weather all of life's ups and downs.
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