Getting into a pattern of budgeting

Sometimes the most difficult part of sticking to a budget, is getting into a pattern of weekly updating the numbers. In the beginning, most people will dutifully log into their budgets every week, usually on a Saturday or Sunday and update it but then something happens. Either there are not enough things to update, so it seems like it is a waste of time to log in and just update one or two items, or... the alternative which is there are too many things to update and there is a lack of money in the account to cover all expenses and it becomes a somewhat somber experience. Or... someone just decides they don't want to have their Saturdays ruined by having to look at their finances, which makes no sense whatsoever. Sure, relaxing on a Saturday is necessary to recover from the week, but at the same time, if someone is so desperate for relaxation because their work week takes so much out of them, and they desperately want to change their lives for the better, then Saturday is the perfect time to explore how to make those changes happen so rather than a few hours of relaxation, someone can actually get on track to building a better future where they no longer have to contend with a very difficult Monday - Friday.

Short term pain - long term gain. Not short-term pain, which is then forgotten for an hour or two, then more short-term pain which, if not dealt with, eventually it turns into long term pain with no relief. Most people will spend more time figuring out what channel to watch on YouTube than planning their financial lives out.

Both cases should call for the opposite of abandoning the process. The act of updating a budget weekly is not only to know where the numbers are, weather the bank account matches the budget although, that is very important, sort of like balancing a checkbook weekly, but the more important part is the idea of getting into a weekly pattern to update the budget, so it becomes habit.

Getting into a pattern to update the budget weekly gives the owner a few possibilities that helps with getting on track financially and staying on track. Obviously, the first thing is knowing where the numbers are. If someone updates their budget weekly, they have a good idea where their currency is going to, how much they have to spend on bills that week and what are the long-term outlook is for the next few months. This helps if there is an inevitable emergency sometimes, such as a car issue or something else that needs to be dealt with, and even a passive knowledge of the budget will give the owner a better understanding of where they can work that emergency into without even having immediate access to their computer.

But more importantly the weekly updating sets the owner of the budget into a pattern where they start changing their behaviors to be more aware of the overall financial picture and making decisions that are more in line with their goals and long-term financial needs. If someone starts updating their budgets weekly, and they get into a habit of seeing their budget for the next week, month or a few months, they will be able to make much better financial decisions about things they want to do or need to do because they are basing their decisions on factual data and real-life abilities, rather than wishing or worse, making quick calculations at the time when they want to do something but painting a way too rosy of a picture of their finances and imagining the very best case scenario to justify an expenditure, such as buying a new car. Inevitably something will happen, that will prevent that ongoing expense from being available, and then that purchase can turn into a nightmare. But someone who is aware of their budget, because they have gotten into a pattern of updating it weekly and having a good idea what is available, can make a decision that is a lot more in line with reality, therefore it can result in a better long-term outcome and ultimately, a much better financial picture overall.

Building financial security is a very difficult process in the beginning. For a lot of people, it is a dream that in their minds, will never happen. The reality of financial life is that a lot of folks will continue to suffer financially and live paycheck to paycheck and go from one emergency to another. Breaking this cycle is an arduous and monumentally difficult task but it is made even worse if someone is not even aware of where their currency is going to, when their bills are due, etc. This can lead to a cycle where someone is perpetually negative in their checking account, or worse, they are rolling short term loans with huge interest rates from paycheck to paycheck in order to make ends meet.

Financial awareness is the first step in breaking out of this cycle and being able to see the full financial picture is the most important part of that first step. Creating and staying on budget or checking the budget weekly may initially project a set of numbers which can look downright depressing. Endless deficits on the horizon. BUT. Without knowing where things stand, and updated weekly, this is made infinitely worse because it forces people to make snap financial decisions, which can lead to even a worst financial outlook.

Getting into a pattern of updating a budget on a weekly basis creates the groundwork for eventually being able to turn the financial picture into a more positive and more accommodating one with a long-term possibility of financial security. It takes discipline to change ones' life - sure, not everyone will be a millionaire, but one doesn't have to be in order to feel more comfortable, feel secure financially or to get on track with building a better life.

Sometimes it is a matter of being sick and tired or being sick and tired.