The "B" Word

I've spent my fair share of time perusing mom-blogs, lifestyle blogs, home-management blogs and the like. One of many things I've observed is that there aren't very many of us talking about budgeting. It gives me pause as it's such a bread-n-butter part of everyday life.

So. It may not be chic or trendy, but this week at Bloom...we're going there.

It's January - the season of goal-setting and improvement-seeking. I'm willing to bet that the subject of money management cropped up in your resolution-meditation at least once. 'Tis the season to regain control, to make changes.

I love budgeting (scout's honor!) We budget every dollar that comes into our hands -- every month. And (for the most part) we live by it. We need it. So do you.

Here's why:

5 Reasons Why You Need a Budget
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1. Control. It's not fun to get to the end of your money before the end of the month. You need a plan from the outset. Budgeting is deciding in advance how/where you will spend your money (giving each dollar a job) instead of wondering after the fact where it all went.

2. Marital Harmony. If you are married or otherwise involved, you don't want money-related contention in your relationship. The budget is an objective way to eliminate it. In a quick-ish "pow-wow" at the beginning of the month, you can come together with your spouse and communicate your financial needs (ie "I need $50 of fun money to entertain the kids...) and plan your expenditures accordingly. With a clear picture of available funds, each person can understand why certain restraints need to be in place during a tight month or give input on how disposable funds should be spent when there is surplus.

3. Goals. You have goals - the budget will help you align your spending with your values. Raise your hand if you recently watched Julie & Julia and are now desperately wanting a trip to France. Okay, maybe it's not that. But there's something - new furniture, a day at the spa, a hot pair of boots...) and you tell yourself you're going to save for it (the trip, the spa, the boots), but then you see a cute scarf at Target (dunn-dunn-dunnn!) And in an enamored-consumer moment -- you forget about your longer term, more fulfilling savings goal and sacrifice it on the altar of instant gratification. A budget brings you back to your goals - frequently. It allows you to set aside the money for them. It aligns your spending with your ultimate goals.

4. Peace of mind. Do I need to say more on this? Not much.
Just this: It's comforting to know that you've got a sum tucked away for your next insurance premium, your health insurance deductible, unexpected car trouble, a rainy day. A budget will allow you to plan for/accumulate funds for these types of things. Imagine this: your little boy breaks his arm and the associated medical expenses total $479. You don't even think about your credit card. You've got $500 in your "medical deductible" pile. Sounds like peace to me. You want that.

5. Love. You're going to love it. Really. More on this tomorrow, but budgeting isn't a kill-joy. It's like any other thing that gives you more control (ie freedom) in your life -- conscious eating, regular exercise, disciplined time-management -- it's rewarding and invigorating.


Still to come...
Tuesday: Budget Myth Busters
Wednesday: My budget of choice (and a surprise for you - dont' miss it!)

Questions/thoughts about this?

Leave a comment - I'll pop in
on the thread periodically and we'll chat.


xo,
Em