Forget budget planners. If you don’t already have a monthly budget, you may be better without one.
If you don’t already have a monthly budget, chances are that you’re the type of person that feels boxed in by rules of behavior and keeping to a strict budget.
Having a budget or budget planner may actually make you go crazy because you don’t feel like you can live freely. A budget planner and expense limit can feel like a nanny hovering over you at all times telling you what you can and can’t buy.
So what do you do if you need to get your expenses under control?
You find out where your biggest leak is and focus exclusively on plugging that leak. You may already know what that leak in your pocket is. If so, that’s great because half your job is already done.
If not, then spend 30 minutes going through the last 90 days in your checking account, debit card or credit card. Find out where the money is going!
Once you find out what the big leak is, then spend all your focus on building a plan on reducing that cost. Don’t waste time keeping tabs on every penny you spend with a budget planner.
Go where the money is! Unless your monthly spending is the rare exception to the 80/20 rule, then the majority of your disposable income is going to only one or a few things.
Brainstorm how you can eliminate or reduce these expenses and pour all your energy into following through on that plan. Don’t waste energy and focus on the small change with a budget planner.