Why Balancing Your Budget Affects Your Dreams

You have dreams and goals and aspirations. You are ready to go after what you want.  But can you put your money where your mouth is? Your personal finances and your dreams are perpetually interconnected.

Dreaming is the fun part…Oh the Places You’ll Go! (fist bump to Theodore Geisel)…the things you can do!…the stuff you can get! It is exhilarating!  But have you balanced your checkbook? Paid your debts? Built an emergency fund?

Unless you are a personal finance geek (guilty as charged) all that number stuff really puts a damper on that dream.  It isn’t glamorous.  It isn’t sexy.  The reality is once you dream the dream and set the goals then it’s time to work.  That isn’t glamourous or sexy either but without it there is no success.

Why is being able to balance your budget so important?

*Money is a tool and it is better to control it than for it to control you

Kristin over at www.thewildwong.com  did a great job of spelling out why money is just a tool.  You need to be able to become proficient at using it.

If you have ever lived paycheck to paycheck, have been in deep debt, or both (***sheepishly raising my hand, eyes averted***) then you know what it is like to have money control you.  It controls how much you work, where you can go, what you can do, where you can live, what you can eat, the list is endless.  It makes you feel helpless.  On the other, if you control your money, you get to call the shots.

It starts with learning how to balance your budget.  You need to know how to stay in the black so that your money can start working for you instead of your creditors. This is something you can control. Master this so YOUR dreams can come true.  There are plenty of blogs out there to gather information if you are starting from scratch.  Some of my favorites are www.budgetsaresexy.com, www.getrichslowly.org, and (for those who are ready for the real diehard stuff) www.mrmoneymustache.com .

*Money is a tool- use it to get what you want.

Once you balance your budget good things start to happen in your financial house. You can see where your money comes and goes.  You can make decisions on where those dollars go: what to save, what to spend, what to cut back on or even if you need more income.  You did the work so you get to decide all of that!

If your goals are things, you need to save for those things.  Want a house? You need a down payment.  Season Tickets to your home team games? You need to pay in full. Adding to your antique pickle fork collection?  Gotta have cash.

If your goals are time, you need money to swap out for time.  Want more time on the weekends?  Just hire a gardener or a cleaning lady but that costs money. Want to spend less time in the kitchen? Restaurants charge you.  Want to retire early?  Just takes money.

Some of you are still not excited yet!  But how exciting will it be when the hard work pays off, you get what you want and you can sit back and say, “Look what I did! Awesome!”

Possibly the saddest thing is missing an opportunity because you weren't mastering your money. Click To Tweet

*Money is a tool for opportunity and serendipity

Possibly the saddest thing is missing an opportunity because you weren’t mastering your money.

That Transylvanian pickle fork circa 1324 that you’ve been coveting comes on the market for a steal but you can’t get it because you procrastinated with all that boring personal finance stuff and you are broke.  You have no cash to buy it.

Someone has a start up and you know it would be the perfect business for you to get involved in but you can’t get in because you have nothing to put up.

And what about that special something that you never even new existed?  Until you did. Ready for that?

Opportunities like this present themselves every day. Some of the most fabulous things come from the most unexpected places.  You can’t plan for those scenarios but you can plan for the unexpected, the “just in case”, simply by mastering your budget.

So you see, that budget really can affect your dreams.  The question comes down to are you ready to do the foundation work? Can you face the figures on that spreadsheet to get where you really want to go?

I am currently concentrating on my retirement accounts because I have every intention of rocking it in my seventies and eighties!

What are you doing in your personal finances to make your dreams come true?

2 thoughts on “Why Balancing Your Budget Affects Your Dreams

  1. Kristin Wong

    Thanks so much for the link love, Anna!
    To answer your question, my long-term goal is to have complete control over my time–meaning, I want to be able to work on whatever I want without having to answer to an employer or depend on a client for my income. In other words, financial independence. It’s a huge goal, but it’s important to me and it gives me something to work toward.
    I think you make an important point when you say it starts with learning to budget. I think it’s easy to assume that controlling your money is only possible when you earn a high-income. It actually starts when you’re broke and in debt. To me, it’s especially crucial to develop a sense of control in that situation because you feel so powerless. It’s harder, of course, but even a little can make a difference.

    Reply
    1. annamweisend@gmail.com Post author

      You are so right! It does start when you’re broke and in debt! Controlling your money is your best defense at whatever financial stage you’re in whether you put yourself there or not.

      Reply

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