Creating a Budget is the first step into getting your finances in order. It opens your eyes to where your money is and isn't going, and forces you to make a change so that 10 minus 10 does not equal negative 5 (debt and interest on debt).
Not creating a budget is kind of like avoiding asking your parents for permission to do something. You know they are going to say no, so you don't ask and you do it anyway. Then later on they find out you did it, and you get in trouble. You're now responsible for the act you previously committed, and now you have to pay for it in some form of a punishment or scolding. You may not receive it immediately, or they may let the incidents pile up before they act upon a punishment.
It's the same with creating a budget. If you write down your income and the bills you need to pay, you will visually realize you may not have enough money to buy everything you want. Then you mentally have to go against what you know you should not do: go out to eat, buy new clothes, buy that new shiny electronic device, continue paying for services you don't really use (looking at you gym membership!).
For some people that's a harsh reality to face. I know it was for me. Especially after graduating from college and not having a job which paid enough for me to seriously think about paying my student loan debt.
Debt is the punishment (spanking or time out) you receive for not asking permission, and the additional interest you pay on debt are the residual memories you have of that punishment. You still feel the sting or disappointment from your parents, days/weeks/months/years later right? But the next question is, after feeling the sting, did you make a change to avoid feeling it again? Or did you follow the same path? Well maybe Mom might not realize what I did, or maybe she won't catch me this time. I'll be able to make up a good story in the Future if this ever comes up. Eventually, you will pay!
AJ Mobile Money
Husband | Father | YouTuber | Former ATLien
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