Author: Alfred Spengly
What do you think the biggest obstacle is for why you do not have financial freedom? Believe it or not, it is not because you do not have a 6 figure income. But the bigger question is not, "Why do you not have a lot of money in the bank." The big question is, if you had the possibility to do it, would you?
It is not hard. And what you need to do to realize your dreams--though it does take some effort--does not have to be painful. And the long-term benefits can be staggering. The reality is, in comparison to what you would have to do, the rewards are outstanding! But it does come with this warning, and you may not like the thought of it at first. And here it is: you need to keep a budget of your money.
Let me tell you, however, a budget is not a restriction of your spending, it is a tool to eliminate wasteful spending. You can continue to purchase the things you need--in fact, it gives you the freedom to purchase not only the things you need, but those things you want. But a good budget will show you how you can keep more money for you, and less money for those who are getting it from you for free.
There are three specific things a budget can do for you:
1. It can help you identify areas where you purchase things that cause you to pay interest. And if you really get down to the nitty-gritty, people are wasting a lot of money on interest. A budget, however, is not intended to remind you of the bad circumstances you are in if you already have the debt. It is to help you identify how to stop paying interest today and begin to have that money return to your account for you to spend.
2. It can show you how your money can earn more money for you. If you keep the right kind of budget, it will show you areas where you can use your money to make more money with the money you already earn. And it can give you a forecast of how much money you can save and when you would save enough to be financially free. And it can come sooner than you think if you use a budget to its fullest potential.
3. If you are doing it right, you can even find that, as you go, it can be exciting to see--not only the progress, but also the great rewards you can attain in the end.
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Article Source: ArticlesBase.com - Financial Success - One Simple Principle That Can Give It To You
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