| Many people fore go the planning required to prepare | | | | writing down everything I spent and kept a list. I don't |
| for retirement. You have to stop losing and make | | | | expect you to go to this extreme - this is how I |
| money from your investments to build a solid | | | | started. |
| foundation to ensure you provide a very sustainable | | | | Next thing I did was to go to my favorite ebook |
| income in retirement. You probably think I will give you | | | | superstore cb deluxe for research and assistance - |
| the "holy grail" of investing the one thing that will make | | | | most all started with budgeting! I knew I was on the |
| you millions. Instead I will ask you a simple question - | | | | right track. I didn't get a wake up call until I received my |
| "Do you have a budget?" If you are like most people, | | | | group certificate at the end of the financial year and |
| you probably think a budget will restrict your spending, | | | | thought "wow I got paid that much?" What did I do |
| hamper your lifestyle and generally make you | | | | with it? Only when spending habits are quantified do |
| miserable. None of this is true - a budget is simply a | | | | you know how much you can save. I do not know |
| financial plan to succeed. | | | | anyone (including me) that could not save at least 10% |
| A budget lists your income and expenses, lays the | | | | of their income after completing a budget. Most can in |
| foundation as to how you either invest or spend your | | | | fact save 20% to 30% of their income and still |
| money. It allows you to have more freedom, more | | | | maintain a good lifestyle. |
| security and more wealth. It provides you with the | | | | When you begin to budget you realize how much |
| flexibility to plan for the future. Most people do not | | | | money is wasted through uncontrolled spending. Silly |
| have a budget. However, without a budget how do | | | | things - like do you need 10 magazines a week, |
| you know how much you are actually spending, or | | | | another black jacket, expensive face creams and so |
| more importantly how much you can save? I started a | | | | on! All silly really so I'm not talking living on the smell of |
| few years ago when I realized my situation was not | | | | an oil rag just cutting back and thinking before |
| good. A divorce still working and nothing to show for it. | | | | spending. |
| Yes, a babyboomer still living the good life. I started by | | | | |