Here are some articles that caught my eye this week…
It is amazing how sometimes even a small act can change someone’s day. Giving is one of the most fun things you can do with money. The biggest reason I am passionate about people getting out of debt is the peace of mind that provides, but second and not too far behind is when you are out of debt and healthy financially you suddenly have the ability to give and bless those you see around you. When you aren’t sure how you are going to be able to make the mortgage payment this month it’s pretty difficult to give. But when you actually have margin in your life, you have the wonderful opportunity to help those you see that are in need.
How many of these goals are you on track to accomplish?
Last year my family and I enjoyed a wonderful vacation to the Grand Canyon, Yosemite, and 5 other National Parks paid for with cash. Back when we were trying to get out of debt though our vacations were more likely spent visiting family. It was a very inexpensive way to get away for a little while. I’m fortunate that I have terrific in-laws who I enjoy spending time with. Maybe you aren’t so lucky. If that’s you there are still many ways you can find some relaxation without busting your budget.
Rule 4 of the four rules in the You Need A Budget system is living on last month’s income. For example, the idea is you would now be planning to pay your upcoming June bills using the money that you earned in May. This makes budgeting a piece of cake because you already know how much money you have to work with. It also gives you the peace of mind of knowing that your bills are all covered before the month even begins. Personally, I haven’t quite gotten to this point yet, but one of my goals is to eventually do so.
If you live in western areas that are suffering from severe drought conditions these techniques might be a big help, not to mention you might be able to save significantly on your monthly water bill.
I strongly believe the key to any kind of financial change is having a “why” that is stronger than your urge to satisfy whatever want is before you right now. Without a motivating purpose people just float from one want to the next. Having a “why” gives you the strength to say no to the things that don’t really matter so you can say yes to the things that are most important to you.