By Leigh Currey Merrifield
Unfortunately, in today’s world, most people find themselves living from paycheck to paycheck. Many people don’t budget their money, and I read that even when people do have a budget, less than 25% of them stick to it! Even with a prepared budget, it requires us to be careful with our spending and not ‘cheat’.
First, consider your “musts”; for example, if you have a car payment, it has to be paid. Whether you rent or have a mortgage, those payments too must be met. So do your utilities … and certainly, don’t forget that your family has to eat, so that is another “must”. It is also a good idea to put a flexibility category in your budget to cover unexpected expenses … like the need for new tires or an unexpected replacement of a hot water tank, or a medical emergency – none of which will be cheap fixes!
When you’re out shopping and find something you love, have the resilience to ask yourself if you really need this item. Don’t weaken and say “what the heck” and purchase anyway; be strong and say NO! Beware of using credit cards to buy wants that are not necessities because credit card purchases can soon mount up as well! Sticking to a budget can be a challenge; that’s why you must remember that your family’s NEEDS are the top priority!
I hate to be the bearer of bad news, folks, but everything today is going up and up, and it’s not just gasoline. Numerous food items are expected to increase by 10.1%, and sweet treats are also expected to hike by 9.8%. Fresh vegetables, according to what I read, are predicted to go up nearly 5%. You can add anticipated price hikes for high performance electronics that will better support AI too! The list of rising costs also included energy services so watch for that to appear on your utility bills. Sadly, streaming services like Netflix may not be a less expensive option in the near future. Drug prices and health insurance costs appeared on the “likely list to go up” as well. All of these things are among many reasons why a budget might be a good idea to develop and follow. And perhaps add prayers to the good idea list; pray that your income level doesn’t plummet! And another prayer that the tech takeover doesn’t dissolve your job entirely! I hope that in the not too distant future, I can bring you more promising news – like prices of necessary things will go down … and your income will be what rises. We can only hope!
Quote of the Week: “A budget is telling your money where to go instead of wondering where it went.” ~ Dave Ramsey
