Extra Money

It’s that time of year that many look forward to due to what we think of as ‘extra money’, the tax refund.  But is it really extra money?  Do you not have plans for that money that have been made all year long?  How many things have been put off “until we get the tax refund”?  Which means its really not extra at all.  It is pretty much spent by the time you get it.  I don’t agree with some experts who tell you to have less money deducted during the year so you can have the money now. That just lets the ‘extra’ money get absorbed into the general fund and you see no benefit from it at all. 

How many times have you paid off a bill and thought now you have that amount ‘extra’ each month?  Think of the people who quit smoking and think that now they have all that ‘extra money’.  Unfortunately, after one or two months that money is absorbed into the general budget with no discernable benefit to the whole.

One of the ways to do an audit of your money is to track your spending for thirty days.  Every penny. Keep receipts for everything.  After two weeks to a month, put those receipts into categories.  There will be one category that really surprises you.  It could be books, magazines, makeup, clothing, or eating out.  Once you isolate the problem area, you decide how much money you want to spend in each category.  If you make a conscious decision you will stick with it.  No one else can make you keep a budget. You will find money for the things that are most important to you even if it comes out of the money budgeted for what other people would consider necessities.

We see people every week who say that keeping a roof over their kids’ head is their priority.  Well, the house was repossessed, so that is not where the money went.  If your priority is not a house, don’t sign a big mortgage.  Who’s life are you trying to live?  Let this be the year that you live your own life.  Decide what makes you happy.  There are lots of books and quick tests to help you with this because we normally just automatically respond with the answers that we think we are supposed to give. 

You decide what you are supposed to have and when you are supposed to have it.  No one else has the right to say that your should buy a house, or a car, or that you should have a better job.  Do what makes you happy and you will be successful.  And success should not automatically mean finances.  If you are happy you will be a better spouse, parent, friend, employee, that is success.  Why stress yourself out to be a financial success just to create family, medical, and living expenses that will diminish those finances?  Never make decisions based solely on financial information. 

Your life includes so much more than your budget.  We can get so obsessed with money and bills that we miss the most important parts of our lives.  Look around you, count your blessings.  When we are listing our blessings we need to be very thankful for those friends and family members who accept us as we are and encourage us to be our best.  They are supportive, caring.  They are never envious or judgmental.  Unfortunately, most of us have people in our lives who would like to see us fail.  It is easier for us to fail than for them to succeed.  We need to avoid these people.  Let this be the year that you decide to surround yourself with people that you are totally comfortable around at any time in any mood.  And strive to be one of those people for someone else. 

If you need help with creditors or creating a realistic budget and setting attainable goals for yourself and/or family contact Credit Counseling Advocates, Inc for free counseling.  We are in Van Buren at 3103 Alma Hwy.  479-410-1700 or 888-745-4481.