Hey, thanks for coming back, I love budgeting so much, I hope you’re starting to love budgeting just as much as I am. I promise that when your budget works like a well oiled machine and you are reaching your goals, you will think budgeting is this cool too. I promise. Okay, so the next thing that we are going to do, now that we know the facts, we’re going to split those facts into needs and wants. Now, just because you spent $200.00 on clothing last month, that’s a fact, but that doesn’t mean that we necessarily need to put $200.00 into the budget for clothing moving forwards. So we’re going to dissect your list of facts into needs and wants. I want you to get two colors of highlighters. Or, if you don’t have that and you’ve got kids around, find some crayons. You know you can find those, right? And I want you to decide which color is for needs and which color is for wants. Go through your list and highlight the needs and wants. Now, in this lesson it’s very important for you to look through the lens of someone else when deciding if something is actually a need. People will tell me all the time that they NEED this or they NEED that… but they don’t. They have created their life to WANT things SO BADLY that they NEED it… but they don’t actually need it. So be careful when going through this list. I would also encourage you to share your results with a friend or a family member, or maybe your partner and see if they agree with the needs and wants. Now you know what’s going to be coming next. We may have to take out some of those wants. So be very clear when you are choosing what’s a need and what’s a want? This should take you no more than ten minutes.
5 Day Budget Makeover Series Transcription – Day 2 – Needs vs Wants
Published by theprettymoneyblog
To all you women that are working too damn hard to feel like you’re just getting by paycheque to paycheque… To all you ladies that just don’t have the freaking time for financial jargon and complicated budget systems… To all you women struggling to feel in control of your money, ’cause you know you can rock it if you just had a simple map… I see you. I GET you. I'm a busy mom of two boys and a wife to my business partner. I love baseball, red wine, and our family trip to Mexico every year. After more than a decade as a licensed professional in the personal finance industry, I’ve figured out strategies that are simple, but have massive impact on your wallet. I’ve left out the jargon and fine print because I know you don't have time for that. The Pretty Money Club enrolls new members twice a year for the 8 week course that will turn your ugly budget into top model pretty money... and most of our members stay in the club after class is done to keep learning and stay in touch with all the women they built community with. View more posts
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