Planning how we spend our money - Budgeting.

Have you ever tried to be in two places at once? How did that work for you? It doesn't work for me. So, most of us have calendars, day planners, Blackberries and other tricks to make sure we don't "spend" the same time more than once. We plan how we spend our time. But we fail to plan how we spend our money. Then we wonder where all our money went and why don't we have enough left to do all those things we want and need to do. Money is like time, we can only spend it once and then it is gone.

We schedule work, activities, vacations and free time, but we don't do the same for our money. Why? Maybe it is because the word "budget" has such a negative connotation. It makes us feel deprived. It makes us feel "poor" to live on a budget. Why don't our calendars make us feel the same way? They make us feel powerful and organized. Well, the truth is, if you have a workable budget, it can make you feel powerful and organized.

If "budget" stirs up negative feelings for you, call it something else... Allocated Spending Plan, Money Plan, Spending Plan, Fred, Bob or George....whatever you want! It doesn't matter what you call it. It only matters that you plan how you spend your money - at least as well as you plan how you spend your time.

Don't be suprised if it takes a few months to develop an accurate, workable budget. Your first attempts at a calander were probably not as successful as you would have liked, but over time you got better at planning your time. The same applies to your money - you will over and under estimate how much you spend in different catagories. It just takes time and determination. Don't give up just because you didn't create a perfect budget from the very beginning. Just like any other skill, budgeting takes time to develop.