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What’s the connection between budgeting and families? Well, there are few things that can run up your stress meter like money problems. When you’re worried about how you’re going to pay off your debts, or how you’re going to save for the children’s college fund, or what you’ll do to survive your old age, your attention can be distracted, and your mood can be edgy.
Marriages can turn ugly when money is a constant worry. Parenting can be a tremendous challenge, too. It’s difficult to find the emotional reserves necessary to be positive and supportive when you’re anxious about finances (for more information, listen to my podcast).
Some of the counseling that I’ve done with parents has focused on helping them keep better track of their finances, so that they can then create a financial plan that helps them create the future they’ve envisioned for themselves. In the conversations I’ve had, I’ve heard some people say, “I honestly don’t know where all the money goes!”
Well, it definitely goes somewhere. What’s necessary, I tell them, is for you to have the courage to pay closer attention. Once you’re really looking, you’ll be surprised at some of the ways your lifestyle is a mismatch with your priorities.
Let’s use an analogy: Not too long ago, I went to the doctor for my annual physical. I got on the scale, and weighed in at 240! I was like, “Aw hell no!” I knew from the way my clothes were fitting that I was gaining weight, but I had no idea I had gotten that deep. I waddled home, and decided to pay closer attention to my calories. I found an app, called Lose It! (no affiliate relationship), and started logging all of my activity, and all of my eating and drinking.
It’s been amazing to learn how many calories there are in the French fries that I like to eat, and the mayonnaise based sauce that I like to dip them in. Well, I said to myself, I can’t eat those anymore – or at least not as many. The beer that I like to drink is 270 calories in a bottle. I realized, if I’m going to continue to drink 10 of those a day, I can’t eat anything!
I’ve lost 8 pounds so far, and truthfully, I don’t feel like I’m sacrificing all that much. If I want to snack hard at night, then I have to eat more frugally during the day. “More celery and pickle salad, please!”
What’s the point? The point is that deciding to pay attention to your money – just like your calories – can give you the information you need to get control over your finances. And getting better control over your finances can give you the wherewithal to be a better partner, parent, and person.
If you need help, get in touch with me at [email protected]. I love helping people work on their budgets. I’ll give you a free consultation to help you get started. Good luck!
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This post was previously published on www.drjohnrich.com and is republished here with permission from the author.
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Photo credit: Istockphoto.com