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"Showing up the play" by Bob FiaccoEach of the BQB and WriteLife Publishing authors have their own areas of expertise. Today, we are happy to share a post by Robert A. Fiacco. Since many people make financial resolutions for the new year, this is very timely and we hope you’ll appreciate his advice. Robert is the author of Showing Up to Play: Business and Life Lessons Learned on the Golf Course


10 Steps To Setting A 2015 Financial Budget

Every year at this time people all over the world set their new years resolutions. Number one on most lists is to lose weight the second is to get out of debt.

Both are worthy goals but not always easy to stay on target once the challenges of life start wearing on us.

Here are ten steps to making a financial budget:

  1. Realize that you need a written budget. You can’t get were you want financially without having things written down. Keeping a written budget will help you stay on target.
  2. Keep these in mind:
    1. What are you spending currently?
    2. Evaluate and look at your long term financial goals
    3. Track your spending and make sure it is in line with your long-term goals.
  3. Use software to save time and headaches. Get into the 21st Century
  4. Don’t get crazy or obsessed, once you set your plan realize you still have to live on this planet.
  5. Watch for hidden drains on your budget
    1. ATM spending
    2. Carrying excess cash
  6. Don’t spend more than you make
    1. Government figures show that households with $50,000 or less tend to spend more than they take in.
  7. Beware of your wants vs. your needs
    1. Wanting it is different than needing it.
  8. Don’t base your budget on winning the lottery be realistic.
  9. Stay on task even as your income grows
    1. Getting a raise or bonus should not constitute a spending spree.
  10. Pay yourself first always save something before you spend.

I am telling myself these things as I write. It is not always easy to do the right thing with our money but if you can discipline yourself your life will be much richer.