To Budget or Not To Budget; that is the Question? No

Hamlet’s; “To be or not to be” soliloquy represents his internal struggle over the purpose of human existence and the meaning of life and death.

Personal Budget Preparation – Not Using Time Wisely

“To budget or not to budget,” that is the question?  My answer to this question is; No!!

Some people think that not having a budget is your financial life or death and serves a real purpose in your economic existence.

Let’s put a poisoned blade in that notion right away and here is why.

According to a recent Gallup poll, nearly one in three Americans prepare a detailed written or computerized household budget each month that tracks their income and expenses — a vast majority do not.

According to Practical Money Skills Canada; only 47 % percent of Canadians use a budget to plan their spending.

Before my Canadian readership gets a little cocky about doing better than their American cousins; let’s dig deeper into Canadians handling of funds.

Practical Money Skills Canada goes on to say; Canadians are feeling more in debt than ever with 90% saying they have more debt today than five years ago.

What is the definition of a budget?

A budget is a plan, an outline of your future income and expenditures that you can use as a guideline for spending and saving.

A budget can help you pay your bills on time, cover unexpected emergencies, and reach your financial goals — now and in the future. Most of the information you need is already at your fingertips, but a personal budget takes away the most important asset you have; time.

What can a Personal Budget do for you? Nothing

Creating your budget takes your eye off your real financial story and success.

So if you are not recommending doing a personal budget oh wise one what are you suggesting? (hope you know this is a little tongue in cheek)

My recommendation is what I call real-life or blue-collar financial work forms; one is a monthly income statement with your real numbers; would like to see you go through a full year cycle of expenses to get to know your financial habits and second; economic work form is your net worth statement.

Both your income statement and net worth statement based on today’s technology can quickly be updated every single day.

That old saying; ” A Fool and Their Money are Soon Parted” is losing its steam today as we get access to our financial mirror reflection every day.

I use a banking app that even sends me a message immediately on where I spend money.   The app shows me how much money I spent compared to the same establishment the last time I visited.   You almost feel guilty if you spent more.

Banking App Spending Insights:

  • Spending By Category
  • Spending History
  • Daily Digest
  • Spending Spikes
  • Transaction History

The most significant return you will experience is on time; take the time to go through these banking insights and your money will be well protected; no budgeting required.


About the author, W. Rick

Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.

An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.

In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.

Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.

Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.

Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?

An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.

Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.

Thank you for taking the only asset that gives us so much through life, but we can never get back our time.

Please join Rick on living his mantra:

” Prosperity for all aspects of your life forever.” W. Rick Harris

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