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Kalyn Brooke

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Why You Need a Budget…..Yes, YOU!

December 10 // 36 Comments // 3 Minute Read

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This is the first post in the Creative Savings’ Beginners Guide to Budgeting Series. You can find links to the rest of the series on this page. If you are looking for ways to manage money better then I have a full page dedicated to that topi over here.

Budgets truly are the most powerful financial tool, and this post explains why EVERYONE needs to have one. Are you ready to start YOUR journey toward financial freedom?

I’m a major believer in budgets.

I started budgeting the day I received an allowance {yes, I was that kid!}, and the majority of my birthday money always went straight into my savings account. I think I had more fun watching it grow, than actually spending the money!

Even though I do enjoy crunching numbers, the main reason I’m so in love with the word budget, is because it works.

  • We had a beautiful wedding under $3,500.
  • Both cars had 5 year loans on them, and were each paid off in 2.
  • Joseph and I love to travel, and go on at least one nice vacation each year.

And it’s not because we make enough money to afford those things. Logic says we really shouldn’t. However, everything we’ve ever paid for, saved up for, bought, or wanted, is because of our budget. It’s made the impossible, possible!

A Budget is Your Financial Roadmap

I like to think of budgets as a “set of directions” for your money. Without it, we would both be completely lost, unsure of what we should save, and where we can spend. But sadly, that’s how many of us have decided to navigate life.

A Gallop Poll conducted over the Summer of 2013, found that only 32% of Americans actually have a personal budget. That means 68% of Americans don’t have a budget at all. They have credit card debts, mortgages, school loans, and spending problems, but they don’t budget. 

Can I ask you a personal question? Which percentage are you in? The minority who budget, or the majority who don’t?

I totally get not wanting to feel restricted by a spreadsheet that tells what you can and cannot spend. But if that’s the case, then you need to wrestle with these questions too:

  • Do you have financial goals you’d love to accomplish? A family vacation? A newer car? A house instead of a rental?
  • Wouldn’t it be nice to have the exact amount you need to pay your bills…every month?
  • Wouldn’t it be even better to know exactly what you can spend, and not feel guilty about each purchase?

It’s much harder to do any of those things without a budget. And honestly? I think you’ll experience a lot more freedom than you think.

With a budget to help guide your spending, you will never be caught off guard by another expense. In fact, you will be even more prepared by setting aside the right amounts in anticipation of the next bill, due date, or financial goal.

Should your income or expenses change, a budget is extremely versatile, and can be adjusted according to your needs or future plans.

Doesn’t that sound doable…..even preferable?

It’s Time to Start Budgeting….Now

Maybe I haven’t convinced you to start a budget, and even so, I hope you’ll stick around and glean what tips from this site you can.

But if you’re ready to give it a shot, then I encourage you to take the next step and follow along with my Beginner’s Guide to Budgeting series. In the next few weeks, we’ll be talking about how to track our income, what to do with expenses, how to set up a budget sheet, and the best tips for maintaining a healthy budget.

A budget really is the most powerful financial tool…you just have to know how to use it. <– {Click to Tweet} But once you learn, you’ll never want to go back. You might even fall in love with budgets as much as I do!

Are you ready to start an incredible journey? I’ll be right here to help you with any questions you have!

Do you have a budget? Why or why not?

 {Go to the next step: How to Track Your Income}

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Comments

  1. Sarah Mueller says

    January 29 at 11:50 am

    Oh yes! We definitely have a budget. It’s like anything else requiring self-discipline – diet, exercise, etc. it takes a little work, but the rewards are great. Not having to worry about paying the bills is priceless to me.

    We just upgraded our budgeting app (YNAB) and now we can enter our transactions on the go as we make them. I’m thrilled that my husband is now entering his purchases on his smart phone. Little things like ease of use go a long way toward keeping up with the budget.

    Thanks for a great post!

    Reply
    • Kalyn Brooke says

      January 30 at 4:31 pm

      I have seen that app, but haven’t had a chance to try it yet. It sounds pretty cool!

      Reply
  2. Lety says

    January 29 at 12:04 pm

    Hi. Kalyn! I am part of the larger percentage. I have been wanting to make a budget for quite some time, but never have. I often feel like I have so much debt, and only so much left over that there is not much to budget. It’s as if my income is already predestined, if that makes any sense. However, I want this year to be the one in which I give this a shot. I found your blog at a perfect time. Though setting a budget is one of my 2014 goals, I have not done much in the way of achieving it during January. I am looking forward to following your series. Thank you! 🙂

    Reply
    • Kalyn Brooke says

      January 30 at 4:33 pm

      You are SO welcome! I’m excited to have you here, and I totally understand feeling like there is nothing left over after all your expenses. Here’s to changing that in 2014. 🙂

      Reply
      • Lety says

        February 6 at 10:48 am

        Thank you, Kalyn, for the warm welcome 🙂 And for the encouragement!! 🙂

        Reply
        • Kalyn Brooke says

          February 7 at 7:34 pm

          Glad to have you here!

          Reply
  3. Elizabeth @ DogFurandDandelions says

    January 29 at 12:35 pm

    My favorite thing about budgeting? It gives me the freedom to enjoy some “fun money” without guilt! Our income is not the greatest, and it’s very sporadic (like 3 months worth at a time). Before we started budgeting, we were never sure where the grocery money was going to come from (of course, we were both out of work at that point too), and we certainly didn’t buy anything extra – Goodwill trips, Walmart candles, and even McDonald’s dollar menu was off the list! But once hubby got a good job, and we worked out a bare-bones budget, it was such a relief to have even $20/month to spend on those things – AND not have to worry about buying groceries and paying bills. Yes, things are still tight, but it really eases the worry!!

    Reply
  4. B says

    January 29 at 6:11 pm

    We don’t have a budget. I’ve looked at pretty spreadsheets and thought about doing them, but the bottom line is: We live within our means. We don’t have credit card debt. We pay extra on our student loans and then we’ll devote extra to our mortgage when student loans are paid off. We save up and pay cash for special treats (vacations, new furniture, etc.) and still manage to grow our savings. And we don’t make tons; we’re teachers. 🙂 All that being said, I will probably look into budgeting more when we have kids and our financial needs change.

    Reply
    • Kalyn Brooke says

      January 30 at 4:35 pm

      Good for you! It sounds like you are doing a great job. 🙂

      Reply
  5. erin says

    January 29 at 10:05 pm

    No and I am looking for recommendations to help me find one.

    Reply
    • Kalyn Brooke says

      January 30 at 4:35 pm

      I hope you enjoy and get a lot out of this series, Erin!

      Reply
  6. Kyle @ Aspired Living says

    January 30 at 10:29 am

    I definitely have a budget and it has made a huge difference in the way we live and in our ability to pay cash for things. I just wish we would of budgeted before we had kids and really saved a bunch of money before I came home to be a stay at home Mama! If we would have started living on my husband’s income for a year or two we could have really saved a substantial amount of money as I was the main bread winner! Thanks!

    Reply
  7. Michelle says

    January 30 at 2:54 pm

    We have a faux budget. Faux b/c it doesn’t include food or gas or extras. It’s just has the bills, student loans, mortgage, etc. We can definitely use a real budget though. Looking forward to the budgeting series!

    Reply
  8. Nichole @ Budget Loving Military Wife says

    January 30 at 3:23 pm

    We have been budgeting for two years now. When we first started budgeting, I couldn’t believe how much “extra” $$$ we came up with. It seriously felt like we received a raise. We are now on one income due to an overseas move and our budget is the only way we are able to travel as much as we do. Thanks for sharing such a great post! Found your blog via the “Living Well, Spending Less” link party. 🙂

    Reply
    • Kalyn Brooke says

      January 30 at 4:36 pm

      Thanks for stopping by! I love how a budget lets us “treat ourselves”….within moderation, of course. 😉

      Reply
  9. [email protected] says

    January 31 at 11:57 am

    I’ve budgeted off and on for many years – but we have had a hard time sticking with it (you know the drill, one partner goes “off the budget” and the other thinks “why do I need to deprive myself if they aren’t” and everything is forgotten. Well, we are determined that this will NOT be us this year – we want the bills GONE and it will be done this year!!!!

    Reply
    • Kalyn Brooke says

      February 3 at 9:53 pm

      I know exactly what you mean! Once the ball starts rolling, it’s hard to make it stop. 2014 is YOUR year! 🙂

      Reply
  10. Sarah @ An Inviting Home says

    February 6 at 10:10 am

    Great Advice! We have had a working budget since 2006 and it has totally saved years of possible “money fights” between my husband and I.

    ~Sarah

    Reply
  11. Betsy says

    February 6 at 1:46 pm

    We have a pretty tight budget, but I had troubles keeping to my “allowance” for entertainment and non-necessity purchases (the wants, not the needs, like drinks with the girls, et.). So, my husband opened me up my own separate checking account with a debit card and at the beginning of every month my “allowance” is automatically transferred over to do with as I please. It has worked wonders! I can check my balance on my phone and see what I’ve spent, and even better, I can save for items I want to buy myself that are true splurges. To be fair, he has his own account and his own allowance, too, and the same rules apply for him. But when you’re trying to live on a budget and watching every single dollar, it really helps!

    Reply
    • Kalyn Brooke says

      February 7 at 7:35 pm

      I agree – fun money is a must, even if it is a small amount each month. It lets you breathe a little bit and not feel so restricted by your budget!

      Reply
  12. Nadine says

    February 6 at 9:15 pm

    I don’t have a budget right now. I tried to start one, even bought Quicken to help! I can’t figure out the best way to use that software, and it’s become a waste of money. Our Pastor did a series at church about how important our financial well being is, and quick easy ways to budget. I’ve been committed to making a budget this year and sticking to it. I’m excited about your series!

    Reply
    • Kalyn Brooke says

      February 7 at 7:37 pm

      I’m so excited to have you here! Expensive software does nothing if it’s not a system that works for you. I’m looking forward to having you try mine out and see if you like it!

      Reply
  13. Sarah E @The Teacher's Wife says

    February 12 at 10:00 pm

    We are definitely budgeters! I was shocked by your stat about how few people budget. Budgeting has helped us to anticipate expenses and we can spend guilt-free b/c we know the money is there! Great post!

    Reply
    • Kalyn Brooke says

      February 14 at 9:21 pm

      Thanks, Sarah! It’s good to know there are other budgeters out there! 🙂

      Reply
  14. Carissa says

    March 27 at 12:10 am

    How do you best have a budget when you stay at home and your husband is self-employed (has his own business-woodworking) etc.. and we can go WEEKS without pay and when we do get paid it’s either barely enough to cover our back bills and most of the time not even enough to cover.. We have downsized as much as possible.. Pretty much debt free besides house as well. Just not sure how best to do this and there is not much direction out their for someone who works this way.

    Reply
    • Kalyn Brooke says

      March 29 at 1:55 pm

      Income that changes month-to-month can be really difficult to budget for, but it’s not impossible.

      Even though his income will be different each month, they key is to work from a budget number that won’t change, no matter how much he brings home. Meaning, you don’t live from paycheck-to-paycheck, you take out a specific amount from the bank each month that now becomes your monthly “paycheck”, regardless of his income. Some months, his pay will be higher, so save save save for months when it will be lower to cover that same monthly amount. To figure out the right amount to pull each month, you will have to do some number crunching with your expenses, using one of his lower paychecks as a starting point. I explain more about that here: https://kalynbrooke.com/frugal-living/budget_basics/building-your-first-budget/.

      I hope that made sense, and helped at least a little bit. I wish you and your family the best!

      Reply
  15. Emily says

    April 24 at 5:11 pm

    We used to have a budget but fell off the wagon about 5 years ago. Now hubby actually makes more but is talking about me going back to work full time. I am reinstituting the budget before I am willing to do that! This is perfect timing for me!

    Reply
    • Kalyn Brooke says

      April 29 at 2:11 pm

      Awesome, Emily! I sincerely hope it helps you. 🙂

      Reply
  16. Grace Houle says

    October 6 at 10:53 pm

    Yes, we have a budget, but it’s more of a reminder we have to keep things in check more than anything. We are in the red monthly, God always provides, but I am def. trying to rack my brain and get creative in more ways to save.

    Reply
    • Kalyn Brooke says

      October 7 at 6:49 pm

      You’re in the right place, Grace! There are tons of ideas to save creatively here. 🙂

      Reply
  17. Nicole Pollack says

    December 18 at 11:05 am

    I am so happy that I stumbled across your blog! Just this morning in fact…. I struggle with my finances and constantly “float” just looking at my bank statement every few days and think “yup, moneys in there I’m fine” and then checking a few days later and wondering where its all gone. I’ve had it with myself!! I am finally going to take charge and pat down some of my debt. I am a single gal on a single income (thats not too great…) but I am finally willing to do my best and make it happen.

    Reply
    • Kalyn Brooke says

      December 20 at 9:51 pm

      Nicole, I’m so glad you stumbled across here too! That is so exciting that you’re ready to make a change and get your finances in order — such a big step but SO worth it! Please let me know if you have any questions or if there is anything I can do to help. 🙂

      Reply
  18. Sonja Morris says

    May 23 at 3:10 pm

    Hey, I do not have a budget. Not because I do not wish to have one but I am without a job and still in school. I would love to start to save but I don’t know how. Should I start having a budget?

    Reply
    • Kalyn Brooke says

      May 27 at 7:56 pm

      Hi Sonja! If you have any expenses, or if you want to save up for something big {like a car, home, electronic device, etc}, then yes, I would recommend you have a budget. A budget will help you set aside a certain amount to cover those expenses {or save up for an item}, without having to pay for it all at once! 🙂

      Reply
  19. Sandy says

    June 18 at 12:29 pm

    Sad but true…in the majority of folks not living on a budget…I have never been able to find one that makes sense to me…I will sound like an idiot to most of you…but it’s hard for me to comprehend the idea of budgeting because how can you predict what is coming… I realize this sounds ludicrous… But I’m just being honest… When I’ve tried before to figure one out it ocpverwhelmed me and frustrated me so much I gave up… Plus honestly, the word budget makes me feel deprived and rebellious! Not sure if I can be helped with this but am willing to give your series a try… Because I know I need to do something radically different because my spending is not in check and with the income I make I should not be struggling financially… It’s something always in the back of my mind…

    Reply
    • Kalyn Brooke says

      June 20 at 10:37 am

      I hope you give it a go, Sandy! Take small steps. For figuring out the income, if you have a steady paycheck you can use that to figure our how much you make each month. If you have irregular income {you work on commission or do contract type work} I have a post in the series that deals specifically with that: How to Track Irregular Income.

      Don’t be afraid of a budget – think of it as deciding where your money is going to go BEFORE you spend it. As opposed to just getting your statement at the end of the month and seeing where it all went.

      Reply

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Hi, I’m Kalyn—a recovering perfectionist who nerds out about organizing systems, personal productivity, and helping you prioritize what matters over the pressure to do it all. I have a feeling we’re about to become the best of friends! Learn more >>

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I used to feel guilty for reading fiction novels. I used to feel guilty for reading fiction novels. 😔⁣
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Once in high school, someone told me that I needed to expand my world through real stories and information instead of reading all that fluff. 🥴⁣
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I understand the point they were trying to make. If you want to learn how to do something or get to know historical figures or grow personally in a positive way, non-fiction will help you get there. ⁣
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But fiction matters too... for so many reasons! Here are my three: 📚⁣
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1. Fiction helps me practice empathy. I see the world with new eyes because of the way the author invites me to step into the shoes of a beloved character. 🥰⁣
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2. With fiction, you can live thousands of lives. George R.R. Martin said, “A reader lives a thousand lives before he dies. The man who never reads lives only one.” Fiction allows me to enter a world I don’t get to experience in real life. 💗⁣
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3. Fiction helps me write better non-fiction. When we hear a well-told story, our brain reacts as if we are experiencing the story ourselves. So when I read a particularly captivating passage, it gives me ideas on how to weave storytelling into my writing too. 💪⁣
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I’d love to hear why you think fiction matters. Comment below and tell me one of your favorite things about reading fiction!⁣
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And if you love books just as much as I do, I invite you to follow my new bookstagram account @theunclutteredbookshelf where we can talk about books ALL the time. 🤩
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‘Tis the season for spring-cleaning your home … and your finances! 💸⁣
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If it’s been a while since you last overhauled your budget, updated your savings goals, etc., not to worry. I have just the thing to give your finances a fresh start! 🥳⁣
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On the blog this week, I’ve listed 7 essential steps to help you clear out the cobwebs. Don’t be intimidated—I promise it will be fun! And once you have these systems in place, you’ll enjoy less stress during the rest of the year. ⁣
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Drop any cleaning emoji in the comments below and I’ll send you the link to get started. 🧹🧽 🧼
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The authors of the book The One Thing get this. ⁣
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Not everything can matter equally. If everything is important, then nothing is. And extraordinary results are directly determined by how you narrow your focus. ⁣
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And equal approaches almost never result in equal outcomes. 🙅⁣
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So embrace being out of balance. Go “all in” on the things that are important to you and let the rest go. 👋⁣
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One of my favorite quotes from The One Thing is, “The key to success isn’t in all the things we do, but in the handful of things we do well.” 🥳⁣
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Think about what you want to do well and then leave what you can behind. And of course, grab the book if you’re able and add it to your reading stack. I have a feeling you’ll love it like I did! 💞⁣
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Have you read this book yet?
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1️⃣ Rearrange pages however you wish and whenever you wish 💪⁣
2️⃣ Organize your planner into sections 🎉⁣
3️⃣ Use bullet journal printables to save time drawing layouts (this is the solution to the loudest objection I hear about bullet journaling) ⏰⁣
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If you’re not satisfied with the 2021 planner you picked, try a discbound notebook ... bullet journal style. This week’s blog post dishes all the details on what you need to set one up along with a video on how I use mine! 📣⁣
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Drop a notebook emoji in the comments below if you want the link. 📒
Last week the world watched Harry and Meghan’s t Last week the world watched Harry and Meghan’s tell-all interview. 📺⁣
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I wouldn’t say I’m obsessed with the royal family (even though I did hang a photo of Prince William in my high school locker!). But I bought a pint of non-dairy Ben & Jerry’s ice cream and settled in for the two-hour tell-all interview. 🍦⁣
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And here’s my main takeaway:⁣
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Suicidal thoughts. 💭⁣
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Yep, we’re going there today. ⁣
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When someone says they “didn’t want to be alive,” don’t ignore their pleas or pass them off as attention-seekers or say they can’t get help because it would look bad on the royal family (all things that were told to Meghan). 🤯⁣
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Nope. When someone says that, believe them. ⁣
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Their brain is already at war. We don’t need to ruin their chances of winning. 🏆⁣
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So regardless of your opinion about Meghan or the royal family, I hope you hear my heart in this. 💞⁣
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We need to stop believing people only when it’s too late. We need to believe them now… and make sure they know they have our full support. Someone close to you right now could be struggling with their own thoughts and you don’t even know it. 🤔⁣
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So be careful what you say. ⁣
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Meghan probably won’t hear or read your opinion, but your friend will.
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