Luke 14:28 “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? There is a difference between hoping to get out of debt, and planning to get out of debt. In order to get out and stay out of debt, we have to create a strategic plan for doing so. Unfortunately, those that continue to hope for debt freedom probably won't get very far. Once you decide to get out of debt, you then need to orchestrate actions that will help you achieve the desired result. How do you do that? By setting a budget and sticking to it!
I know, I know, the dreaded "B" word. I think the word budget has gotten a bad rap. The first word that used to come to my mind when I heard the word budget was restriction! And who wants to feel restricted, especially when it comes to money that you've worked for? Well, that's exactly what debt does. It limits the amount of money that you can control and enjoy. On the other hand, a budget actually gives you more authority. You set the boundaries by determining how much you're going to spend in each category. A budget doesn't have to include only your bills. It should include entertainment, shopping, and whatever else you like to do in your free time. If doing those things strain you financially, then simply reallocate. You are free to design the plan however it best fits you. That's good news!
A budget is not only your plan for getting rich, but it's your road map to freedom as well. Without one, your money will continue to control you. With a plan in place, you are able to tell your money where to go, instead of having it fall where it may. Remember, your budget can and should include both bills and extracurricular activities. After all, you should be able to reward yourself for all of the hard work that you're doing (without going into debt of course)! So get to work, your freedom depends on it!
Change requires action!