|I want to emphasis the following: It is absolutely impossible to earn more than you can spend – as a group, we humans are insatiable. Our desires are without limit. If you doubt this statement do some internet research on professional athletes who have earned millions of dollars per year, only to be absolutely broke within a few short years of retirement or look into how well off those Lottery Winners are ten years after hitting the big jackpot.|
|The budgets are available for your use, as pdf files, on our website: “MeetTheTruthdotnet”. Use them as examples to get you started on your Financial Plan.
|“The Truth About Money: How to Find Joy and Peace” discusses three different budgets: the General Guidelines Budget, the Calendar Budget and the Spreadsheet Budget. The format of the budget is not that important – we just want to track our income and expenses and make adjustments to ensure we are living within our means.|
|To live within your means; to spend less than you earn, is going to require a plan. A financial spending plan is called a Budget. Please do not jump off the roof of any nearby buildings; it is not that difficult. A budget is nothing more than a plan. If you do not know where your money is going, how can you possibly hope to make any changes in your spending? Remember that Financial Joy and Peace we are looking for? Joy and Peace will be the pay-off for our planning (Budgets) – It will be worth it.
|Quotation from Dave Ramsey: “You must gain control over your money or the lack of it will forever control you.”|
Two words of caution regarding a 2nd job: (1) If you have the energy for a 2nd job, you should probably be using that energy on behalf of your primary employer. Additional pay raises and promotions will normally come to those who make themselves invaluable to their employers; (2) Most importantly, you only have 168 hours per week and you do not want to short-change your family. Your spouse and children need you to spend time with them. A temporary 2nd job to get over any financial crisis you might be experiencing is one thing – please do not plan on it for the rest of your life.
Regarding increasing your income: This means to improve your education or employable skills; make yourself more valuable to your current employer or to a prospective employer. This could also include a 2nd job to generate additional cash flow.
The previous three steps (live within your means, increase income & pay off debts) are the rules to Finding Joy and Peace with your personal finances. These are Natural Laws, that is, always true. Please see the next book in our series “The Truth About Natural Laws: How To Find Joy And Peace”, due out in 2016, for further discussion of this subject.