Budgeting Essentials
2 Meaningful Money Safeguards That You Control
2 Meaningful Money Safeguards That You Control
© 2023 Dan the Budget Man
For family safety and peace of mind (and minimizing credit card balances!) every smart person needs money safeguards!
Free Money Safeguard Cheat Sheets Inside Blog!
You may say, “Other than watching what I spend, I don’t know what else I can do. We need everything I buy!”
I would respectfully submit to you that you do not need everything you purchase.
Today’s consumers are pressured. Ads are everywhere. Convincing you to buy this or that.
“Oh, I guess…maybe.”
Think on this: if you purchase to become trendy - you are headed for trouble. Big trouble. Financial trouble. Poor house trouble. Bankruptcy trouble.
What are those 2 Meaningful Money Safeguards?
Simply put, they are YOU and HOW YOU SPEND MONEY.
How to Balance Your Spending in 2023:
You
You are the only one who can convince yourself to refuse a non-essential purchase if you do not have the money to pay for it upfront.
A parent who says no to a foolhardy purchase is not the bad guy in a child’s life. Not every desire should turn into a purchase, especially if the family budget cannot bear the burden immediately.
As adults, there are times when we need to tell ourselves no. Getting out of debt means that available monies are applied to outstanding bill balances before purchasing for fun. (Fun may be the reason that debt is still lingering).
Saying NO to Certain Purchases:
Help to Get Hold of Your Financial Self (and Your Spending) in 2023:
1. Get ahold of yourself every time you are about to spend money on something that is not necessary to survive.
2. Stop looking at heels, jewelry, and sporting equipment that you cannot afford right now.
3. Why? The more you look, the more you build desire for the item – causing you to purchase outside of your household budget.
“How do I do that,” you ask?
1. Buy only what you need. Survival items include food, clothing, and shelter.
2. Stick to your money plan. This takes discipline. Your money will never be your own until you pay those bills off!
3. Involving the whole family in the household budget sets up a precedent - Keeping all family members on the same money page.
- We do not own an item until it is paid in full.
- The more we spend on A, the less we have for B.
What can I buy?
Food – 
This means that you start (or continue) cooking at home. Grocery shop only on a full stomach. Shop with a pre-written list of food items. Buy only what you need to cook at home for the week.
Clothing 
This means that you no longer go on “shopping trips” with Others. Buy non-trendy clothing you can mix-and-match with your current wardrobe.
Shelter 
This means that you live in a safe, affordable dwelling. Accept your home for what it is, not what it could be with newly bought furnishings. Keep everything neat and clean.
Employment needs
Transportation to and from work. Nothing sporty, unless you already own it free and clear. If not, you may consider selling the expensive model while used car prices are still good and trade down into a lesser model with better gas mileage.
Figure out monthly gas and oil costs. Set aside a little something each month for maintenance. Use a hose, or bucket of hot soapy water to wash your vehicle just as you would a new car.
If you do not have and cannot afford a motor vehicle, consider alternative forms of transportation. This may be bus fare.
Encourage yourself by remembering:
- Others lay claim to your money when you “owe” them.
- The longer it takes to pay, the higher the price you will pay.
Why Wise Spenders Also Pay Wisely:
A person who spends money wisely, will also pay wisely. This is true because:
- Your money is not your own if you owe someone big bucks for what you have.
- The bigger the debt – the harder it becomes to pay it off.
- Paying only the minimum amount due on your credit card balance is never the right choice.
Hint: Add up the payments you are making over the term of your home loan (often 30 years). If you are renting, add up what you are paying someone else to live in their place – and for how long?
Encourage yourself by remembering:
Making Bill Payoff Primary is BENEFICIAL!
- A house is more affordable (even with higher interest rates!) when your secondary bills are paid off!
- The fewer bills you have, the more you will enjoy your money. What is a paycheck if your bills eat it up every month?
- Today’s foolish purchases waste tomorrow’s money.
- Affordability is greater when bills are gone!
Resources:
Safeguarding Your Money Cheat Sheet #1:
(Frugality = spending resources wisely)
Steps to Help You Manage Your Money in 2023
- Knock off the retail purchase coffees. Instead, get a nice travel mug and fill it with a coffee or tea from home.
- No more eating out at lunchtime, even if it is fast food. Make your lunch at home and bring it to work.
- If you are able, set aside $7-$8 per month for things that may come up at work – birthdays, etc. You can increase this amount as your debt diminishes.
- No more “after work get togethers” until you are financially fit. Once this happens, you get to choose what you do with whom. Until then, stick to the frugality plan. Do you want to be free of debt or not?
- No more Friday night order-out pizzas or whatever you may have done in the past. Get the family together and make your own pizza(s). Rent a movie, and spend time together as the family you are.
- Do not make any electronic upgrades unless it is a dire emergency. When you do get a new model, do not pay the upcharge for the latest-greatest model that the world is raving about. Most of it is slick advertising. Remember your goal: debt freedom.
- Exercise. I am not talking about joining the gym. If you have equipment at home – use it. If not, look for something slightly used. Ask around. Lots of people have exercise equipment they have not used, or they toss it out for a newer model.
- Frugal examples may include a jump rope, using food cans for weights, a library book to do aerobics at home. You get the idea. (We are not suggesting things we have not done before!)
Safeguarding Your Money Cheat Sheet #2:
(Some Resources that May Help)
The Ironstrength 20-Minute Core Workout
The images are no longer available, but the exercises are explained in writing.
Download to get you thinking about safeguarding your money.
To guide you step-by-step to creating your own money plan to pay off debt quickly!
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https://www.BudgetingEssentials.com
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www.youtube.com/@DansMoneyHelp>
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