3 Secrets Your Parents Never Told You About Budgeting

“It is not the man who has too little, but the man who craves more, that is poor.”

~ Seneca the Younger

Financial wisdom is mostly learned through trial and error. This stands true for many adults, except for the select few whose parents were masterful with their finances and passed their knowledge on. If you were one of the many whose parents didn’t pass on financial understanding about budgeting or saving, then this article is for you. 

Budgeting sounds like a chore, and it does not have to be. 

The feeling of personal power when you fully comprehend the movement, growth and decline of your finances is only understood when you experience it. Budgeting empowers you; it keeps you in charge of your life and allows you to spot opportunities where you can increase your financial health. Healthy budgeting habits are imperative if you do not want to stay in the same rut for the rest of your life. 

Below are the top 3 budgeting tips to help you get started towards being stronger, financially. 

Tip #1: Know Your Weaknesses

We all have weaknesses. Weaknesses are habits that we have like take-away when we are exhausted from a long day’s work or collecting shoes that we never wear. 

Whatever the habit is or the weakness, make provisions for it in your financial life. 

How do you do this? You either place a portion of money aside and keep collecting, knowing that you can use that money for your weakness when it becomes available, or you realise how much effort it took to collect the money and you choose to place it in a savings account. 

Our weaknesses provide moments of relief and never really provide the same lasting financial power that saving the money would. If your weakness is something which is also your treat, then make sure that you work this into your budget. You are allowed to spend your money on yourself, which brings us to our next tip…

Tip #2: Rewards are Necessary

If you live a robotic existence, especially with your money, you will burn out. You must have the reward aspect in place. Of course, having the power of your financial health being in tip-top shape is fantastic, but you cannot simply exist your entire life and never reward yourself. Using the reward system must be done in an intelligent manner by setting mini goals so that you can reach them and then experience real rewards. 

Rewards are not to be confused with weaknesses. 

Weaknesses are impulsive and should be curbed, rewards are empowering and should happen after you reach a goal. For example, let’s say that you wish to buy a better television for your home, but you do not really need it. Set a financial savings goal and once you reach it, then your reward is the better television. Do not take out of the savings but add the price of the television or item on top of the savings goal.

Tip #3: Budgeting Time is Scheduling a Meeting with Yourself

Many people do not budget because it feels chore-like and because, in this hustle and bustle busy digital age – there simply isn’t time. However, if your boss scheduled a meeting with you, you would make time for them. 

Why is it then that you do not make time for yourself? 

Schedule a time slot before payday and work on your finances. Budget for the next month and use this time to only work on your budgeting and finances. It will serve you in the long run. 


For many people, we make time for everything and everyone around us, we do not make time for ourselves and attempt to scramble what is important into the in-between moments. If you are experiencing this, perhaps it is time to put yourself first and understand that you can only attempt to help the world around you when you have your own life in order. 

Remember that if you need a helping hand with your debt repayments, our professional and compassionate debt counselors are only a phone call or email away.

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