Living within our means seems to be a lost skill whether it’s newlyweds just starting out, elderly trying to live on fixed incomes, a large family, a college student or a government. Simply put, it is spending less than you take in. Businesses know that if they fail to follow this precept they will fail –period.
To budget means to set aside monies for assigned purposes. There are many good books written to help but I am going to outline the easiest way I’ve ever found. All the things that would take your money can be put into one of three categories- needs, wants, and wishes.
A person, family or government would be wise to make sure that needs are filled first. If there is still money in the till, a few wants might be fulfilled. If you persevere, there may come a time when some wishes can be filled.
In the crazy mixed up world of today, many are filling wants and wishes first, leaving no money left for needs. This creates financial crisis. To get back on our feet whether as individuals or governments, we must stop putting the cart before the horse. We must forsake our wants and wishes. We must focus on our needs until the time comes that they are all being met easily and then, only then, start working on some wants.
Of course, this plan depends on having the ability to truly be able to tell the difference between needs, wants and wishes. Here’s an example- I’m fat and need to get in shape, I wish I could hire a personal trainer, I want to join a gym, I can’t afford either one so I filled my need with a couple of workout DVD’s and a pair of walking shoes.
Here’s another- I have an old washer/ dryer set. They work but I’d really like a more updated set. I’d LOVE to get one of the fancy front loader sets that do everything but the dishes. I don’t need a new washer /dryer set right now. I just want one. If the ones I have stop working, my want will have jumped to the need spot but unless I’m better off when that happens, I won’t get my wish of the fancy front loader. I’ll get the best I can for what money I have at the time. Are you following me?
So despite all the jokes and memes that popped up after the presidential debate pitting Mitt Romney against Big Bird, I knew exactly what he meant when he said he would stop federal funding for PBS. In our overtaxed budget (pun intended) we must cut out our wants and wishes until such a time that the needs are all being filled.
He was saying that in a stressed financial situation, government funding of PBS and things like it must go. He’s right! I was pleased to hear someone who wasn’t afraid to say the hard stuff. Too many make promises they can’t keep because that’s what the people want to hear.
By the way, he didn’t say he was going to get rid of PBS, he said that he would cut government funding. It will still continue thanks to grants, corporations and viewers like you. That’s the view from my side of the street, what’s yours?
To budget means to set aside monies for assigned purposes. There are many good books written to help but I am going to outline the easiest way I’ve ever found. All the things that would take your money can be put into one of three categories- needs, wants, and wishes.
A person, family or government would be wise to make sure that needs are filled first. If there is still money in the till, a few wants might be fulfilled. If you persevere, there may come a time when some wishes can be filled.
In the crazy mixed up world of today, many are filling wants and wishes first, leaving no money left for needs. This creates financial crisis. To get back on our feet whether as individuals or governments, we must stop putting the cart before the horse. We must forsake our wants and wishes. We must focus on our needs until the time comes that they are all being met easily and then, only then, start working on some wants.
Of course, this plan depends on having the ability to truly be able to tell the difference between needs, wants and wishes. Here’s an example- I’m fat and need to get in shape, I wish I could hire a personal trainer, I want to join a gym, I can’t afford either one so I filled my need with a couple of workout DVD’s and a pair of walking shoes.
Here’s another- I have an old washer/ dryer set. They work but I’d really like a more updated set. I’d LOVE to get one of the fancy front loader sets that do everything but the dishes. I don’t need a new washer /dryer set right now. I just want one. If the ones I have stop working, my want will have jumped to the need spot but unless I’m better off when that happens, I won’t get my wish of the fancy front loader. I’ll get the best I can for what money I have at the time. Are you following me?
So despite all the jokes and memes that popped up after the presidential debate pitting Mitt Romney against Big Bird, I knew exactly what he meant when he said he would stop federal funding for PBS. In our overtaxed budget (pun intended) we must cut out our wants and wishes until such a time that the needs are all being filled.
He was saying that in a stressed financial situation, government funding of PBS and things like it must go. He’s right! I was pleased to hear someone who wasn’t afraid to say the hard stuff. Too many make promises they can’t keep because that’s what the people want to hear.
By the way, he didn’t say he was going to get rid of PBS, he said that he would cut government funding. It will still continue thanks to grants, corporations and viewers like you. That’s the view from my side of the street, what’s yours?
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