Thursday, December 29, 2011

Do the Hard Thing: Budget

I've worked in Political Communications for about a decade now. For all of those 10 years, I've heard politicians use one line when they discuss unpopular budget cuts:

"The economy is rough. Every family is sitting at their kitchen table right now, making cuts to their family budget. We are called to be financially responsible, too."

I completely agree with the sentiment. Government should spend, at a minimum, what they bring in but should also really only spend what they need and return the rest to taxpayers.

However, how many families are really tightening their budget? How many have a budget?

Many conservatives like to say the debt Washington politicians have accumulated is "passing debt to our grandchildren." Personal debt may be even worse. You're mortgaging your future dreams for your current passing fancy.

Ten years from now, I may decide that my life long dream is to open a restaurant, open a business, or move to Colorado. By then, I may be able to travel to the moon. When I decide what those dreams are, I want to be in the financial situation to make them happen.

If you're struggling with personal finance, now is the time to take control. Remember, spending more than you take in is only spending your future.

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