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home | Budgeting for Wealth
 

Personal Success Relies Heavily on Budgeting, Which Most People Hate to Do.

Gary North

There are three major budgets in life, in order of importance: time, money, and calories.

The world puts these in reverse order. There are more diet books and diets than there are money-management books and strategies. There are time-management books and tools, but there is nothing comparable to Quicken or Microsoft Money in terms of general use by the public.

Yet in terms of lifetime success, time-management comes first, money-management comes second, and calorie-management comes third.

Note: If you are obese, you will find it difficult to get an entry-level job that serves as a career path. You must then master the first two budgets, so that you can start your own business.

Most people are unclear about their long-term goals. So, they are not highly motivated to budget. They tend to procrastinate when it comes to goal-setting and budgeting.

Budgeting should begin with goal-setting. Setting goals is like investing. Budgeting is like saving. They are inter-related, but budgeting should begin with this question: What do I want to do with whatever I save?

Before you begin to budget your time, your money, and your calories, get clear, specific answers to these three questions:

What do I want to achieve?
How soon do I want to achieve it?
What am I willing to pay?

To be a success, you must first answer these three questions clearly and in a detailed fashion. Then you must adopt a parallel three-part strategy of performance:

Do what you said you would do . . . or more.
Do it on time . . . or before.
Do it at the price agreed on . . . or lower.

There is a very useful page of calculators posted here. They can help you greatly with your budgeting.

The first five entries are permanent. I want every new member to read them. After them, postings are from latest to oldest.

(If you have not subscribed to my free Tip of the Week report, do so today. The subscription box is on this page.)

Handout or Helping Hand: Which Is It?
Gary North - January 26, 2015
Don't give handouts. . . . keep reading
The Case for Hiring a Teenager
Gary North - January 21, 2015
It's a matter of the time-money ratio. . . . keep reading
Say "No" Graciously When Asked for Free Financial Advice
Gary North - January 17, 2015
Free advice is worth twice what people pay. . . . keep reading
Mine Was the First TV Generation
Gary North - January 01, 2015
I got there first. Let me share some insights on the use and misuse of TV. . . . keep reading
What Not to Buy in 2015, and What to Keep Buying . . . at Some Price
Gary North - December 30, 2014
The experts are very often wrong. . . . keep reading
Zero Interest Rates and Personal Saving
Gary North - December 05, 2014
The savings rate has fallen. But it is not as low as you might guess. . . . keep reading
On Not Imitating Burt Reynolds
Gary North - December 04, 2014
He is selling off 600 memorabilia. . . . keep reading
Money and Happiness: The Latest Findings
Gary North - November 11, 2014
This has to do with the hedonic ratchet. . . . keep reading
Nesting Syndrome and Foreclosure Risk
Gary North - October 09, 2014
American wives do not understand the word, "foreclosure." . . . keep reading
Professional Football and Capital Consumption
Gary North - September 22, 2014
Consider attending a big game. Run the numbers. . . . keep reading
Preparing to Get Fired: The Painful Exercise
Gary North - September 15, 2014
Most people will never go through this exercise until they are forced to by a pink slip. Go through it now. . . . keep reading
The iPod Bites the Dust. I Missed Out.
Gary North. - September 15, 2014
Time marches on. Digital technology comes and goes . . . fast. . . . keep reading
A Lot of High Income People Have No Financial Sense
Gary North - September 09, 2014
This video proves it. . . . keep reading
Investment Advice from a Jewish Grandfather
Gary North - August 12, 2014
There is no single investment rule better than this one. . . . keep reading
Escape from Debt
Gary North - July 29, 2014
A site member wants advice. . . . keep reading
Outsourcing Household Tasks
Gary North - July 21, 2014
You must do this. But to whom? At what price? . . . keep reading
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