Budgeting – a nine letter word that majority of the people hate. I’m different in the sense than the majority. I’ve never been the type to follow the crowd or a crowd please-er. I am uniquely “me”, different from you and from the rest of the majority out there. One key difference about me is that I enjoy budgeting. Sure, I have a love hate relationship with my budget at times when money gets tight and I can’t balance my budget, but 99% of the time I enjoy budgeting. Budgeting gives me a sense of fulfillment. Knowing where my money is going and how much I’m stacking away from every pay gives me a peace of mind.
I’m actually not here to talk about budgeting. God only knows how many times I’ve already done that on this blog, with posts such as; Why do you budget? , Do You budget? and the Importance of paying your self first. I’m actually here to talk about getting rich. My goal (and your should be too) is to have more money coming in than money that needs to be spent, therefore making our selves rich.
Becoming rich is more of a formality than anything. Rich does not have a final number associated with it, but rather it’s a feeling. Feeling rich in terms of money is something that very few people get to experience. That’s not to say that none of us are rich. In fact we’re all rich because we have something unique about our selves. This could be our family, friends, education, general knowledge or even the investments we hold.
Becoming rich means conquering your budget. Being in control of how much money you bring in versus how much money you send back out. However, there is more to this equation! No one became rich through penny pinching. If you ever had the opportunity to ask a wealthy person or read a biography of someone wealthy, you’d realize that they didn’t become rich through only cutting back.
The rich don’t become rich overnight, but rather they became rich (or well off as I call it) with a two sided equation; careful number crunching (budgeting) and boosting their income year in and year out.
Careful Number Crunching Only Takes You So Far
When I first started budgeting, I looked at the simple ways to cut things out in order to decrease the amount of money I was spending. And believe it or not it worked miraculously. I was (and still am to some degree) in debt and wanted to shift my focus to becoming debt free. I made sacrifices of switching to cheaper internet, driving less, eating less meat (cheaper grocery bill) amongst other things. I even went on a cold turkey on shopping with my 127 day shopping ban.
So, were all the sacrifices that I made and some that I’m still making worth it? Absolutely they were all worth it. If they weren’t I would have not made the sacrifices. Becoming credit-card debt free in 347 days made it totally rewarding and it gave me inspiration to continue going forward.
I continued to enjoy the life I had before, except on a smaller scale. The days of going shopping on a credit card were long gone and instead I was carefully budgeting each grocery, clothing and any other shopping trip. I didn’t have the fastest internet anymore. Did it make a difference initially? Yes, but I got used to it and almost two years later I don’t even know that fast internet exists anymore, simply because I’m happy with the internet speed I have now and more importantly paying $29/month for it versus $65/month I paid before.
However, I’m not going to lie to you. If you’re a regular reader of my blog, you know well that I’m brutally honest. Everyone likes it for the most part, while other times it does get me into trouble. I didn’t become credit-card debt free by only cutting back. I wanted to eliminate my credit-card debt ASAP and knew that cutbacks ONLY were going to take me so far. And in order to reach my goal of becoming credit-card debt free in a year I decided to bring in more income.
This brings me to the second part of the two sided equation.
Everyday I’m Shuffling….I mean HUSTLING
I knew that in order to defeat my credit card debt that I had to bring in additional income. So, I became a hustler….sort of anyways. I started this blog (earning cash on the side), used this blog as a way to keep me responsible and finally expanded my commercial cleaning business into a full fledged business.
I eventually started working six days a week and putting in 70 hour work weeks consisting of my full-time job, this blog and my cleaning business. I wanted to work as much as possible to keep my self occupied – more work = less time to spend money.
In less than a year I managed to take control of my finances, pay off my credit card debt and even saved a few thousand dollars. None of this would have been possible without some side hustle. I’m certain that without my side hustle that I’d still be paying off my credit card. Budgeting only took me so far, and as much as I’m a religious budget-er, I needed extra income to fully accomplish my goal.
My Final Two Cents…
I’m a huge believer that the more money one earns, the more important their budget becomes. Those who fail to budget end up quickly on the bottom again. Take for example NBA, NFL, NHL and Hollywood Actors who continue to declare bankruptcies despite all the millions earned throughout their careers.
Budgets are not a drag, at least not to me, and it shouldn’t be to you either. A budget is like a wing-man to your money. When put together to work, they’re a great one-two punch.
I’ll admit this to you as well…..
I didn’t like budgeting when I started my out of debt journey. It was a pain in the rear end seeing my money go towards my debt mountain. Eventually I started liking budgeting more and today I can’t see my self without my budget. Now I enjoy and relish getting into my budget because it’s fun to disperse my money to my investments, savings and purchases.