Finance Roll

When it comes to your finances, you really have a simple decision to make. Do you want to keep going the way you are right now? Or would you rather have money in the bank, retirement in the works and the things you really want?

If you would rather have the money over your current lifestyle, I don't blame you. But how can you get there?

There is one way -- budget. I know you probably automatically think of a miserly person who is a tightwad when you think of frugal living. But it really is the key to getting everything you want out of life. The definition of frugal living is that you get it for less. Not that you don't get it at all. Just that you get it at a lower cost. All too often people assume that budgeting and frugal living are only for poor, low income families. But even the wealthiest companies budget and practice frugality.

So start looking at it in a different way. A budget and frugal living is a business decision that gets you where you want to be. It is simply a way to organize and manage your finances. We often get caught up in wanting more. We want new cars, designer houses and the trendiest clothing. We don't want to seem like we aren't rolling in dough, so we spend our money on the things we think reflect wealth. And above all, we don't want to appear as if we have no money.

But that spending carelessly actually results in having no money. You might feel good temporarily, but one day you will realize that you have no wealth at all. No savings. No investments. No retirement. Only debt and living paycheck to paycheck.

Wealth has nothing to do with how much you make. It is how much you accumulate. Companies that make millions are not wealthy if they spend billions. The same goes for the everyday consumer. A wealthy person saves their money and makes wise financial investments. They budget and spend in a frugal manner. In the long run, their goals are fulfilled. Those that spend on everything they want when they want it aren't left with very much at all. But debt.

So you have to make the decision. Your income doesn't matter. It is how much you spend. It is in your budgeting and frugal living. Ask yourself which you would rather have: that brand new leather furniture or a comfortable retirement? Sometimes you have to make these decisions. However, with wise saving you could have both -- just not right now.

You have to set goals for your family. Do you want to retire? Send your kids to college? Where do you want to be in 10 years? Do you want to lower your bills and reduce your debt? Do you want more time with your family and less time stressing over your financial situation?

Figure out what your priorities and goals are. You have to want to reach these goals before budgeting and financial planning will work for you. Take the time to see how changing your finances could change your life. Then start on the road to successful financial management.