A Goal Oriented Budget - CWHO - Commonwealth Home Ownership
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A Goal Oriented Budget

What is the best way to use a budget well typically people will sit down they’ll create a spreadsheet they’ll plug in all their expenses and of course their income do a calculation and say “Ok, this is how much money we have leftover or we don’t have leftover” at the end of the month and they start changing things around within the budget to make the budget work to a point they think is gonna generate some savings or some more income or more disposable income so here’s the problem with a typical budget a lot of the time it’s not goal-oriented, there’s no specific goal that someone might be working towards when they set that budget up so they got two weeks down the road and they say well “where’s all my money going”, “I planned to have this much money, I was going to save this much but their spending habits don’t necessarily change and they don’t have more money than what they started with. So if you’re going to create a budget, create a budget that is goal-oriented and it also needs to be realistic based on your habits, so if you’re not going to change your habits well then its likely your budget is not going to work so it takes a level of commitment to change your habits to actually work towards the budget that you create.

-Brad Price

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