Budgeting

Controlling Spending.

Tom Kjar

You know what’s so hard about controlling you spending? Believing you can’t control your spending. You can. https://www.daveramsey.com/blog/the-cure-for-excessive-spending

Here’s the truth. Controlling spending isn’t hard. It takes courage and commitment. And some help, if and when you need it. That’s where we come in. Say the word and the personal finance professionals here at Creighton Federal https://www.creightonfederal.org/ will actually sit down with you, analyze your spending and work with you to get you where you need to be.

The process might not be entirely painless. But any pain will be temporary. The peace of mind and confidence you’ll gain will be worth its weight in . . . you fill in the blank.

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How to Decide Whether or Not to Buy That Expensive Whatever-It-Is.

Tom Kjar

Deciding whether or not to make an expensive purchase and go on the hook for a lot of money is one reason Tums are so popular. Big ticket decisions involving lots of zeros after the dollar sign shouldn’t be decided on a whim.

There are tons of online lists of “Dos & Don’ts” to help you, so help yourself. But also think about it. Give yourself the time and mental space to make a good decision. A good decision for you and your situation, not just now but in the time frame it’ll take you to pay off the debt you’ll carry.

Five years to pay for a new truck or SUV? Well, is your job secure? An unplanned pregnancy, maybe? An aging parent or a dependent child with health complications that could turn your financial world upside down?

Should you stop spending. Absolutely not. Should you understand credit and how to manage it and be aware of what you’re getting yourself into? Absolutely.

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Reassuring Words About Setting Up a Budget

Tom Kjar

I’m not going to lecture you on why you should create and stick to a budget or how to do it. There’s plenty of information online and elsewhere for your reading pleasure.

No, instead I’m going to give you the single best reason to create a budget for yourself. And that reason is Freedom! The personal freedom that comes from not worrying about money. At least, not as much and, maybe, not at all.

Fear of running out of money before the next check is deposited is like a black cloud that follows you around. You can’t shake it, just like you can’t shake the fear of running low or – OMG – out of cash. Budgeting won’t put money into your checking account. It’ll keep money in your checking account and that’s just as good.

Here’s another good idea. Create a reasonable (as in do-able) budget and stick to it for a week. It’ll be easier than you think and you’re liable to find some “Buried Treasure” in your account when you’re done.

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