What If Everyone Had A Budget? A Glimpse Into the Perfect World

A budget is vitally important in the lives of everyone. It tells how you manage your money, and where that money should be going each month. Without it, there is no structure to your financial well being. And yet, only 41% of Americans say they use a budget to manage their long-term financial plans. No matter if you have money, spend money, like money or hate it, everyone needs a budget. In a perfect world, everyone would keep a budget, and the world would run much more smoothly.

We’ll be happier.

If everyone lived on a budget, we’d all be happier. Not that money is what brings happiness, but when you live on a budget and the stress of the unknown, and the fear of the unknown is taken away, there is a peace that can be found. Living on a budget means you can find happiness in your ability to manage money. You can spend money within in the budget, knowing there is enough to pay the bills, and when you make a purchase, there is enough to cover it because you have researched and planned for it with the budget.

We find freedom.

Within the budget, we find the freedom to do the things we’ve always wanted to do. Rather than stretching our money and living beyond our means, outside of our income to achieve a lifestyle that it above what our income can afford, a budget accomplishes realistic spending. Once you have created a budget, and you are spending within your means again, there is freedom to do the extras without worry of overspending. You can plan for a vacation, and pay for it in cash. You can take your family to the movies, and not have to worry that it costs $150, because you’ve planned for it in the entertainment fund. When back to school shopping comes around, the clothing fund is full because the budget plans for that, and the freedom you feel to be able to buy clothes is greatly rewarding. If we all had a budget, we all would experience the freedom that it enables.

We accomplish our goals.

When we have a budget, we can set financial goals. And within the budget, we have the ability to manage our money to reach those goals. If everyone had a budget, we would all have the financial literacy to accomplish our financial goals. Everyone could own their own home, retire on time, travel, pay for college, achieve their dreams. Whatever financial goals they set to accomplish, they would be able to do because the budgets they built would allow them to do so.

Our economies would be healthier because our retirees would no longer be dependent on the working class for their incomes. They would be financially independent. Our students would be able to attend college, and get jobs after because they have the financial literacy to save for school and plan for their goals.

We get things done.

Imagine, for a moment, if EVERYONE followed a budget. Including, our national government. How much more effective would they be if the legislature had a budget to follow, and stuck to it. When there is a budget surplus, the economy grows. Interest rates are rising, people are investing. The government has an excess of income to be able to reinvest, pay off debt or choose another option. On a smaller scale, when we have a budget and follow it, we can make quick decisions based on the information we have. We get things done quickly and orderly because of information in the budget.

Overall, the budget is a good thing. If everyone lived on a budget, the world would be improved financially on a greater scale. When we started our budget, we found freedom in the ability to spend within the budget. We found happiness in the peace of mind. We found ourselves paying off debt at a rapid pace, accomplishing our goals quickly and effectively.

If you don’t have a budget yet, find out more on how to get started on one here.