Budgeting… that’s where the fun begins!
When it comes to financial planning, one of the very first topics I dive into with new clients is budgeting. And it’s not always easy, because budgeting often gets a bad rap.
Sure, it’s right up there after we’ve tackled the essentials like Wills, Powers of Attorney, Life Insurance, and Income Protection. But budgeting, oh, that’s where the real fun begins.
The Simple Math That’s Not So Simple
The concept seems straightforward: you earn £100, pay £40 in tax, handle your bills of £30, and voila – you’re left with a neat £30. But here’s where it gets intriguing. Ask anyone what happens to that leftover £30 each month, and you’re often met with a shrug and a baffled “I have no idea!”
That’s when I know it’s time to don my financial detective hat and start tracking those elusive pounds.
A Global Phenomenon of Forgotten Funds
Chatting with people around the globe, I’ve discovered a common theme: many don’t track their outgoings and lack a proper budget. Whether you’re in London, Paris, New York, or Johannesburg, this seems to be a universal phenomenon. But fear not, rectifying this doesn’t require rocket science. It can be as simple as setting up a spreadsheet, using a budgeting app, or getting a little help from your friendly neighbourhood Financial Planner (me!).
Here’s a little secret: When I recently updated my own budget, I was floored by how much I was spending on my girls. No, not my human family – I’m talking about my flock of chickens.
They’re cute, they’re feathery, and as it turns out, they can eat through a small fortune in seed! It was a lightbulb moment for me. If something as simple as chicken feed can slip under the budget radar, imagine what else could be lurking unnoticed.
So, if you’re pondering where your own ‘chicken feed’ is going, or if you’re just looking to get a firmer grip on your finances, I’m here to help. Budgeting is more than just a task; it’s an enlightening journey into the heart of your financial habits. And trust me, it can be quite an eye-opener.
For a chat about your budgeting strategies, or any aspect of your Financial Planning, don’t hesitate to give me a call. Together, we’ll ensure that not a single pound of your hard-earned money goes unaccounted for – even if it’s just for chicken feed.
