Budget Sense

Welcome to BudgetSense.ca

We are not about to take more time from your already busy time online. But you have to realize that the time you spend on our website will actually help you save money, whereas time spent on other websites such as Facebook will only help you kill some time, and maybe help you score some virtual friends.

We are here to help you make the most out of your finances, through budgeting and the wise and useful spending of your money. We all agree that prices of almost everything is going up, but of course, our wages never keep up. I am here to help you keep up.  Notice that I change the tone of the speaker from plural to singular, back and fourth, and that is because while there is one main blogger, occasionally we do have some guest experts on this subject matter of budget financing. You may read more about our website and the people behind it on our “About” Section.

When reading our articles, we want you to make note of the following 5 tips and principles, which can make the difference between a rich and a poor life. These following points are repeated throughout our articles and blogs and are like the lifeline of financial success. They are to finance what ‘laws of physics’ are to nature.

Five Principles of Financial Budgeting Success
(according to BudgetSense.ca)

1-Every bit helps: as easy as it sounds, but as powerful as it can get. In other words, the sum of the parts is more important than each individual part alone. Not buying a second cup of coffee in the afternoon at work can probably only save you 7 bucks every week, but if you were to also skip that unnecessary trip to the vending machine every morning, cut on buying lunch, you are looking at a collective savings of some $50 a week or $1300 a year. So the bit (not buying a second cup of coffee) is only a saving of some $150 a year, but combine that with other small savings here and there and you are looking at significant savings.

2-Patience and Discipline matter: without these two, you simply can’t commit to a budget. You need patience for long term financial results and goal settings. You need discipline to help you get there. The best analogy we can use to make this simpler to understand, is to compare it to dieting and weight loss. If you want to lose weight, you should be patient and discplined, and not expect results overnight, especially if you have been careless with your body and diet. The same applies to personal finance and budgeting. Unless you are lucky enough to win a lottery, there is no shortcut to a better financial future.

3-Role of Psychology: beside the need for patience and discipline, psychology and its various concepts have a great application in budgeting and personal finances. First and foremost, you need inspiration and motivation to keep you going. For example, to motivate you to save more money for your future dream car, it helps to have a big picture of that shiny card in front of you, whether at your home computer or at the office.  You can also get inspiration to keep going towards your goal by talking to others who have achieved success and gain some positive energy and experience form them.

4-It is not about being cheap, it is about being efficient: unfortunately, society can’t differentiate between being efficient and resourceful and being cheap.  The latter category of people is simply despised and looked at with suspicion.  But a person wanting to save their money may not be cheap.  Unless we know more about their life,  we don’t have the right to accuse them of being cheap.  We can live a great financial life without having to be cheap. It is all about efficiency and resourcefulness. While we do preach about the need to sacrifice at times, this doesn’t mean to deprive yourself of life’s necessities or starve yourself to death in order to save some money.

5-Budgeting: Last but certainly not least, is ‘budgeting.’  Our whole website theme is based on budgeting, so we can’t ignore this one.  Without budgeting, your finances will be all over the places and you will often end up spending your paycheck in the first few days, way before the next one is due. To get to your financial goals-or even get out of debt-there is simply no substitute for budgeting.

If you keep these 5 principles and points in mind, while reading our various articles, the results will be easier to come by and you will appreciate it all.  In fact, you will notice that we utilize and apply these principles in almost each one of our articles, with examples and anecdotes from real people and stories.

We encourage you to interact with us, leaving us comments, feedback, critique of what you read, etc. And if you would like to contribute by posting your own blogs, please let us know.