The Ten Commandments On Becoming Financially Free.

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INTRODUCTION
Every things we buy usually have literature, i.e. the manual on how to utilize that particular product. For instance, all our gadgets come with a manual that explains how to make use of them. But unfortunately, our salary or the profit made from markets does not have manual on how to spend it and that is why you need this piece in order to be financially free. Consider it as a manual for your finance, your financial life and the must read manual for making an investment.

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FIRST COMMANDMENT

BUDGET CREATION
Firstly, what is budget? Budget is an amount of money or resources earmarked for a particular institution, activity or time-frame. In other word, it can be said to be an itemized summary of intended expenditure usually coupled with expected revenue. The first commandment is budget creation which covers both your incomes and your expenditures. You need to create a budget before even receive the expected salary or the money in question. This helps you a lot to know your income and set a plain record of your expenditure. However, the budgeted money should be spent accordingly when such cash is at hand, you must strictly follow the budget. Budgeting is an indispensable element for saving money simply because it saves you from unimportant spending of your hard-earned money. Thiruvalluvar, A Tamil renowned poet lays more emphasis on budgeting in his following lines: "Incomings may be scant; but yet, no failure there, If in expenditure you rightly learn to spare. (Kural :478)
" Whose prosperous lives and enjoyment know no bound, His seeming wealth, departing, nowhere shall be found" (Kural:479). Oftentimes, Failure to create a budget eventually sends you into financial slavery, which could drench all your resources in a jiffy due to the un-planned and spontaneous spending of money. For you to be financially free, budget creation is an inevitable factor to be considered before spending a penny out of your resources. Budgeting at times may fail in first instance like other spheres of life do fail such as exercising, jogging etc but when you know what awaits you from budgeting you will have to do it again and again. You will need to enlist all your expenditures and carefully distinguish between what you want and what you need. Generally, most of us do not really know there is difference between 'Needs' and 'Wants' which consequently send us to financial slavery. Budgeting, as many people think is like cutting off fun from one's life whereas budgeting is not cutting off fun in one's life but cutting off irrelevant spending of your hard-earned money. You have to detail every bit of your financials during the budget creation, by doing this, you will figure out the mode of your spending if it is right or wrong. Outline all your sources of income; daily, weekly, monthly or annually then calculate what you realize from each source, this will give you an insight of what you earn. The budget should have the highlight of every financial spheres of your life even to the extent of the cost of cotton wool, the only exclusion is 'Debt Budget' which contains all the debt you are to pay out, this is another commandment entirely. Moreover, budgeting is so imperative for anyone who wishes to gain financial freedom because it aids to reach a state of conscious allocation of fund and anyone who used to spend consciously is already on the right track of becoming financially free.
The question in your mind could be why my first or earlier budgeting failed.
I will just tell you that it is normal, budgeting is not a one-day job it is a process of gradualism. Normally, we start budgeting process with a genuine and reliable motive but after some months we just discover that it derails. I'm telling you again that it is a normal phenomenon. All you need to do before creating another budget is to know the approaches and behavioral aspects of budgeting. However, the approaches can be seen below:

Expectation

 Your expectations should be limited to a certain point, when you expect more than what the budgeting will bring as outcome or result, it will automatically make you lack interest in creating budget. Remember that budgeting will not result or work out as miracles, it is like going through a particular training or exercise which you can not become an expert within a day. It requires constant practice and that will eventually lead you to perfection.

Don't kill your expectation

Budgeting may not yield as expected (stipulated time) it does not mean that it is not well budgeted. On the other hand, if the stipulated time elapses and your expectations are not yet met, the only thing you need is to patiently wait if it will later yield as expected or not. Killing of expectation is usually occurred during the long-term budgeting, this however suggests why you should start your budgeting (as a beginner) on a short-term budget practically within the range of 18-24 months.

Positivity/Negativity

Do not focus on negative aspect of budgeting, focusing on negativity usually kills the spirit of reaching the destination safe and sound, rather focus on positive sides and this would make you free from debt, having extra money for relaxation and so on.
If you carefully study the above approaches, I am happy to inform you that you have definitely made a successful budgeting. Reason been that, several people from the walks of life discover that they spend their money on what they do not really need or want, writing down your expenditures would crystal answer the question 'Am I spending on what I need or what I want’? Budgeting is the master key to the other financial freedom tips, creating it motivates you and ensures you to stick with the other financially free commandments. Stick to the spending plan you drafted and never allow anything out of it, although there could be some extemporaneous expenses which are not stated in budgeting but make sure you record them immediately and try to avoid such expenses as much as you can. If you can strictly adhere to your budget, you are already holding a liberated sword to free yourself from financial slavery.

Watch out for the next Commandment. Stay tuned

The Ten Commandments On Becoming Financially Free. | Ecency