Sticking to a Budget

Lalitha learns how to "live" on a budget from Dave, not just "do" a budget.

QUESTION: Lalitha is living paycheck to paycheck and wants to break the cycle, but can't figure out how. Dave tells her there's a way to control her money – budgeting! Dave teaches the difference in "doing" a budget and "living" on a budget

ANSWER: I think you have got to get on top of the money instead of the money being on top of you. You have to do some things to get on top of the money physically and emotionally. You do that by doing a budget. Sit down each and every month before the month begins, with that month’s bills and money, and tell your money what to do.

Once you have it written down, it becomes your game plan. Don’t do anything with that money except with how it’s written on the paper. If you were driving from Dallas to Tampa, you’d get a map and plan the way. Do the same with your money.