Tuesday, January 4, 2011

Why Budgets Fail

NY Times has an interesting article about a guy who is devising a wallet that makes it harder to open when the bank account goes low. People have no self-control and as an analogy to dieting, plans fail. So we need other types of safe guards. This is one. I'm not sure how effective this is or how secure it is for a wallet to always be connected to a bank account but I guess we can always try...

I think budgeting and dieting are very similar since both require discipline in maintaining and sustaining a reasonable lifestyle. Are people now less disciplined? I doubt it, I think it is the ease of use that is making things harder to control. In the past, money came in a physical form, now it's all virtual and credit. In the past, we actually had to spend hours cooking our food and then finally eat it.. now, there is fast food, restaurants, and other high calorie, FAST service foods. Too easy to access and too easy to forget your plans.

What's next? I see all these gadgets and electronics are going to make us dumber... it used to be we have to do calculations in our heads or memorization of facts, etc... now, it's all on the tip of our fingers... Making things easier is not going to make us better. It is when you undergo physical, mental, and spiritual training, that's when you will produce a more financially stable budget, a healthier and leaner body, a more gracious and thankful person. I hope your desires for this new year is not to continue in laziness, but a renewed sense of who you are and where you belong on this world. Strive to do that which is hard or in some cases impossible.

What can a budget (or a PLAN) do for you?

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