Your Financial Fortress
A prudent person must always defend their financial fortress against the continuous onslaught of unnecessary spending temptations.After reading fellow blogger Roshawn’s post called Financial Backbone Round Up and Uncommon Money News, it made me realize that to achieve financial security/stability, not only are we bucking what the popular media and commercials trends state that we should be doing with our money, but we are in a continual fight with foolish financial temptations!
Our Weapons
The best tool that we have for defending our Financial Fortress is a trusty spreadsheet program and/or special financial planning software. These tools enable us to created a budget which in turn, increases the likelihood that we keep our lifestyle spending in check!
The Enemy
Everywhere you turn, you are constantly being seized upon by financial spending temptations. On the roads driving, ever now and then, you’ll see a Maserati and think to yourself “I want one” or perhaps you’ll be on vacation driving along the coast and you’ll see a yacht or even a private island for sell and think, “I want one“.
The key to remember when you see such temptations is that even though we are constantly bombarded with many tempting and exciting offers, we must only purchase those things that are financially possible given our current financial plan.
Battle Plans
We should all strive to have a perfect financial balance by creating a budget for the entertainment and fun stuff in our financial plan. That way, we have an absolute financial number that we can use to determine how much to spend on the wants in our lives in addition to the necessities!
What desired wants are constantly pounding against your financial fortress?
-MR
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I agree. The budget is a surprisingly powerful tool to keep your spending priorities in line! Thanks for the link!
Yes, a budget is a great way to control temptation spending! I’m naturally frugal, so I don’t use a budget, but if I did, I’m sure I would be able to save even more than I currently do 🙂
While I am frugal too, a budget helps me keep my priorities straight, especially when those not so frugal urges come. I can’t really comment on how natural my frugality is though.
My name is Shawn and I sometimes like stuff 🙂
That stupid Sony store I walked into 6 months or so ago is always beckoning me to buy another tv. (Not that I would buy from the Sony store…)
I am not sure what I will do…
You’d laugh if you saw my 32 (or is it 36) inch CRT TV. I’m starting to feel like it’s an antique…
Same day I’ll take the plunge!
I’m curious how many flat screen TV’s you have…?
Don, you feeling tempted given your lack of debt??
The temptation is always there, and it’s so easy to slip into that pattern. I think it’s kind of like Pandora’s box, one the lid is off, you’re usually in trouble. 🙂
But I think if I go into debt, it would have to be for real estate! I’m still very tempted by that type of investment!
Financial software can be a great help for us to track down all of our earnings and expenses as well. However, we must focus first on how to discipline ourselves or for us to be aware of our spending habits. Otherwise, these software will be useless.
Very true, just using budgeting software doesn’t teach responsibility.
But using such software does support those that are learning to be responsible.
I’m interested which budget categories you beefed up since your mortgage got paid. Do you care to share that info?
After being a bit loose with money (mainly because of vacation and car/equipment problems), I’m trying to channel as much as possible towards investments.
This would be a great topic for me to blog about, so I’ll try to reply to your question in tonight’s blog post!
Thanks for the idea 🙂
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