The majority of our clients make a very good income, yet many find themselves struggling to get ahead financially. Time and again one of the first things we’re asked is; what am I doing wrong?
Most have tried to stick to a budget with little success, so the question is; why do budgets that work on paper, fail to work in practice? We’ve identified five reasons that contribute to budget frustration.
1. Unrealistic or Missing Numbers
Many of us underestimate how much we actually spend on everything from groceries and gifts to dining out. We also tend to forget to include expenses like annual credit card fees, Halloween candy, iTunes, Netflix, school field trips, school lunch programs, Costco memberships, and charitable donations.