March Madness – Needs Vs. Wants

Millions of brackets have been filled out. The greatest tournament in sports is back.

March Madness is all around us. Now that the calendar has turned to March, we’ve already seen Selection Sunday and the beginning of another edition of March Madness.

Here’s a question for you. How are your financial brackets doing?

More specifically, the match up game between your needs and your wants. Is your bracket busted by the first of each month? Or does it survive till the end of the month.

To ensure your bracket can make it each month…

Make a list of all your expenses and highlight all of the wants.

Next, make write down each want in order of importance on a separate piece of paper.

Now I suggest you cut out the bottom want this month.

Next month you can cut out the second to last want.

Then keep repeating this step until you cut at least 50% of your wants out of your budget.

You’ll see that you are able to breathe easier, and have a lot less sleepless nights.

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Please share your comments and questions