{"id":27108,"date":"2016-09-08T08:36:58","date_gmt":"2016-09-08T12:36:58","guid":{"rendered":"http:\/\/canadianbudgetbinder.com\/?p=27108"},"modified":"2025-01-20T08:00:28","modified_gmt":"2025-01-20T08:00:28","slug":"how-to-complete-a-budget-inspection","status":"publish","type":"post","link":"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/2016\/09\/08\/how-to-complete-a-budget-inspection\/","title":{"rendered":"Add 1 Cup of Budget Inspection And Watch Your Bread Rise : Our August 2016 Budget Report"},"content":{"rendered":"

DON’T MAKE THIS MISTAKE WHEN CREATING YOUR FINANCIAL RECIPE.<\/span><\/h2>\n

By mistake I don’t mean turning the oven on and burning your budget either as I know some people despise using a budget. I have nothing against you because what’s yours is yours and what’s mine is mine.<\/p>\n

Those of you who WANT<\/strong> to get RID<\/strong> of DEBT<\/strong> and build a thundering savings account and sizable retirement fund I have one unique financial tip for you-learn to read a recipe.<\/p>\n

I’m not the Mike Holmes of Budgeting nor the Jamie Oliver of the kitchen but I do know how to read a recipe and I do know how to use a budget. What I’ve learned is that it’s not about just the planning stage it’s everything in between and on-going maintenance similar to being a homeowner or naked Chef.<\/p>\n

Read a recipe and savour your budget<\/span><\/h2>\n

Once you understand the basics of a recipe especially when it comes to baking you will understand just how precise you need to be to have the best product. Finding a recipe you are interested in creating at home means you should read the entire recipe from beginning to end.<\/p>\n

Today we are going to bake a loaf of bread. Why bread? Well we often compare Money<\/strong> to Bread<\/strong> or bringing home the bacon. Either way for bread to rise you need to follow instructions, use the right ingredients and always keep an eye on the oven.<\/p>\n

The same goes with your financial situation because your budget will either make you happy or piss you off. The only reason a budget will fail is because you aren’t following it like a recipe and keep substituting ingredients that don’t work with it.<\/p>\n

In the process of reading a recipe your mind starts questioning whether you have all the ingredients, cooking utensils or the skill to complete the task. Most often you may get away with missing an ingredient but the taste will never be the same or the product may look different. Always consider your options with any elimination process.<\/p>\n

For example<\/strong>, if your goal is to save $1000 for the year but you keep taking money away from that savings goal eventually your bread recipe will flop.<\/p>\n

Substituting ingredients to enhance a recipe is a better option than leaving something out completely. You see every ingredient in a recipe has a job to do even something as simple as a pinch of salt to enhance flavour. Your savings category is there to enhance your financial security and without it you may feel punctured similar to a deflated loaf of bread.<\/p>\n

Once you decide you’ve found the best bread recipe<\/a> you purchase the ingredients you don’t have on hand or you prep your cooking station using what you’ve found in your pantry. Just remember that if you tell yourself that your bread recipe doesn’t need a certain ingredient it may not rise or taste the way you want it to.<\/p>\n

Taking the yeast out of a loaf of bread is like removing your savings category. You’ll end up with a flat pita or flat broke.<\/p>\n

Give rise to budget inspection<\/span><\/h2>\n

Similar to budgeting when baking you need to locate the ingredients to make sure that you can complete the task. A budget requires sifting which means every month you should complete a budget inspection to see what you can add, eliminate or substitute for best results.<\/p>\n

Keep in mind when you eliminate something from your budget just like a recipe you have to ask yourself three questions;<\/p>\n