Burden-Free Budgeting
Posted on September 11, 2010 by Kelly Griffie, One of Thousands of Money and Finance Coaches on Noomii.
Many people cringe at the word...budget, however, budgets can be, dare I say, good?
When most of us think of budgeting, our brains respond as if we’ve been placed in handcuffs, had our wallets emptied and told to go out and make it in the world. Even though budgets feel and sound restrictive, it’s actually the opposite. A budget means that I have taken control of my financial life. No more tail wagging the dog.
First, the purpose of a budget is to show us where our money goes and give us an opportunity to redirect it, if necessary. Once we know what we spend money on, we are better equipped to make decisions on how and where to spend in the future.
Next, the budget must be realistic. If you spend $300 per month on groceries, it is probably unrealistic to cut that to $100. Maybe the grocery budget can be reduced with coupons, sales, etc. That is much more realistic.
Finally, it is okay to spend money on fun. Yes, we do not normally think of “budget” and “fun” in the same sentence, but they are interdependent. Budgets are frustrating if you do not include money for fun. Fun doesn’t exist if we don’t account for it in our budget.
Following these steps will lead you to burden-free budgeting. Happy Budgeting!
