Financial Freedom Friday
Budgeting: It’s a word we love to hate.
Keeping a budget may feel like being on a diet. We feel restricted or unable to spend the way we want. We may think that following a budget we have to give up stuff or stop doing things we enjoy. But honestly, a budget gives us a plan for our money. We know when to spend, and when to hold back. That way at the end of the year we don’t wonder, “Where did it all go?”
Restrictive or a plan?
Most people avoid following a budget because it takes time. They avoid the additional work – just like cutting the grass, they put it off. But in the long run, by avoiding a budget they keep themselves stuck in a vicious cycle of chasing money. Having a budget is about working smarter, not harder. It provides clarity, peace of mind, and the ability to reach your financial goals. Who doesn’t need tools to enhance their life, right?
Benefits of Budgeting
1. Helps you focus on your money goals
Instead of looking at a budget as something that is restrictive, look at it as a plan for where your money goes. You probably know what money is coming in, now you get to decide how that money is allocated towards what you need and want. If you are working with limited resources, then budgeting can make it easier to make ends meet. Spending frevilously leads to frustration and stress when bills can’t get paid. By focusing on your money goals, the Universe will provide more once you have proven you can handle what you already have.
2. Gives you control over your money
Following a budget helps you understand where your money flows. It puts you in the driver’s seat versus being driven by money. Managing your money provides a sense of peace. You may feel that you have more control over your life by managing money. Money is an energy. It is a medium of exchange. It isn’t real. Yet, when we crave it, or what we believe it will provide for us, we enslave ourselves to it. By having a budget, you are no longer a victim of whatever scarcity system you’re tied into. You reclaim any power money has over you, and can consciously create the life you want.
3. Getting past “There’s never enough”
Following a budget helps you be mindful and conscious that you have enough. It may not be everything you want. But by mindfully recognizing that you have enough, you consciously plant seeds in the subconscious that your needs are being met. Then you are operating from a frequency of abundance instead of scarcity.
4. Enables you to spend – guilt and shame free
There is nothing more limiting than feeling guilt, shame, and regret. These emotions keep your frequency low, causing you to repel or reject money. I know, it may seem weird to think that you may be rejecting money! But we do. Since money is an energy, you attract the money that you believe you are worth. So if you’re projecting scarcity, guess what you’ll attract, more opportunities to feel that there isn’t enough. If you feel guilty or ashamed for your spending, the same thing happens, you stay in the same pattern feeling guilty or ashamed for whatever you buy. You could feel that since you can’t handle the money you have, why should the Universe send you more. But this is a myth that keeps you stuck in “not being enough.” By following a budget you can spend on items that are aligned with your budget. You can still go out to eat, or buy a pair of shoes, you just want those spending habits to fall within the parameters of your budget. So if you want to be a millionaire, start feeling like one!
5. Alerts you to potential problems
When you follow a budget, it provides clarity and helps you see the bigger picture. When you stray from the plan, it can be an early warning sign to other issues that money can’t fix. First, you could overspend to compensate for feeling “not enough or inadequate.” Second, it could be an addiction. I’m sure you’ve heard of the term “retail therapy.” But does it really make you feel better in the long run? Money will never fill an emotional void or make you feel better about yourself. In fact, overspending could cause you to feel worse. By following a budget you can get clues into unresolved emotions you’re harboring, or overcoming feeling deprived in some way. By looking at the emotional issues behind your spending habits, you can find other ways to resolve them instead of adding to the problem.
In the end, having a budget is simply a plan for the resources you have. By showing the Universe that you can manage what you’ve got, you’ll feel more confident and have clarity. As a result, it may help you raise your frequency and attract more money to you.
Wishing you all a wildly abundant week!