The “B” Word Everyone Loves to Hate

By Carrie Sullivan

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At work, we look at the company’s financials and follow a budget consistently throughout the year, but what about your personal budget?  Have you ever been taught how to do a budget for your personal finances, and have you ever actually done a personal budget?

Empowerment and Freedom!

Many people hate the “B” word and avoid it like the plague because they think it’s restrictive and inflexible.  Budgeting is a tool to use to measure your finances.  You control what you do with your money, not your budget, just like you control what you eat, not your scale.   A budget can’t stop you from overspending anymore than a scale can stop you from overeating.

Personally, when I hear the word Budget, I think of empowerment and freedom!  A budget gives me the power to take control of my money.  It allows me the freedom to tell my money where to go at the beginning of the month, before I get paid, instead of waiting until the end of the month and letting my money tell me where it went.  

Enslavement or Empowerment?

Change your mindset about budgets and your finances.  A budget is a powerful tool designed to give you financial empowerment, not financial enslavement     

Financial Enslavement
Enables a Scarcity Mindset
(Ridged and Unsustainable)
Financial Empowerment
Fosters an Abundant Mindset
(Flexible and Sustainable)
– The budget is just a reminder of everything I don’t or can’t have
– I don’t have enough money
– I can’t afford to spend any money
– There’s never enough money 
– I have to cut expenses wherever possible
– I have to settle for cheaper items I don’t even like
– I don’t deserve to spend any money on myself for entertainment or enjoyment
– I feel stressed out & overwhelmed
– I’m a failure; I give up!!
– The budget offers self-awareness & empowers me to know exactly where I am financially.
– The budget helps me ensure my financial values & habits are aligned
– New awareness and knowledge offer clarity on my financial goals and future vision
– Allows me to look at my Opportunity Costs and make informed decisions with my money to be able to plan for items I really want & will  appreciate

Your Financial Destination Roadmap

A budget makes you more aware of your financial status and allows you to make more informed decisions with your money.  It’s like the GPS in your vehicle.  The GPS cannot get you to your destination if it doesn’t know both your current location and your final destination.  The same is true with a budget.  A budget serves as your GPS or roadmap that tells you where you are today so you can plan for your future and reach your final destination.  

Goodbye “B” Word, Hello Ca$h Flow!

If you still can’t get your mind to think of empowerment and freedom when you hear the “B” word, then change the name.  Instead of calling it a Budget, call it your Ca$h Flow Plan or your Money Map!

Check out the One Year Financial Budgeting Template on my website and get started on your financial destination roadmap today!

About Carrie:

Family Money Mindset Coach with love and passion for family values and life-long learning.

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