FINANCIALS AND BUDGETS AND MONEY OH MY!
At work, we look at the companyβs financials and follow a budget consistently throughout the year, but what about your personal budget?Β 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 βBβ word and avoid it like the plague because they think itβs 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 canβt 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) |
| βΒ The budget is just a reminder of everything I donβt or canβt have βΒ I donβt have enough money βΒ I canβt afford to spend any money β Thereβs never enough moneyΒ β I have to cut expenses wherever possible β I have to settle for cheaper items I donβt even like β I donβt deserve to spend any money on myself for entertainment or enjoyment β I feel stressed out & overwhelmed β Iβm a failure; I give up!! | β The budget offers self-awareness & empowers me to know exactly where I am financially. β The budget helps me ensure my financial values & habits are aligned β New awareness and knowledge offer clarity on my financial goals and future vision β Allows me to look at my Opportunity Costs and make informed decisions with my money to be able to plan forΒ items I really want & willΒ 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. Itβs like the GPS in your vehicle. The GPS cannot get you to your destination if it doesnβt 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 βBβ Word, Hello Ca$h Flow!
If you still canβt get your mind to think of empowerment and freedom when you hear the βBβ word, then change the name.Β Instead of calling it a Budget, call it your Ca$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!
