Budget: It's Not a Four Letter Word


When people think of a budget they automatically feel like they're about to go on a financial diet. Images of what your financial advisor is going to make you do or how you're going to have to alter your lifestyle being to flash through your mind and make you cross eyed. It's easy to move forward in your quest to becoming the ultimate baller. It's not as easy to curb your appetites and restrict your habits and as soon as that word budget enters the conversation you have involuntary but observable reactions. Cringing, eye rolls, and heavy sighs have often been sighted in the presence of a budget discussion. 

"Don't tell me where your priorities are. Show me where you spend your money and I'll tell you what they are." - James W. Frick

Instead of feeling overwhelmed by fear, take this opportunity to empower yourself and start anew. Plan how you're going to spend your money. Not just the things you need, but include the things that you want. Make a category for disposable income. The money you plan to spend without regard to where it goes. Call it fun money, your throw away, or entertainment fund. Call it what you like, but make sure it's there. Then after you've paid your bills and saved at least 15% of your pay, allocate something to your new found fun fund. Stick to a number you can afford and have a blast with it. 

If you can get beyond feeling like you're somehow limiting yourself and instead get excited about taking control of your financial health, then you'll soon find the pride and value that come with being a master of your money.