Whenever I hear the word budget, it feels like it screams that I can’t do anything fun. It just puts me in a negative mindset. How can I shift my thinking around budgeting to see it as something positive instead of restrictive?
Part of the budget is fun. My budget includes an allowance for me and my wife to spend on random wants each month. Budgeting should cover your needs and your future, but it should also include fun.
The word budget actually means you have money set aside specifically for fun. It’s all about how you look at it.
Why not replace the word budget with Spending Plan? Focus on how you’re going to spend your money to enable a richer life.
To me, the word budget means security. It gives you a plan to follow and helps you feel more stable.
But I also want to go out with friends and have fun.
Blaine said:
But I also want to go out with friends and have fun.
Then budget for that. In our budget, we have a category just called ‘booze’ for going to bars with friends. It gives us permission to enjoy time out.
Refocus on your goals. I’m not budgeting; I’m saving for a house, a ‘quit my job if I feel like it’ fund, and a trip to Spain. Make those goals concrete, and it feels more like an investment in your future.
So how does one save when you’re on a disability pension? I’m meeting with a neutral person to set up a budget.
Blaine said:
So how does one save when you’re on a disability pension? I’m meeting with a neutral person to set up a budget.
Here’s a link to my Google Sheet for budgeting. Feel free to use it for personal use: https://docs.google.com/spreadsheets/d/1lX9eJwNj7k8McluyGriXCfqtwK1QeK2RiHYSL4xzjBE/copy. I’m a mortgage broker and I help clients with their budgets.
For me, budgeting means moderation. It’s not extreme; it’s about managing and monitoring my spending. I actually enjoy budgeting because it reassures me about where my money is going.
Allocate some money for fun. I save up for a couple of months for upcoming fun events, and that helps me feel more secure in my budgeting.
The word budget means you get to have a planned amount of money for fun without feeling guilty about it. It’s about having fun within limits.
Some of my best times came after losing my full-time job. I went hiking and to the beach every day, and nature is totally free.
Valentine said:
Some of my best times came after losing my full-time job. I went hiking and to the beach every day, and nature is totally free.
But getting to the beach and trails often has costs, like transportation and gear. Very few things in life are actually free.