Many hesitate to go through the process of creating a budget, simply because it makes them feel as if they are contemplating about money more than they should. Some would say that only a greedy person would sit and make a plan for their money. Others would consider it a waste of time, concluding that there are better things to do…
We are driven by the culture of our whereabouts, the lessons of the people who raised us, the teaching of our teachers, the observation on our peers. They all shape, or have shaped their own identities, personalities, and lifestyles, based on similar experiences as ours. But none of them were educated about personal finances, which means that we’ll also never get to hear about budgeting unless we act on it.
It seems only a handful of people attempt to understand money while everybody else is changing the subject due to discomfort, triggered by insecurities. That’s certainly not what budgeting should make us feel.
To have a budget is to have a sober and adequate intelligence of what’s happening with one’s time since time is ultimately what most of us trade for money. It provides a realistic overview of how one can live, without harming their future. Better yet, it allows us to set goals and move towards them as it reveals the time needed to reach these goals. It also motivates us to think bigger and shorten the time required to get to where we are heading.
Having a budget makes us feel relaxed about money. Once set up, it removes the anxiety surrounding each purchase as money for an item, lunch or vacation are specifically set aside for it. On the contrary, if there’s not enough money set aside, our budget helps us understand why we should not make a purchase. If we are to ignore that, we can easily see how much extra time this decision will cost us before we make up for it. In turn, this will make us rethink the situation and question the desire towards a questionable purchase.
It takes some time to adjust to a budget as well as a few tweaks to make it just right for your circumstances. Once it feels comfortable, it can be put on autopilot, or with other words – you no longer have to think about it as much. Perhaps, only when you have an idea of optimising it further. This systematisation will surely prevent you from impulsive, and later on regrettable decisions.
Do you need help setting up your budget?
You may have never created a budget before, you may want to optimise your purchasing decisions, or you may want to make sure you’re prepared for the future. In any case, you are always welcome to reach out or read more on the Money topic.