The problem with Budgets is that people associate them with deprivation. They hear the word budget and immediately jump to, “I can’t have my morning latte.” Or, “I’ll have to sell my Miata.”
Budgets are only deprivation if that is your mindset. A budget is a map that shows the money you plan to receive and how you will use it. It is a tool that needs to be monitored and adjusted as your situation changes. Developing your budget requires making choices. True you can’t have everything. But do you really need everything?
Making spending decisions helps you define what is important to you. People are most happy when their spending reflects what they value in life. Why spend money entertaining to impress people, for example, when you would rather be kayaking on a peaceful lake?
There are many books and on-line resources to help you with budgeting and life fulfillment. My favorite is, Your Money or Your Life, by Vicki Robin, Joe Dominguez and Monique Tilford, and their website, http://www.ymoyl.wordpress.com/
If you have a budgeting resource that was helpful to you, I hope you will share!
