Home » Budgeting’s Not What You Think
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Let’s face it: If you had more money, you’d be happier.
+ More money means less stress when the $1000 car insurance bill comes in the mail.
+ More money means having the ability to replace your phone with the broken screen.
+ More money means getting an oil change without worrying about the cost.
+ More money means getting through Christmas without going into debt.
+ More money means not having to think twice about taking your dog to the vet when he/she is obviously sick.
+ More money means paying off your debt and finally ditching those monthly payments.
+ More money means less money arguments within your marriage
+ More money means actually being able to enjoy your money.
But here’s the problem:Earningmore money, in most cases, isn’t worth it.
> You could pick up a side hustle, but then your 40-hour work week turns into a 50-60 hour work week (and you probably don’t spend enough time with your family as it is right now.)
> You can throw a garage sale to earn a couple hundred bucks, but that money is short-lived…
> And as for a pay raise, they’re usually too insignificant to make a difference for your finances.
For the most part, attempting to earn more money isn’t lucrative enough or worth the time.
But this means you’ve found yourself in a position you never thought you’d be in:
You have a fine career. You’re making decent money. And yet it’s barely enough to maintain your meager financial position:
The money in your savings account hasn’t grown in the past year (or let’s face it, the past 5 years), and at the rate at which you’ve been paying down your debt, you’re never getting out.
And as for retirement… well… Let’s just say you prefer not to think about it too often.
So as fun as this conversation has been so far, I have what sounds to be more bad news (but it’s actually good news, I promise):
EARNING more money isn’t going to help you.
What was your income 10 years ago? Or only 5 years ago? Are you making more money today, but still in the same (if not a deeper) financial hole?
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Let’s face it: If you had more money, you’d be happier.
+ More money means less stress when the $1000 car insurance bill comes in the mail.
+ More money means having the ability to replace your phone with the broken screen.
+ More money means getting an oil change without worrying about the cost.
+ More money means getting through Christmas without going into debt.
+ More money means not having to think twice about taking your dog to the vet when he/she is obviously sick.
+ More money means paying off your debt and finally ditching those monthly payments.
+ More money means less money arguments within your marriage
+ More money means actually being able to enjoy your money.
But here’s the problem:Earningmore money, in most cases, isn’t worth it.
> You could pick up a side hustle, but then your 40-hour work week turns into a 50-60 hour work week (and you probably don’t spend enough time with your family as it is right now.)
> You can throw a garage sale to earn a couple hundred bucks, but that money is short-lived…
> And as for a pay raise, they’re usually too insignificant to make a difference for your finances.
For the most part, attempting to earn more money isn’t lucrative enough or worth the time.
But this means you’ve found yourself in a position you never thought you’d be in:
You have a fine career. You’re making decent money. And yet it’s barely enough to maintain your meager financial position:
The money in your savings account hasn’t grown in the past year (or let’s face it, the past 5 years), and at the rate at which you’ve been paying down your debt, you’re never getting out.
And as for retirement… well… Let’s just say you prefer not to think about it too often.
So as fun as this conversation has been so far, I have what sounds to be more bad news (but it’s actually good news, I promise):
EARNING more money isn’t going to help you.
What was your income 10 years ago? Or only 5 years ago? Are you making more money today, but still in the same (if not a deeper) financial hole?
[/et_pb_text][et_pb_image src=”https://budgetingcouple.com/wp-content/uploads/2018/10/Landing-Page-Pics-2-min.jpg” align_tablet=”center” align_last_edited=”on|desktop” _builder_version=”3.23″ max_width=”72%” max_width_tablet=”88%” max_width_phone=”92%” max_width_last_edited=”on|phone” module_alignment=”center”][/et_pb_image][et_pb_text disabled_on=”off|off|off” _builder_version=”3.17.1″ text_font=”||||||||” text_text_color=”#000000″ text_font_size=”18px” ul_font=”||||||||” ol_font=”||||||||” header_font=”||||||||” header_2_font=”Arial|700|||||||” header_2_text_color=”#000000″ header_2_font_size=”33px” header_2_line_height=”1.3em” header_3_font=”||||||||” header_4_font=”||||||||” header_5_font=”||||||||” header_6_font=”||||||||” max_width=”95%” max_width_last_edited=”on|phone” text_font_size_phone=”16px” text_font_size_last_edited=”on|desktop” text_line_height_tablet=”1.2em” text_line_height_phone=”1.2em” text_line_height_last_edited=”on|desktop” header_2_font_size_phone=”31px” header_2_font_size_last_edited=”on|phone” header_2_line_height_phone=”1.1em” header_2_line_height_last_edited=”on|phone”]
The truth is, it’s terrifyingly simple for all of us to overspend.
When your career is causing you to feel overwhelmed and underappreciated on top of tensions running high at home (probably due to money being tight), it’s natural to want to go out and spend money.
You want to go out and buy yourself those new shoes you’ve been eyeing online. You want to go on vacation and step away from your pressing responsibilities.
Spending money is very enjoyable and an immediate way to de-stress. (It’s called retail therapy for a reason people!)
Therefore, it’s easy to find yourself in a vicious, self-perpetuating cycle of your financial struggles driving you to spend more money causing deeper financial struggles!
Earningmore money gives you the ability to spiral into financial ruin even faster.
Earningmore money is NOT the secret to Havingmore money.
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If you want to HAVE more money: if you want $20k in savings, $0.00 in debt, and finally have the ability to enjoy the money you work extremely hard to earn…
All it takes is learning how to spend your money correctly with a budget.
And finally for some good news: Learning to correctly spend your money is one of the easier things you will ever do.
[/et_pb_text][et_pb_blurb title=”What A Budget Is Not” use_icon=”on” font_icon=”%%219%%” icon_color=”#f9cf00″ use_icon_font_size=”on” icon_font_size=”53px” icon_font_size_phone=”39px” icon_font_size_last_edited=”on|phone” _builder_version=”3.17.2″ header_font=”|700|||||||” header_text_align=”center” header_text_color=”#000000″ header_font_size=”47px” background_color=”#ffffff” text_orientation=”center” custom_padding=”12px||” custom_padding_phone=”0px||” custom_padding_last_edited=”on|phone” animation=”off” header_font_size_phone=”34px” header_font_size_last_edited=”on|phone” header_line_height_phone=”1em” header_line_height_last_edited=”on|phone”][/et_pb_blurb][et_pb_text _builder_version=”3.17.1″ text_font=”||||||||” text_text_color=”#000000″ max_width=”95%” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone”]First things first: Budgeting does not (I repeat, DOES NOT) mean to live on the bare minimum.
You want to know the secret to living on the bare minimum? Don’t spend any money! Stop going out to eat, cancel your Netflix subscription, spend as little as you can at the grocery store, and cut every unnecessary expense.
Living on the bare minimum is not budgeting. Living on the bare minimum is living on the bare minimum—that’s it![/et_pb_text][et_pb_blurb title=”Spend Your Money Correctly With A Budget” use_icon=”on” font_icon=”%%281%%” icon_color=”#f9cf00″ use_icon_font_size=”on” icon_font_size=”53px” icon_font_size_phone=”39px” icon_font_size_last_edited=”on|phone” _builder_version=”3.17.2″ header_font=”|700|||||||” header_text_align=”center” header_text_color=”#000000″ header_font_size=”47px” header_line_height=”1.1em” background_color=”#ffffff” text_orientation=”center” custom_padding=”12px||” custom_padding_phone=”0px||” custom_padding_last_edited=”on|phone” animation=”off” header_font_size_phone=”34px” header_font_size_last_edited=”on|phone”][/et_pb_blurb][et_pb_text _builder_version=”3.23.3″ text_font=”||||||||” text_text_color=”#000000″ max_width=”95%” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone”]
The idea behind a budget is simple: Look at your monthly income, and create a plan to spend that money responsibly, efficiently, and to its fullest potential.
You’ll plan for the typical monthly expenses like your mortgage, utility bills, etc. You’ll plan to put money towards accomplishing your financial goals like building your savings or paying down your debt. Then whatever’s left, that money is for you to strategically spend in any way that brings you and your spouse maximum enjoyment.
A budget is your solution for living within your means while spending your money to its fullest potential (spending your money correctly).
[/et_pb_text][et_pb_blurb title=”Retirement Is No Joke” use_icon=”on” font_icon=”%%167%%” icon_color=”#f9cf00″ use_icon_font_size=”on” icon_font_size=”53px” icon_font_size_phone=”39px” icon_font_size_last_edited=”on|phone” _builder_version=”3.17.2″ header_font=”|700|||||||” header_text_align=”center” header_text_color=”#000000″ header_font_size=”47px” header_line_height=”1.1em” background_color=”#ffffff” text_orientation=”center” custom_padding=”12px||” custom_padding_phone=”0px||” custom_padding_last_edited=”on|phone” animation=”off” header_font_size_phone=”34px” header_font_size_last_edited=”on|phone”][/et_pb_blurb][et_pb_text _builder_version=”3.17.1″ text_font=”||||||||” text_text_color=”#000000″ max_width=”95%” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone”]You cannot work forever; you’re not always going to have your income to rely on. You must take steps today to build a large retirement fund capable of sustaining your life without an income. And as crazy as this monumental goal sounds, it doesn’t have to be difficult.
It’s just a matter of spending less than you earn every month (It truly doesn’t get more difficult than that!), and your wealth will begin growing every single month, without fail.
You’ll be making steady and consistent progress towards retirement, and finally have the ability to be excited about retiring instead of attempting to ignore the fact that you’re setting yourself up to have no money at the age of 65.[/et_pb_text][et_pb_blurb title=”Learn To Enjoy Your Money” use_icon=”on” font_icon=”%%280%%” icon_color=”#f9cf00″ use_icon_font_size=”on” icon_font_size=”53px” icon_font_size_phone=”39px” icon_font_size_last_edited=”on|phone” _builder_version=”3.17.2″ header_font=”|700|||||||” header_text_align=”center” header_text_color=”#000000″ header_font_size=”47px” header_line_height=”1.1em” background_color=”#ffffff” text_orientation=”center” custom_padding=”12px||” custom_padding_phone=”0px||” custom_padding_last_edited=”on|phone” animation=”off” header_font_size_phone=”34px” header_font_size_last_edited=”on|phone”][/et_pb_blurb][et_pb_text _builder_version=”3.17.1″ text_font=”||||||||” text_text_color=”#000000″ max_width=”95%” text_font_size_phone=”16px” text_font_size_last_edited=”on|phone”]Most important! You need to start enjoying your money… because you work extremely hard to earn it. You have to cope with the stresses of work, pressing deadlines, coworkers… in exchange for money.
Don’t let that money (literally, your reward for going to work), be another source of stress in your life. Especially (ESPECIALLY!) when it can just as easilybe a stress reliever.
Learn to spend your money correctly with a budget, and start experiencing what it means to spend your income to its fullest potential.[/et_pb_text][/et_pb_column][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”55px|||” custom_padding_tablet=”0px||” custom_padding_last_edited=”on|phone” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.16″ text_font=”||||||||” text_font_size=”24px” border_width_top=”1px” border_color_top=”rgba(51,51,51,0.42)” border_style_top=”dashed” border_width_bottom=”1px” border_color_bottom=”rgba(51,51,51,0.42)” border_style_bottom=”dashed” custom_padding=”7px||” custom_padding_last_edited=”on|phone” text_font_size_phone=”26px” text_font_size_last_edited=”on|phone” text_line_height_phone=”1.6em” text_line_height_last_edited=”on|desktop”]
Want more on budgeting?
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Couple Budgeting: A Practical Guide To A Drama-Free Budget
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How To Stop Living Paycheck To Paycheck Immediately
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The Ultimate Guide To Debt Payoff
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5 Budgeting Tips Beginners Need To Know
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