Most people, when they realize (or are told) that they need to create a budget, groan and say something like, \u201cMan, I\u2019m going to miss out on so much stuff. I\u2019m not going to have a life or any fun with all this restricted spending.\u201d While this is an understandable reaction, it can be counter-productive. Such a negative response means that every decision and every purchase comes from a place of suffering and resentment rather than joy or contentment. That\u2019s no way to live life.<\/p>\n
A negative outlook also means you probably won\u2019t stick with your budget over the long term. If you\u2019re constantly focusing on the deprivation aspect, eventually you\u2019re going to give up. That negative feeling is difficult to live with for a long time, so to protect yourself you\u2019ll go back to the things that make you feel good. And while those meals out and new clothes might make you feel better, they won\u2019t do anything to help you achieve financial success.\u00a0<\/p>\n
There is another path. Instead of dwelling on all that you\u2019re \u201cmissing,\u201d and blowing up your efforts before they even get going, focus on the good things that budgeting will do for you. A good budget isn\u2019t about depriving you of things. It\u2019s about enabling you to afford the things that really matter, both now and in the future. \u00a0<\/p>\n
So how do you do this? First, you have to figure out what you value most and what you want a budget to do for you. Where are you trying to go financially? Do you need to get out of massive debt? Would a budget help you make ends meet every month? Do you need to save for retirement? Are you planning to leave a legacy to your kids or charity? Do you want to reduce your consumption to help the environment? Or maybe you just want to have a ton of fun and travel all over the place while eating in every restaurant you can find.<\/p>\n
Sit down with your thoughts and really wrestle with your needs, goals and dreams. And be honest with yourself. If travel is something you really want, for example, don\u2019t discount it because you think you\u2019ll never be able to afford it. With a functioning budget, you might get there. Maybe not today, but in the future.\u00a0<\/p>\n
Knowing what you need and want from your money is how you make the positive shift in your brain. If you don\u2019t have a clue what you want out of life, then, sure, the thought of giving up on today\u2019s pleasures is painful. That\u2019s all you know, so giving up your current \u201cfun\u201d seems to be too much. But when you know there are other things you want\/need more, it\u2019s easier to turn resentment into determination to succeed.\u00a0<\/p>\n
So, for example, let\u2019s say you identify a comfortable retirement and saving for your kid\u2019s education as two big things you want in this life. Great! Your budget mindset changes from, \u201cI can\u2019t go out to dinner tonight because of the dang budget,\u201d to, \u201cI\u2019m not going out to dinner tonight because that isn\u2019t as important to me as knowing I\u2019m okay in my old age and my kids are taken care of,\u201d<\/p>\n
The first mindset often leads to failure. It feels like you\u2019ve given up all control and the budget is running the show. You get frustrated at what you can\u2019t have and give up or rebel. The second mindset leads to success because it returns the agency to you. You<\/em> are making the choice to pursue what is important to you with the resources you have. You stop focusing on what you can\u2019t have<\/em> and focus more on what you will have<\/em>.\u00a0<\/p>\n Granted, this isn\u2019t easy. Most of us are not wired to handle delayed gratification well. We want stuff now, dangit! What if we don\u2019t live that long! Think of all we missed out on! And so on. But whether we have sixty years left or ten, that\u2019s still a future that needs planning for. Sure, you could die tomorrow, but the odds aren\u2019t good on that. You will likely have bills to pay next month, food to buy, and things to plan for. That\u2019s why it\u2019s important to shift your mindset from one that only looks at now to one that looks ahead to where you want and need to be.\u00a0<\/p>\n When you can do that, you stop looking at a budget as something designed to punish you and instead view it for what it is: A tool to help you make the most out of your money and your life.\u00a0<\/p>\n (Incidentally, most people have the same reaction to the word, \u201cdiet.\u201d The first thought is of all the good stuff that will be missed, not the long term view of better health or longevity. In both cases, reframing the thought process can help achieve success, or at least minimize the misery. So when New Year\u2019s rolls around and thoughts turn to weight loss, give this a try there, too.)<\/p>\n Read More:<\/strong><\/p>\n