The Freedom of a Budget
A life without debt. I can only imagine what that will be like. I’ve never had a positive net worth, but I am getting close! My wife and I have worked hard to increase income and cut spending to pay off over $72,000 in 23 months. People often ask me how. The answer is the least popular word in America: Budget.
Creating and following a financial budget is the ultimate example of Intentionality: you’re saying what you’re willing to do according to your values and then acting it out.
Ever feel guilty for spending money?
When I was single, I used to feel guilty every time I spent money. I’d go out with friends and scan the menu trying to balance what I wanted with thriftiness. I’d feel a twinge of regret at having spent the money, and I’d wonder if what I had done was going to be OK. How would I pay for it?
When I’m around most couples, I see the same discussion play out that my wife and I have had a thousand times. One of them wants to buy something and asks the other’s permission.
Both situations make for stress and unhealthy relationships. What’s the point in going out with friends if all you’re thinking is that you shouldn’t have spent the money? Do you think my wife wants to parent me?
Making a budget frees you from this.
It’s you sitting down, facing the facts, and then giving yourself permission to spend a certain amount on each category. No questions asked. I can take my spending money and light it on fire in the living room each month if it makes me happy (It doesn’t, so I don’t). But I’m not wondering if I can afford to meet my friends, and I’m certainly not asking my wife to act like my mother and let me have some cash.
When we make our budget we are giving ourselves permission to spend.
That lets us to enjoy spending without any feelings of guilt in the back of our minds or the pits of our stomachs.
If you’d like to learn more about making a budget that works, a budget that feels like freedom instead of restriction, you should sign up for my upcoming class. It’s free. We’re going to spend 6 weeks looking at how you spend your time and money to achieve the life of your dreams. Visit www.tonyferrar.com/question for more information!

