I choose topics based on what I hear from all of you. Recently, I've noticed a common myth that keeps coming up:
MYTH: Budgets are only for people who are struggling, not for those who have extra money and can pay their bills.
TRUTH: A budget—or as I like to call it, a money map—is for everyone! 🚩
Why Everyone Needs a Money Map
A money map helps you:
Reach your goals 🏆
Achieve financial contentment 😊
Build a strong financial foundation 🏡
Whether you're struggling or have extra at the end of the month, a plan ensures no money is wasted. Without a plan, there's often leakage that can derail your goals. It's like trying to fill a bucket with holes—good luck with that! 🪣
Step One: Mindset Change
Many think a budget is restrictive. But think of it as a GPS for your money—a Money Map. You wouldn't start a trip without planning the route, right? Similarly, plan your money each month and follow that plan to reach your destination.
Think of your money map like Google Maps. You wouldn't just put in your destination and then ignore the directions, would you? Unless you like getting lost! 🗺️
Personal Story
My husband and I have been budgeting for our entire 30-year marriage. While we sometimes disagree on spending (hello, new golf clubs vs. a spa day!), we rarely fight because we're transparent, have long-term goals, and find compromises. Thanks to our budgeting which kept us on track with our retirement goals, I was able to leave my corporate job at 52 to become a money coach!
When I started working at 22, I made $21,000/year in Manhattan. Ouch! That's not a lot in 1989 Manhattan. Imagine trying to live off that—hello, ramen noodles! 🍜 Over the years, through budgeting and careful planning, my income increased. By the time I was 30, 3 job changes, I was earning $45,000. This is the job I stayed with for 22 yrs. When our second child was born and I was 36, I decided to go part-time, cutting my pay in half. This change required us to adjust our spending habits significantly. We made sacrifices, like plucking my own brows (ouch!), and choosing cost-effective vacations, but it was worth it to stay on track with our financial goals.
Testimonial Highlight
One of my clients, who had extra money each month but wasn't reaching their big goal (a vacation home), reached out for help with budgeting. They believed they needed budgeting accountability to stay on track. Through our coaching sessions, we realized that while a budget was essential, the real work was in addressing their beliefs, mindsets, fears, and communication.
By focusing on these deeper aspects, they gained clarity, empowerment, and confidence. Now, they're money mapping every month and setting up guardrails to stay on track. They're excited and confident that their vacation home is within reach next year, and they’ve achieved this while decreasing their stress levels. Who knew budgeting could be so zen? 🧘♂️🌟
Final Thoughts
Whether you're living paycheck to paycheck or have leftover money, a money map is essential for your journey.
Need help creating your plan? I'm here to guide you.
Let's have a money strategy session and get you on track to achieving your goals! 🚀
Comentários