Budgeting 101

How to move from fear to total control over your money

“Needless commitments are more wasteful than needless possessions. Possessions can be ignored, but commitments are a recurring debt that must be paid for with your time and attention.” — James Clear

Lessons from my budgeting journey so far

1. When you succeed in one process, you get the psyche to succeed in another.

You communicate to your subconscious mind that you can win.

2. If you succeed with your money, you can win at anything!

This is because most of us start from a point of fear, with the wrong money lessons passed down from childhood, scarcity mentality and almost zero knowledge.

3. You can control your money.

Give yourself the gift of reduced financial anxiety.

“One of the greatest forms of freedom comes from knowing what is important to you. It grants you the freedom to ignore everything else.” — James Clear

4. The fear reduces with time.

With time, your face will brighten when big figures are mentioned, your brain will generate ideas instead of the default ‘I cannot afford that.’

5. Be honest with yourself

“Hiding from your money problems exacerbates them, but it’s impossible to stop hiding without first overcoming shame. When you start talking about money, whether that’s your bad spending decisions or growing up in poverty, only then can you get rid of the shame surrounding it.” — Ashley C.Ford

6. Learn to say No.

It will hurt especially if you’re saying it to family or people you love. But in the hierarchy of responsibilities, you come first.

7. Don’t rely on your memory

Record and track your expenses often!

8. Work towards a lifestyle where good financial habits is normal behaviour.

Your finances are not something you only think of once in a while when it’s convenient. Or when you’re deep in debt. It’s an everyday thing. Having the right friends plays a huge role in this one.

9. One size fits all budget doesn’t exist.

But learning the fundamentals is key to improving.

10. What you feed grows.

Learn, relearn, unlearn. Let’s secure this bag, ahbeg!

11. Once you realize the amount of work and time it takes to come up with a budget and stick to it, then you won’t let other people’s lack of planning disrupt yours.

No matter how much you love them. Unless it’s an emergency.

12. The lessons roll over to other aspects of your life.

For example, if your health figure takes up too much of your money, then you’ll want to scout for a job that provides health insurance…but you wouldn’t know this if you don’t have a budget, would you?



Your voice of reason before you blow all your money this weekend! www.thewealthtribe.com

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