A BUDGET GIVES YOU FREEDOM
Hey my loves! So, have you ever been told by your parents, your partner, or that super responsible friend that “you really need to get on a budget”? I sure have; pretty much every day while I was in college. My mom made sure to mention it regularly, especially when I got my first job and wanted to spend my entire paycheck on shoes. At the time, I wanted no part in it, but I quickly learned the error of my ways.
Now, when people hear the word “BUDGET” they automatically think restraints or limitations. And unfortunately, that leads to people just not having an interest in it. But what if I told you that, in fact, a budget doesn’t limit you, but instead, gives you freedom? Would you be more open to it then? I sure would. So, I’m going to do just that. Let’s dig in!
Now I know that talks about budgeting is not always the most exciting topic, but it doesn’t have to be a total snooze fest either. I’m going to try my hardest to make this as relatable as possible so that you will see the value in budgeting and who knows, maybe even enjoy doing it! (Hey, I can be hopeful!)
Now, I don’t know about you, but I don’t have a money tree growing in my back yard. And we work entirely too hard to feel like we can’t spend our money the way we want. So, before budgeting can even start, there needs to be a mindset shift on what exactly a budget is.
Let’s look at this in a more tangible way. If you have ever built a house, you know that you have a certain amount of land to build on and in order to do it properly, you need to have blueprints drawn up. The blueprints give your contractor directions on how to build the house so that it will be sturdy and safe.
You make the decisions on all of the specifics like where you want the bathrooms and how big the closets should be, but you are limited by the amount of land you have to build on. And once you have made your choices, that blueprint is what is followed to ultimately give you the home of your dreams.
Now, look at a budget in the same way. Your budget gives you direction on how to spend your money. You make the decisions on how much to spend and on what. If you enjoy eating out, then put that in your budget. If you want a specific photographer for your wedding, then by all means, put it in the budget. You have total control over what goes and doesn’t go into your budget.
But just like you can’t build your home on land you don’t have, you can’t budget to spend money you don’t have. So, in reality, your budget is not the limiting factor, the amount of money that’s available to spend is.
If you have a set amount of money for anything, whether it’s for a vacation, your wedding, or just day to day expenses, then you have to work with what you have. So, take that amount and spend it on whatever you want; the point is to have a plan for it.
Let’s face it, pretty much every decision we make involves money in some capacity, and a budget gives those decisions a foundation. No matter how little or how much you have, it’s what all of your purchases are built on.
Going back to the house analogy, if the foundation is not well made, the house will not last. If your budget is not well thought out, then anything you attempt to do with your money will be unstable.
Like with any foundation, just to have it is not good enough. It needs to be of quality. So, when building your budget, and making the decisions of what to spend your money on, it’s important to budget for necessities before luxuries. In the case of your household, your food and housing should be covered before shopping sprees and sports packages. And for your wedding, what’s most important to you and your partner should be at the top of your list.
Now, once you have accepted that the limiting factor is the amount of money you actually have, and have decided where you want those dollars to go, you have your BUDGET. And now your budget is your permission slip.
It gives you permission to spend as much or as little as you decided to spend. It keeps you on track to follow the plan that you set and keeps you from “building your house on your neighbor’s land.”
So, I’ve talked about how your budget is like a blueprint, and is the foundation of your money decisions, and that it gives you permission to spend. But what is the benefit of all of that? There are several, but a big one is:
You will have the freedom to spend your money GUILT FREE.
Because you made an intentional choice to spend your money on that thing, or give to that cause, or help that friend, it will be a more pleasurable experience for you. You won’t be ridden with guilt or have buyer’s remorse because you followed your plan.
Now, are you wondering why I haven’t really broken down this whole budgeting thing as it relates specifically to your wedding? Uhhhh, it’s because it applies in the same manner. The only difference may be that you have a choice in what’s considered a necessity for your wedding. I mean, food and housing are pretty much non-negotiable, but for a wedding, necessities can vary.
The main point I want you to take away is that what limits your spending is the amount of money you have, not the budget. Your budget allows you to be intentional and gives you freedom to spend your money on exactly what you want.
As a bonus, I have created a free guide for planning your wedding expenses. Use it as a roadmap to set up your wedding budget.
USE THIS GUIDE FOR PLANNING YOUR WEDDING EXPENSES
IT IS AN ESSENTIAL PART TO SUCCESSFUL WEDDING PLANNING