One reason that many people hate budgets is because it makes them feel poor. It can be difficult to stop spending money any way that you want to. It takes time to become used to spending within the limits of your budget. You may feel that you are cutting back on things (like eating out, toys, and leisure items) and not seeing an immediate benefit. If you feel poor then your attitude about your money and life will change negatively. Here are four ways to stick to a budget without feeling poor.
1) Make sure that you and your husband each have some mad money. This can also be referred to as an allowance or blow money. It is money that you can spend on whatever you want for the month. This gives you a little bit more freedom, and it can allow you to still do the things that are most important to you, but that you may feel are too frivolous to budget for specifically.
2) It is important to realize that the amount of money you actually spend really has nothing to do with how rich or poor you are. When you are looking at the Joneses you only see all the stuff that they have. You do not know how much they have put away for retirement or how much debt they have accumulated. Would you trade a new boat for your peace of mind? I wouldn’t.
3) Set attainable goals and celebrate the milestones along the way. Once you have planned the future that you want and have marked out the path that will get you there, it is time to enjoy the journey. If you pay off your student loans go out to dinner and celebrate. If you pay off a credit card, do something fun. When you pay off your mortgage throw a huge party. You can celebrate savings milestones as well.
4) One thing that can help you feel as though you aren’t as poor is to give to others. If you do not have the cash to donate to your favorite charity, you can still make time to volunteer in some way. Reaching out and helping others is a great way to realize all that we do have. This will help you to stay focused on the positive.
Related Articles:
Pamper Yourself Without Breaking the Bank
Scaling Back Your Spending
Setting Up a Realistic Budget