I love reading these kinds of articles. They always start off so bold and in-your-face. The headline of this one is:
I Don’t Budget Because It’s Not Sexy
But by 1/3 of the way through, you’re reading this paragraph:
You see we have a name problem! So from now at YFS we no longer say the dreaded B word, we will refer to it as a Spending Plan. But you can call it what ever you want.
So before you know it, they go on to list the steps in creating a – you guessed it – a budget. (Call it what you want, but if you’re writing down all of your income, then listing all of your expenses, that’s a budget.)
Still, the author makes a valid case for calling it something different when he points out that “budget” has a negative connotation whereas “spending plan” (or something similar) sounds more positive and fun. There’s a whole movement right now that’s focusing less on changing willpower and more on changing the associations we have with things so that we want to do them. I applaud the effort, but it makes me somewhat sad. After all, we are supposed to be higher-level beings that can reason and choose above what our primal instincts tell us. Shouldn’t we be working towards making ourselves better people instead of merely manipulating the external forces in a way that will better our circumstances?
That’s enough heavy talk for today. The main point that I came away with from this article was that your budget should be something that lets you spend money - not something that tells you you can’t spend money. A simple shift in mindset might make all the difference in your budgeting.