There is still this myth that living with an abundant mindset and budgeting don’t work together. But in fact, this is just another limiting belief you keep telling yourself.
The personal finance space is essentially divided in two camps: the hardcore budgeters and those who strive for an abundant mindset. The budgeters who only believe what they see and the ‘mindset maniacs’ who are in their lofty woo woo space and think budgeting is overrated and totally not in line with the abundance they strive for.
Budgets have a bad image of being restrictive, limiting, boring, cumbersome or… simply don’t work. Many believe they have to ‘go on a budget’. Being on a budget is doomed as a sort of lifestyle. But that is simply not true.
On the contrary, those two are not mutually exclusive. I believe that budgeting is mindset work in practice. When you learn to budget with an abundant mindset, you hit the goldmine of money mindset work.
Budgeting from abundance means managing your emotions around money.
Many budgeters are frugality freaks but I personally see myself on the line in between. Personally, I love to budget. My budgeting practice is not ruled by extreme scarcity thinking or squeezing every penny, though.
In fact, I firmly believe it is possible to budget with a mindset of abundance.
Curious how that works?
Stop Your Negative Beliefs around Budgeting
Budgeting is nothing else than a method of managing money and allocating resources. It is a tool. Budgeting is NOT just there for you to keep you from spending or spending as little as possible. THAT is scarcity thinking. When you believe your money is a scarce resource, and you have to keep as much and spend as little as humanly possible, you act from a place of fear and lack. And money doesn’t like that.
Many believe that budgeting is scarcity mentality in practice. Budgeting is just budgeting. It is not your calendars fault when you think you have no time for anything. It is just in your head. You can choose to believe that a budget is serving you and helping you manage your finances better or differently.
Whatever you believe about budgeting will be true for you.
Take Care of Your Money
To me, budgeting is a way of being a good steward of my money and taking care of it.
Budgeting, to me, means giving my money purpose and direction. Knowing where my money is and what I intend to spend it on is keeping me mindful with my money.
Money loves clarity. Budgeting means being crystal clear where your money goes and giving it purpose.
Allow Yourself to Spend
Many budgeters hate to spend money. Yet, spending is a way of keeping money in flow (and the economy alive).
To be a good steward of your money does also include spending. Do you know the story in the Bible about the talents (VERSE)? Well, while everyone who got the master’s money, went and did something useful with it, but one guy thought it would be a good idea to bury and hide it. He gave his master his money back, but the master was not very amused about him being a ‘hoarder’ and not using the money for good. He acted from fear of losing it, so he tucked it away.
The essence of the story is that money is a tool that is supposed to be used, not just hoarded.
So budget your money for spending, ideally something you actually enjoy.
Budgeting in fact, is a permission to spend.
Love Everything You Spend Money On
Whatever it is that you spend money on, love it!
People complain about their bills all the time, especially those unexpected ones. But in fact, your rent keeps a roof over your head, your electricity gives you light and hot water for a bubble bath and your phone keeps you in touch with your loved ones.
The things we spend money on are not just ‘things’. What some call ‘basics’, are actually luxuries. And without waving the ‘shame on you for complaining’ flag, you are probably one of the richer people on this planet for having access to all this, even the student loans you so hate. They gave you an education without having to pay cash upfront for it.
Think again about all your bills and appreciate everything they make possible for you. And if there is something you really don’t like spending money on, get rid of it and cut it from your budget.
If you approach it like this, you will also become a very mindful and aware spender, and only spend on what you truly LOVE.
There is No Such Thing As Wasting Money
People talk about ‘wasting’ money all the time. I don’t like to use that word. In fact, money is something humans invented to make trade and transactions easier, so we don’t have to calculate in 2,5 goats. There is inherent value in money because you can trade it for something that has (perceived) value to you.
I am not saying people don’t act from impulse and do retail therapy, but whenever you spend money, it always gives you something of value in return. People spend money on what they think is valuable.
It is your decision in that moment to spend money on something. You cannot ‘waste’ money, but be mindful about what you want to trade your money for.
Budget for Fun and Play
Because to me, all the things I spend money on are things I CHOOSE to spend money on.
I made a decision years ago that I would ditch my ‘poor girl’ mentality and stop being stingy with myself. After denying myself anything remotely enjoyable for years, for the sake of “not wasting money”, I didn’t realize the message I was sending out to the Universe was that I don’t consider myself worthy of these things.
You cannot be stingy about yourself and expect abundance in return.
Budgeting for fun and play for many is a rare treat that they allow themselves only occasionally. But is this really how you want to live your life?
Abundant budgeters see themselves as worthy of having fun and enjoying their life every day.
Living in deprivation is something we choose. We can also choose to live in a mindset that there is always enough, and that life is supposed to be fun. And that doesn’t even have to cost money. Being abundant with time, kindness, fun and energy is also a form of abundance.
Choose to live fully and abundantly, even on a budget. Treat yourself and be kind to yourself, every single day.
“I Can’t Afford That.”
Abundant budgeters don’t use this sentence.
Abundant budgeters say: “I choose to spend my money differently right now.”
Not just what you think and feel, but how you speak about money matters a lot. You might not realize that you speak your reality into existence. It might seem ‘real’ to you that you cannot afford something right now. We tend to only see abundance in the money we have in the bank. Saying things like “I don’t have money for…” is putting yourself into a victim mentality and telling your money that it is never enough.
Be mindful how you talk about money. You can choose different language that feels more aligned with the goals you want to achieve.
You can replace negative sentences by adding “… but soon I will.” That is much more powerful and puts you into a higher vibration instantly.
A budget is not a hard limit. It is a conscious decision to allocate money in a particular way.
I focus on value, not cost. This means that I love to spend money on personal development, education,, books, massages and high-end skin care.
When I budget for it, I plan for it. When I plan for it, I allow myself to spend on it. And I look forward to it so much more, when I give myself permission to spend.
“Show me where your money is, and I’ll tell you who your are.” This is so true. How we spend our money is a reflection of our values. Make sure your money always reflects your values. It is impossible to ‘waste money’ or have ‘buyer’s remorse’ when you make purchases based on your values.
Worry & Fear vs. Empowerment
Abundant budgeters don’t act from fear, scarcity and worry. Being on a budget and constantly worrying about money is not a package deal. True, many people who budget do that because they have to. But that does not have to be case.
Budget because you choose to. Budgeting is a choice. You don’t have to budget at all. But I believe knowledge is power, and knowing where your money is and what it does, does not have to be a controlling, fearful thing but true empowerment. When was the last time you have been empowered with your money? Think about that next time you sit for a budget meeting.
Budgeting is Mindset Work at Work
Changing your mindset around money is a process. But having the right mindset around budgeting is a great start to practice abundance in a very practical way. You are in charge of your money and your thoughts about it. Everything you think, feel and believe around budgeting and money is totally in your control. But many of our negative beliefs are so engrained in us, that we never question whether they are actually true.
You can choose to think different thoughts about money and budgeting. If you always think there is “never enough”, this is what you are going to create more of.
So next time you budget, think of yourself as someone who is empowered, mindful and abundant with money.
For example, you can choose to believe that every dollar you learn to manage well, is preparing you for managing more dollars that are coming your way in the future. You can create the belief that budgeting is a form of self-care. Practice gratitude for every dollar that is given to you by managing it well and thanking it for helping you enrich and enhance your life’s experience.
Those who are good stewards of money are rewarded and more is given to them. If you learn to manage the money you have, more will be given to you to manage.
I live by that and it has become 100% true for me.
How are you budgeting? Do you feel abundant when budgeting?
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