Abundant budgeting is a relatively new idea to most people.
Traditional budgeting says that you have to cut out everything "extra" in your life, limit yourself, and stick to a rigid plan.
I don't buy into this idea, but I do love tracking my expenses and knowing where I stand financially. I tried standard budgeting, and would get frustrated and quit by the end of the month because I felt so limited and deprived.
Now that I understand a better way to budget, I am confident in all of my spending, and I know that money is just a tool that allows us to live the way we want to.
I haven't always been this way though. Back in 2013, I found myself in a situation where I needed to be able to support myself and my baby girl. I knew that I had to find a way to take control of my finances. I spent a few years struggling, working all kinds of part time jobs, with little free time, and somehow still had no extra money. I knew there had to be a better way - and that's where abundant budgeting came into play!
Abundant Budgeting is the idea that you can be aware of your financial situation at all times, and still have everything that you want.
The key to Abundant Budgeting is Prioritization.
Bills & debts have to come first, just like in traditional budgeting. Abundant Budgeting is different, because you learn how to be thankful - not only for income, but also for those bills and debts.
Think about it this way - if you didn't have an electric bill, you wouldn't have electricity. If you didn't have to pay rent, you would be homeless. These bills are gifts in disguise, and once you learn how to appreciate them, you uncover a whole new way of thinking.
Once your bills & debts are taken care of, then you move on to other necessities - groceries, gas, children's sports & activities. This would include things that we purchase infrequently and often forget to include while planning expenses for the month - car insurance & registration, a yearly subscription or auto-renewals.
Then we get to the fun part! The abundant part of Abundant Budgeting. Let your imagination run wild. If you could have anything, go anywhere, plan out your dream day, what would it be? How much would that cost? Could you actually do it?
The answer is Yes, and the way to get there is through Abundant Budgeting.
By combining proper planning on a personally curated spreadsheet with lessons on how to shift your mindset, you can learn how to make your dreams a reality.
Life is about balance and believing in yourself. Managing money isn't any different.
Try it out for yourself with this freebie!