Budgeting is Not a Money Diet
Budgeting, Debt Reduction, Spending Tracking, Saving, or Income Protection. Where do I begin my Money Management journey? All of these areas are very important steps in the process. In fact, they are all topics that I teach and review during workshops, seminars, and one on one coaching. However, I would argue that none of these is the first step as you begin your journey to get your finances in order.
Change is the first step. Of course it is, you may say. Change the way I spend. Change the way I save. Change the way I manage my money. Change the way I handle debt. Again, those are very important steps and things to change but that is not the change I am talking about. What else is there to change? Change the way you think!
I would like to suggest that if you do not change the way you think, then learning how to decrease your debts, save your money, track your spending, invest in the stock market, etc. will not mean anything. If you do not change the way you think, then you will not change the way you spend, etc. You can get enough information to fill every bookshelf in your house or the memory in your computer, but if you do not change the way you think about the subject and act on the information no change will happen. It is kind of like dieting. You can start the diet but if you do not change the way you think about eating, then you are going to go back to eating the way you always have been eating.
Budgeting is not a money diet. It is a tool to help you to reach your financial goals. If you use money to pamper yourself, then you might hate the thought of a budget. If you do not worry about money and spend money for the fun of it, then you might think of a budget as a way to cramp your style. If you use money for status, then you might think of a budget as a way to restrict you from getting what you want – what you deserve. You have to change the way you think in order for a budget to work for you. Simply put, if nothing changes, then nothing changes.
I challenge you to look at your financial situation. Consider thinking about how you value money. Take the Money Color Survey if you need some help. If you see some areas of improvement, then consider changing the way you think to make those improvements. Perhaps you do not shop for sales, but you need to start doing so to save money. Or you shop for sales but do a lot more shopping than you actually need to do. When you change your thinking, then you’re ready to take the next step on your Money Management journey and positive, sustainable change is more likely to happen for you. Remember, “If you keep doing what you’re doing, then you will keep getting what you’re getting.” All the best!
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