There’s No Finish Line In Personal Finance – And That’s A Good Thing

By Diana Brown

February 13, 2022

Personal expenses concept. Financial analysis background.
Photo: Getty Images

There’s no denying that the pandemic has changed a lot about the world in the past couple of years, and many of those changes have impacted our finances a great deal. School shutdowns, work quarantines, inflation: It’s no wonder so many people feel like they’ve lost a lot of control over what happens with their money. So on this episode of How To Money, Matt and Joel sit down with Kumiko Love, otherwise known as “the Budget Mom” and author of My Money My Way to hear about how everyone, everywhere, can get control over their finances no matter what’s going on in the background.

Kumiko’s philosophy is that personal finance truly is incredibly personal; everyone’s goals, priorities, and circumstances in life are different, which means we all need our money to do different things for us. If you tried to follow someone else’s ideal budget without taking into consideration your own goals and real-life priorities, it could never be effective. But most people hate budgeting because they have shame or guilt around how they handle their money or how much they make. Kumiko urges us to think of a budget “as a tool, not a burden….your budget has your back and it works for you. Once we get into that mindset, we get excited because it allows us to live the life and reach the goals we’ve been wanting.” 

And it’s important to get excited about our budgets, goals, and priorities, because “there’s no finish line” in personal finance. “Money will always be a part of our lives,” Kumiko says. She always thought once she paid off her debt, she’d be done tracking her budget so closely – but instead, it opened her up to new financial goals like home ownership and saving for retirement. “We’re always going to be growing within ourselves, and with our money, for the rest of our lives.” So why wait? Get started making your budget work for you with more great budgeting tips from Kumiko Love on this episode of How To Money.

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