Episode Transcript
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Speaker 1 (00:00):
Hey everyone, Asher Blake here and welcome back to Abundant's mind. Today,
we're diving into something super crucial, crafting a budget that
doesn't feel like a prison sentence, but more like a
roadmap to financial freedom. Ever felt like you're drowning in bills,
constantly chasing your tail, wondering where all your money goes? Yeah,
me too, But trust me, it doesn't have to be
(00:22):
this way. Creating a budget that works for you, one
that feels sustainable and empowering, is absolutely achievable. Now. I
know what some of you are thinking. Budgeting sounds boring, restrictive,
and frankly a total buzzkill. But hold on. This isn't
about deprivation or saying no to everything you love. It's
about taking control, understanding where your money goes, and making
(00:45):
conscious choices that align with your goals. Think of it
as a financial superpower, the ability to design your own destiny. Okay,
let's dive into five key takeaways that will help you
build a budget you can actually stick to, one which
the perfectionist mindset. First things first, release any pressure to
make it perfect right away. Life throws curveballs, Unexpected expenses happen.
(01:10):
That's normal, Start simple, track your spending for a month
or two, and then tweak your budget based on what
you learn. Remember, progress over perfection is the name of
the game here. Two make it visual. Numbers can be daunting,
but visuals are your friends. Use budgeting apps, spreadsheets, or
even good old fashioned, colorful sticky notes to track your
(01:31):
income and expenses. Seeing your financial picture laid out clearly
can make a world of difference. You know that feeling
when you finally organize your messy closet, Pure satisfaction. That's
what a well structured budget does for your finances. Three.
Prioritize your needs versus wants. This is a game changer.
Differentiate between your essential needs rent, food, utilities, and your
(01:55):
wants that new gadget, that fancy coffee every day. It's
not about denying yourself treats, but about being mindful of
where your money goes. You can still enjoy those wants,
but maybe schedule them in or find more affordable alternatives.
Think about it. Could you swap that daily latte for
brewing your own at home? Those savings add up For
(02:18):
the fifty thirty twentieth rule. This is a super handy guideline.
Allocate fifty percent of your income to needs, thirty percent
to wants, and twenty percent to savings in debt repayment.
It's a flexible framework that you can adjust based on
your individual circumstances. Remember the key is consistency. Five. Reward
(02:38):
yourself you deserve it. Celebrate your budgeting wins, big or small.
Treat yourself to something you enjoy within reason of course,
Acknowledge your progress, and keep the momentum going. It's all
about creating a positive association with budgeting, making it less
of a chore and more of a journey towards financial
well being. Speaking of journeys, think about that time you've
(03:00):
finally got organized after months of chaos. What a relief.
Budgeting can be like that too. You know that feeling
when everything is in its place, your finances are clear
and you have a plan. That's the power of budgeting.
It brings clarity, control, and peace of mind. So let's
say you're craving that new pair of shoes you've been eyeing.
(03:21):
Instead of impulsively buying them, take a moment to think
about your budget. Can you afford them without sacrificing other
important things. Maybe you can save up for them over
a few weeks, or find a similar pair at a
more affordable price. That's the beauty of budgeting. It empowers
you to make informed decisions that align with your goals.
Remember this isn't about deprivation. It's about making conscious choices
(03:44):
that lead to financial freedom and happiness. Take these key
takeaways and apply them to your own life. Start tracking
your spending, prioritize your needs over wants, and celebrate those
budgeting wins. And remember, you got this. Share your thoughts,
you experiences, your triumphs. Let's build a community of abundance
together until next time. Keep striving for that financial freedom.
(04:08):
It's well within your reach. This podcast is created with
the help of Advanced AI to deliver thoughtful affirmations and
positive messages just for you.