What Does It Mean to Budget?

What Does It Mean to Budget?Thursday: Budgeting
What does it mean to “budget?”  Everyone has a different idea of what a budget is and how it should be used.  For some people, it’s allotting an arbitrary amount of money to be spent for a time period.  For others, it’s deciding what to spend money on and what not to spend money on.  Others use it as a way to plan ahead for spending.  It can even be a very elaborate plan or it can be very simple.

Budget shouldn’t be a bad word. A budget is merely a plan that you’ve chosen.  It’s what you’re going to spend or save based on what your income is, and incorporating what your goals are of how you want to live.  Call it what you’d like but a budget shouldn’t be a painful thing.  Whatever you decide, your budget should be how you choose to live.

A “budget” is really just a thoughtful, conscious spending plan that allows you to meet your financial goals by saving money and spending it on the things that you value.  It shouldn’t be forced on you by yourself or your partner.  It shouldn’t be dreaded.  It’s merely you choosing how you want to live.  So, regardless of how you go about your particular method of “budgeting” if you start with the understanding that it is really your plan for the life you want to live, it need not be something to dread.  No matter what you call it.

Want to know the problem with budgeting? Read about it here.
Need an on-line budgeting tool that’s free?  Check out Mint.com.

This post is a part of Women’s Money Week 2012. For more posts about “Budgeting” see Women’s Money Week 2012.

Sara

Sara, creator of Go Gingham, is passionate about cooking and feeding her family healthy, real food. She's a green enthusiast, too, who loves to grow food organically. Sara loves to travel - especially by trading houses. An avid runner, she can also be found chasing after her chickens in the backyard.

3 Comments


  1. I love how you think about things, Sara. You do make living frugally seem like a reasonable, do-able lifestyle – not a painful, deprived way of life. It is so encouraging to hear your words of wisdom.


    1. Thanks Annie. I think that’s the biggest mental hurdle in budgeting – realizing it can be a fun lifestyle. Yes, it may take a little getting used to but most new routines do!

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