10 Principles of Intuitive Budgeting
I recently wrote one of those "this one mindset hack can change your life" kind of articles about making better spending choices for the newsletter. I promise you that the advice has been effective for me (and from what I can tell, it works for others, too).
But I also need to be real with you. I totally didn't follow my own advice that day. I was having one of those days: I woke up exhausted from a nightmare with three zits erupting on my face, and that was just the beginning. So after work, I logged onto the net and bought myself some lipstick and a dress without thinking twice about the consequences.
So I was all, "Why am I writing this advice when I can't even be perfect with money myself?" (Yeah, I know how that sounds). BUT THEN I remembered that over a year ago, I had written a money version of the 10 Principles of Intuitive Eating. It was right before the pandemic, so in the flurry of writing things about Covid-19's financial impact, I didn't get around to publishing it.
Check it out:
Reject the Budget Mentality. Throw out any books and magazine articles extolling the virtues of restrictive budgeting. Unsubscribe from newsletters and blogs that chide you for not saving enough. Rip up those old spreadsheets that were never going to work!
Honor Your Money. To survive, you need to make money, pay your bills and save. So set up a system (preferably automated) in which you know you can make that happen.
Make Peace With Money. Give yourself unconditional permission to spend money on necessities. Understand that sometimes, emotional spending can happen. It’s okay! But, just like overeating, overspending may not feel so hot. The same goes for underspending.
Challenge the Money Police. Push back on thoughts that you’re not good enough if you don’t have a certain amount of money in your bank account or if you made a spending “mistake.”
Discover the Satisfaction Factor. What do you feel good about spending money on? What does it make you feel upset to spend on?
Feel What’s “Enough.” What amount of savings is comfortable for you? Trust that money comes and goes.
Cope With Your Emotions With Kindness. No more beating yourself up for getting emotional with money. It’s an emotional topic, and we all tell ourselves stories about how our net worth affects our self-worth. It’s okay! You’re not a bad person for feeling things. But interrogate those thoughts: what can I change to help myself feel differently?
Respect Your Bank Account. Do what you can to accept where you’re at now. Wealth (or lack thereof) is passed down from generation to generation. In other words, nobody will have a similar money picture, and that’s okay.
Give Back — Feel the Difference. Even a couple of bucks a month can feel really good to give to someone else. And if you can’t offer money, donate your time!
Honor Yourself — Make Gentle Changes. It’s okay to want to change. We are always evolving. But when you do, be sure that those changes are small, doable, and exciting.
Okay so... taking my own advice. Sometimes emotional spending happens, and it doesn't mean you're a bad person. I'm choosing to cope with kindness. And hey, next time I can use the mindset trick that I want to.
