Create a Value-Based Budget so You Can Enjoy Spending More
Part of the reason so many people avoid creating a budget is that it can be a daunting task to list everything that requires your money. Rather than focusing solely on how much things are worth, also factor in what you value in your budget to help determine where your money should be spent.
As the personal finance blog Money Ning points out, we all value different things in our budget. Some things will make some of us happier than others. While we all value things like lodging and food enough to make up a significant portion of our budget, the foodie would be more willing to spend on this area because it is satisfying. Likewise, if you value outdoor activities, cutting your film and TV budget in favor of something more fun may be more beneficial for you. You can spend the same amount of money but get more value out of it.
When you spend money based on your values, you feel good about the purchase. When you spend on your valuables, money is used as a tool to achieve your goals, not as a means of thoughtless waste. Money is a means of improving and empowering your life, and it shouldn’t make you unhappy.
Ideally, budgets will help you limit your spending so that it never gets out of hand. But it’s also important to remember that getting the most out of life is also an important goal of your budget. If you’re not considering how much you personally value something in your budget, it might be time to give it a try.
How To Get Money To Buy What You Want By Creating A Value Based Budget | Ning’s money