The first and most important step to get intentional with and master your money is to create a Spending Plan. This step creates the foundation for the motivation and discipline to follow through all the other steps.
Spending Plan vs Budget?
What is the difference between a Spending Plan and a budget? Actually, there is no difference between what is known as a budget or what we like to call a Spending Plan, or at least not practically.
There is however, a psychological (or mental and emotional) difference to thinking about creating and implementing a Spending Plan- what we call a plan for how you want to spend your money – compared to thinking about creating a budget.
In our experience, most people feel like a budget or budgeting is about :
Limitation and restricting what you spend.
Spending only on the bare minimum of what you need.
Deprivation and not being allowed to have things you want.
Fear and being afraid to spend money.
Guilt that comes when you spend money on things you didn’t budget for.
Draining Energy as it feels heavy and doesn’t feel motivating.
Introducing the Spending Plan
A Spending Plan is simply a plan for how you want to spend your money. A plan that is not about deprivation and limitation and fear and guilt and a drain on your energy. A Spending Plan is an intentional, considered choice about what you decide is important to spend money on so that you can tell your money what to do!
We believe that when people shift from using a budget to using a Spending Plan they feel :
Empowered, as they choose what they want to spend their money on and track how they spend towards these goals.
Confident that they are taking control of their money mindset and creating healthy money habits that support the Life they want to live.
Excited, as they get to see and experience the benefits of planning their money.
Connected to themselves and what they value as they focus on ensuring alignment between what is important to them and how they earn and spend their money.
Energized, as they live each day and step towards creating intentional financial freedom.
My Current Income & Expenses
Before you can create a plan for your spending, you first need to know what is going on in your financial world right now. Therefore, it’s time to take stock of your Income & Expenses. Click on “My Income & Expenses” to get started.
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The first and most important step to get intentional with and master your money is to create a Spending Plan. This step creates the foundation for the motivation and discipline to follow through all the other steps.