Kelly Blodgett launched Money Gal Coaching with a goal of serving people who, like her, were burdened by debt. You can get her tips for paying down debt on a regular basis at Bring Me The News, in addition to the Money Gal Coaching website and Facebook page. Here is her latest story: 

Something that I often hear from people is how limiting a budget can feel. Setting spending limits on specific items can cause a feeling of being limited, but, remember, you are the one setting those limits and we all have to have limits. Money is not unlimited so unless going into debt is a goal of yours, you have to know when to say no.

I am here to shout from the rooftop that I don’t see my budget as restricting. I see it as something that gives me permission to spend, and here’s why.

Your budget is like that best friend when you are at the mall who says, "you need that shirt, get it!" Your budget is saying, "hey, set money aside for this specific thing, what are you waiting for?"

When I help clients create their first budget, we start the process by creating a list of everything that brings them joy. Do you value spending time with family and friends? Do you like traveling? Do you always need the latest gadget? Is it your personal mission to try every brewery in Minnesota?

Whatever you find value in, you want to make sure you are incorporating spending for those areas. My budget always includes a category to save for the Twins home opener, the Minnesota State Fair and Black Friday. Non-negotiable. These are experiences that are affordable and have become a tradition with close friends.

Maybe in your previous life (pre-COVID) friends were known to invite you to a last-minute pricey brunch and you feel guilty when you go, and when you don’t. Start setting aside a small amount of money each week, or with each paycheck, so these events don’t break the bank.

We still have to say no to some things since our money isn’t infinite. But saying no to something you don’t value is a lot easier than saying no to something you do value.

Start today by writing down the things that truly bring you joy, a little soul searching one might say. Figure out how much you can afford to spend on those items and make sure they are in the plan. And remember, no item is too small to start saving for. My car tabs are way less annoying when I save $5 a month versus $60 at the DMV, that’s a happy hour!

Not sure where to start? Overwhelmed? Let’s chat. It’s free and I can help you get started mastering this thing known as personal finance.

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