I’m a lover of shoes and I love to have them in their gorgeous types (and definitely they come in their prices). Recently, I looked at my stack of shoes and did a rough calculation of how much I’ve spent on shoes and not a tinge of guilt stirred in me. Why? As much as I have good eyes for shoes, a budget helps me ensure that every other spending class gets appropriate monetary allocation. I can cater for my expenses, I can save and invest, I can give to God and support kingdom work, I can give generously to people, I can express my love to my family and friends through monetary actions, I can also pamper myself and buy the things I love.

That’s what a budget helps you do. In this way, you spend without feeling any sense of guilt or regrets because each part has been covered and nothing is neglected. A budget doesn’t stop you from spending; it directs what you should spend on and the limits.

Another benefit of a budget is that it helps you maintain a money balance. When you set percentage allocations to your income, you can easily identify the expense class that is taking up more of your income and do a restructuring if need be. You can also prioritize your expense class and allocate your money in that order. Furthermore, this helps you maintain discipline in the way you allocate your income. For example, you can discipline yourself that the percentage of income allocated to shopping should not be more than the allocation for wealth building (Investment).

Are there any other personal benefits a budget has been to you? Feel free to use the comment section.
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To your financial independence and freedom

Spending Without Regrets

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