If Following a Budget is Hard, Then Do This Instead (Episode 18)

Updated: December 8, 2021

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Summary of Episode 18:

Referenced Article: Why Diets Don’t Work

For most people, the word budget brings out the negative emotion that they need to control their expenses. (2:20)

There are people who feel negatively about budgeting, whether consciously or subconsciously, because for them, the word budget means depriving yourself of things that you want, and it also connotes scarcity and may even induce feelings of self-pity. (3:08)

A spending plan is more focused on your expenses. (4:05)

When it comes to managing your income and expenses, changing your perspective towards creating a “spending plan” shifts your focus towards the things you both need and want. (6:27)

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How to optimize your spending plan. (9:02)

Following a spending plan becomes easier the more you do it, and like any other skill, you will eventually become better at following your spending plan and managing your money. (10:05)

A spending plan is powerful, because it makes you ask an important question”¦ “How can I afford all of these?” (11:53)

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  1. Thank you Fitz, very, VERY much for your effort to put this podcast together. Folks that have difficulty following a budget because they feel restricted will certainly get a physiological “lift” when they state “this is my spending plan.” Yes, a link for this episode definitely needs to be shared with anyone we know who will benefit from your words of wisdom.

  2. Wife kindly pointed out an error in my earlier post. It should have been “psychological lift” in my post. Note to self, avoid writing a post when super tired after trading ends for the night !!!

  3. Thank you Jack for the comment, and for sharing this to others. Hope everyone is safe there in your part of the world. 😀

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