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What Does "I'm On a Budget" Really Mean?

Updated: Nov 12, 2021

Many times, phrases are used so often that we lose sight of their true meaning. Take the phrase "I'm on a budget" as an example. A good friend of mine once told me he never wants to give off the idea that he can’t afford something, so he’s always open to going out, eating at new restaurants, and never turning down an event invite. In his opinion, declining an outing, planned or unplanned, wasn't an option because the phrase “I’m on a budget” is oftentimes attributed to being "broke" or unable to afford something. While that phrase may or may not mean you have a spending plan in place, “it’s not in my budget” says “I actually made a plan for (this week/pay period/month), and this wasn't in it.”

Budgeting can be simple, yet life-changing for some, and even intimidating to others. A budget is simply a plan — you create it to tell your money where and when to go. To have and maintain a budget is one of the best things you can do with your money because it gives you options on where and how you can spend your money. Even when bills are tight, you can see where your money is going and set a plan for the future to adjust your funds around for your financial well-being. As long as you're disciplined and being true to yourself and your finances, “it’s not in my budget” is an affirmation that you're doing something right. Continue tackling your finances by making those plans for your money, and most importantly, always remember to put something aside for your most valuable asset: YOU.

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