The Stigma Around Budgeting

The “B” word is a word feared by many.  We see it when we meet our clients who are often overwhelmed, stressed out, down to their last dollar and advised that a B-B-Budget would be the key to unlocking their financial future.  We see it with other providers on the market saying that “budgets don’t work” and “what you have been taught about budgeting is all wrong.”  This negative connotation around budgeting sends a confusing and fearful message to the community about what a budget is, and this message is wrong.  A budget is amazing and it can really help to open doors for you and your financial future, and a budget should not be feared, but celebrated!

So why the fear?

People don’t like to be told that they can’t handle their money, and they think they will be “judged” for being in a position that is causing so much frustration and pain both financially and on their relationships.  Money stress is huge and as a society we are taught to not talk about it.  I remember at one of my jobs early in my career that we were never allowed to discuss our pay packets or our take home salary to our co-workers.  I never understood why, afterall it’s just money isn’t it?

Not all money is created equal…

What I didn’t realise is that everyone in the workplace was on a different salary.  There was no “one size-fits all model,” when it came to your salary.  The problem with being told “you can never speak about it,” means that me, and most Australians just don’t talk about money and we should!  The more we have an open conversation around money, the more we can all learn.  Imagine what the person sitting opposite you could teach you about money that would help to improve your life?  What if you took this information and applied it to your own life and you had money in the bank, your financial stress was reduced and your relationships improved?  Talking about money can help you have a much happier life!

What if I’m in a bad position?

If you consider yourself to be in a “bad” position with your cashflow then it becomes even more important that you do talk about your position to trusted professionals.  Yes, you can talk to your trusted friends, your partner, or trusted family members but consider what knowledge they impart on you.  Are they the experts in their field?  Do they have a system in place that can help you achieve what you want to achieve?  Although friends and family can think they are being helpful, and are coming from their hearts, in our experience they often lead people down the wrong path and you could end up in a much worse position in future.

Can you live a financially independent-debt free life?

Yes, you can!  It all starts with conversation and forward movement.  What goals do you want to achieve?  What actions are you taking that bring you closer to these goals?  What actions are pushing you backwards…?  Do you have a plan?  The truth is, we as humans, will always have some level of debt in our life.  If it’s not credit cards, it’s a mortgage, if not a mortgage, it’s rent, if you own your home outright, it’s council rates.  You need to fall in love with debt and have a positive relationship with your money.

Why fall in love with debt?

Because debt is necessary in our world, but it needs to be within your ratio!  Understand what debt is and how it affects you, learn more about debt so you don’t fear it, because the more you think you don’t want it, the more you will attract it!  If you choose to learn and embrace it, it will not have any power over you and you can come at debt from a place of love rather than fear.  When you learn to live with debt, you can have a happier financial life.

Budgeting is not a dirty word…

Savvy budgeting allows you and your partner to step up into life and embrace your future.  It will allow you both to discover your spending, your debt, and your goals, together.  If you are in a poor financial position, it can help to improve it.  If you are having challenges with your goals a budget can help you stick to them.  If you are having issues with “never having money available,” a budget can fix this.  Your relationship with your partner and your money will improve, your life will improve and you will wonder what you have always been stressing about this whole time!  An open conversation with your partner around cashflow is so very important so you are both on the same page and your goals are aligned.

Having the conversation

A budget does not mean baked beans on toast every night of the week!  It means living life your way, doing the things that are important to you, and making sure that you have your goals, lifestyle and debt needs met without any financial stress and a thorough understanding of your cashflow.  A budget will help you to improve your debt position so that debt does not become a financial anchor holding you back and not allowing you to move forward in life.

Improving your position

If you have been “budgeting” for years and you are always broke, and have kept the dialogue of the word “budget” strictly in-house within your relationship, then maybe it’s time to reach out.  We have seen many couples where one person in the relationship (typically the man), has been too proud to get help and has refused it putting great stress on the other person in the relationship.  Life is too short and an Adelaide Budgeting budget is simple.  Stop putting off your financial well-being and thinking that everything is going to be ok, especially if the track record shows the latter!

How much is your pride costing you?

If you are constantly struggling between the two of you, blaming each other for overspending then it’s time for help, time to end the embarrassment and time to end the struggling.  Pick up the phone and get in contact.  Let us help you both get on the right page and both get motivated together so you can start living the life you truly want to live.

  • Our solution is simple and easy to apply to your life.
  • We have helped clients increase their credit score by over 100 points in just 3 months!
  • We have helped clients eradicate massive amounts of unsecured debt and reclaim their life!
  • We have helped clients to see magic in their numbers by having clarity, CONFIDENCE and control around their cashflow.

But, most importantly, we have helped clients to reduce stress levels in their lives!

Now it is your turn to start enjoying life again.  WHAT ARE YOU WAITING FOR??

Book your complimentary appointment with us today!

For more information or to arrange an appointment please contact us:

Andrew and Alyssa Mates on 0420 846 454

or via email at:

“An effective budget is knowing which numbers belong where; and what the values of these numbers are to make the magic in your life happen…”

ABOUT THE AUTHOR

ANDREW MATES is the director, money coach and operator of Adelaide Budgeting and has always had a keen interest in numbers and the philosophy of succeeding financially in a world full of consumerism.  Andrew is a valued member of the team and is passionate about education and empowerment around finance and providing people with the confidence to successfully manage their own finances.  Equipped with a Diploma in Finance and Mortgage Broking (but not a broker), Andrew and his team can work with you to create a budget plan and savings strategy that is second to none which will see you kicking goals and doing the things you want to do but never thought you could!

In between helping clients and working on strategies, Andrew also enjoys walking on the beach, playing with Lilly his Labrador and road trips with his wife Alyssa.