Not Your Grandma's Budget
Forget everything you know about traditional budgeting. The Spending Plan Method, based on the book Deeper Than Money by Chloe Elise, isn't about wagging a finger at your Starbucks habit or making you feel guilty about dropping $5 on the delicious ice cream cone you can never resist because it’s just so darn creamy. Instead, it's about being intentional with every dollar you spend. Rather than seeing budgeting through the lens of "can't have," it's about aligning your spending with what really matters to you by becoming aware of your values and goals, then mapping your spending accordingly.
What Makes The Spending Plan Method Different?
Here’s where the Spending Plan Method gets good. It’s not about sacrificing your happiness for a healthier bank balance. Who wants that kind of trade-off? The goal is to break down your expenses, categorize them and see if they jive with your goals and desires. Still paying for that meditation app you used exactly once for 45 seconds? Time to cut it loose. Spending on concert tickets for an ABBA tribute band? “Gimme, Gimme, Gimme” til your heart’s content, my friend!
It's like Marie Kondo-ing your finances. If it doesn't spark joy or serve an essential purpose, thank it and let it go.
The Mindset Makeover
The Spending Plan Method is as much about changing your relationship with money as it is about crunching numbers. It's about taking the driver's seat in your financial life instead of just hanging on for dear life in the passenger seat. At its heart, it's about saying "hell yes" to what matters and "no thanks" to what doesn't. No guilt. No shame. Just clarity.
Making It Work For You
Ready to give it a whirl? Here's how to get started:
Figure out your values: Before anything else, figure out what really matters to you. List your must-haves (roof over head, food, toys for your furry friend) and your want-to-haves (travel, fancy coffee, concert tickets). This becomes your money roadmap.
Face your bank statement: Grab a drink for this one if you have to, but it’s time to dive deep. What spending actually adds value to your life? What's just a money pit? This is where the Harry Potter level magic happens.
Get your life together: Whether you're an app person or old-school notebook and pen fan, organize your plan. Map out income, bills and fun money in order of importance. Start with things like bills and social events, then include smaller treats. This way, you know exactly where every dollar is going.
Check in regularly: Life happens. Maybe you went overboard on DoorDash this week. No biggie! Just adjust elsewhere or rein it in next week.
Keep it flexible: Enjoy that spontaneous road trip with friends without tallying the numbers in your head while you fill up the tank and grab some snacks. Your spending plan has room for plot twists so you can embrace fun without derailing your financial goals. It’s about finding that balance between structure and freedom.
The Payoff = Less Stress + More Living
The beauty of this method is better finances and a whole new relationship with money. Over time, you'll notice fewer impulse purchases eating away at your account, less money anxiety and more control over your future. A clear spending plan can help you stop running on the paycheck-to-paycheck hamster wheel and start living with purpose and intention. And that means more freedom to say yes to the things that matter to you!
