A lot of people seem to dread the word "budget". The impact of such dread can be dramatic, at every level, from families, to entire nations.
Yes, I know it sounds difficult, limiting and boring to control where money goes. Why should someone only spend X on Y? Why not 2X?
The reality, as obvious as it may sound, is simple: Budgeting is a way to ground yourself to your current reality and to help you achieve self control in relation to where your money goes. Yes, dream about the possibilities, focus and work hard on making 10X your current income (as many gurus call for). But, guess what? Even when you make 10X your current income, you'll still need to control where your money goes.
See, to me, budgeting is a very important step for a healthy financial life: It allows you to discern where to put your money and where not to do it. It's a way to review your priorities and to ensure that you spend according to them. That's it.
Yes, as simple as that. Your budget's job is one and one only, to answer this question: You have X to spend per month, where is it going to go? Your budget (I'm still looking for a better way to call it) does not limit you. It does not judge you. It does not accuse you of anything. It simply reflects what's important to you.
And, you know what? Budgeting can actually be a liberating exercise. It can even be a tool to bring long-lasting joy to the world, to your world. Why? Because you have complete control over it. I don't care if you make $50,000 or millions per year. The way you spend should be a reflection of your highest priorities, not of your whims or, worse, the whims of others.
My heart sinks every time I see a story of another celebrity, professional athlete or lottery winner that fell from their wealth and into a financial abyss: They're people that had, financially, every chance to maintain their wealth even well beyond their lifetimes, but those chances are shattered by instant gratification, by the call of the sirens that distracted them from their true selves and led them to financial (and emotional) ruin.
What would happen if you treated your budget as an expression of your most deeply help values? What would change in the way you spend? How would you feel about your money choices?