Have you ever felt like budgeting is just too hard or restrictive?
Maybe you’ve heard that budgeting means no fun, or that it’s only for people who love math and spreadsheets.
Let me stop you right there! These misconceptions about budgeting are not only untrue but could also be holding you back from living the life you deserve.
I know this firsthand because I’ve been there. All of my savings were wiped away during my first few months of college. I maxed out my first credit card in no time, and by my junior and senior years, I had multiple store cards and was out of control with spending.
I vividly remember getting my tax refund and heading straight to the mall to buy clothes, shoes, and accessories. I purchased so much that day, I accidentally threw out an $80 dress I hadn’t even taken out of the bag!
By the time I graduated, I was working a corporate job, but my financial habits hadn’t changed. I spent most of my paychecks on rent, bills, and dining out, with no money left in between.
It wasn’t until I faced eviction that I finally asked myself what was more important: staying in Los Angeles or continuing a fake lifestyle with nothing to show for it.
Slowly, I started creating budgets, paying down debt, and prioritizing my goals. After a life-changing move back to Austin in 2013, I expedited my progress, paying off thousands of dollars in credit card debt, saving aggressively, and using cash for purchases.
That turnaround taught me that if someone like me—who loves nice things, traveling, and dining out—could achieve financial freedom through budgeting, so could other women. And now, I’m here to help you do the same.
In this episode, I’m busting five common budgeting myths that might be holding you back. Whether you’re avoiding a budget or need a mindset refresh, this episode is your guide to overcoming the myths and stepping into financial confidence.
Here’s a glance at this episode:
- [03:05] When you rely on a mental budget, you’re leaving so much room for error. We can’t remember or account for everything in our head.
- [06:42] Just because you never learned how to budget in the past doesn’t mean that you can’t learn or succeed with budgeting in the present.
- [09:15] When it comes to creating your budget, there are certain numbers that you do need to know, but you don’t have to be responsible for always calculating them.
- [13:40] A budget should include the things you love and/or saving for the things that truly matter to you.
- [16:53] You can’t predict the future. Certain things will come up that we can’t plan for. That means you need to believe it’s okay to be fluid with your budget.
“A budget isn’t about perfection; it’s about making progress toward your goals.”
What You’ll Learn in This Episode:
Why mental budgeting doesn’t work and the simple strategies to stay organized.
How to overcome generational cycles and make budgeting part of your financial future.
Why you don’t need to be a math whiz to create a successful budget.
How budgeting gives you more room for fun, not less.
Why it’s okay to go over your budget occasionally—and how to bounce back with grace.
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Resources mentioned in this episode:
Listen to Episode 3 – Breaking Through the Stigma of Budgeting
Let Raya create a budget plan for you!
Learn about Raya’s Financial Focus Coaching Program
Follow City Girl Savings on Instagram, YouTube, and TikTok
Join the City Girl Savings Facebook Group
Subscribe to the City Girl Savings Newsletter!
