(4 minute read)

It’s a story I’ve heard too many times before. I’m in a conversation with another friend who has confided in me that they are in debt, and it’s keeping them up at night. But when I ask them what their budget strategy is, they look at me with blank faces and tell me they don’t have one. And I think to myself, “how do they expect to get out of debt if they don’t have a budget?” The answer is, “they won’t.” 

Guys, this just breaks my heart because once you have a budget, getting yourself out of debt becomes a plan you can execute instead of a mystery you have to solve. But I know getting started budgeting can be scary, especially for beginners. And starting a budget begins with identifying and building just a few essential skills – Identify your “why,” practice consistency over perfection, and breathe. So grab a cup of coffee and fire up your favorite Spotify playlist (mine is “swagger”) because we are going to start building you a budget!

Identify your “why”

When I first started my budget journey, it came because I was tired of being afraid. I was tired of being afraid of looking at my credit card statement, waking up in the middle of the night in a cold sweat, and not knowing where I was going to get my next dollar. Once I decided I was tired of being afraid, it was easy to step up and decide to take hold of my financial freedom. But just like any goal, they rarely work unless you have a “why.” Why do you want to banish debt and build your pathway to financial freedom? 

I urge you to write it down and keep it somewhere close by. Seeing a daily reminder of why you started a budget and deciding to pursue a debt-free lifestyle will help you stay on track when things get tough. Feel free to download this “why I started my debt-free journey” poster to put wherever will motivate you most.

Practice consistency over perfection

One of the things I hear repeatedly is that people don’t want to start budgeting until they find the perfect app or the prettiest worksheet, or they have to buy a binder and build a spreadsheet to get started. Those are all MYTHS, and absolutely none of those things are needed to start building a budget. You can get started today with a piece of paper and a pen. Draw a line down the center of the page, and on the left side, write down the next 30 days. Then every day, simply log into your bank account and write down the balance of your bank account in the left column, and in the right column, write down any spending you made that day. SIMPLE! No need to stalk the stationery aisle at target for the prettiest journal when a simple piece of paper gets you started in no time!

The essential practice here is not for perfection – it’s for consistency. Just like building muscle or losing weight, building a habit takes 1) time and 2) consistency for it to stick. So before making any grandiose plans or purchasing any pretty systems to get you started, see if you can stick to the 1-page piece of paper method for 30 days. If it sticks, then you’ve built the #1 habit you need to be successful at your debt-free journey – consistency! 

Breathe

If you’ve decided to take the plunge with me, you may be feeling a little tense. Make sure you keep breathing. We’ll get through this together. Trust me. Anytime you start something new, there are going to be growing pains. It may take you days, weeks, or even months to get over the fear of looking at your bank account every day. THAT’S OKAY! It might seem awkward to you to write down every charge you make because you swear you already “know” what you are spending. That’s okay too! The point is to build the skills so that you can put on autopilot the function of budgeting and direct your precious time towards paying off your debt, saving more money, and getting yourself out of debt fast!

So if you find yourself spiraling out of control or feeling anxiety bubble up, sit down, close your eyes, and just breathe. 

If you made it to the end of this post congrats! You are one step closer to living debt-free. Challenge yourself and start your beginner’s budget RIGHT NOW. Don’t wait till tomorrow or Monday or the start of next month, find a piece of paper and a pencil and get busy. As always, do today what makes you happy and healthy!

Xoxo,
Amy