4 basics of budget-free money management

A framework to gain a deeper understanding and a healthier relationship with money

Nearly every financial education, advising or coaching program starts with making a budget, because that’s what most of us were taught. But we’re not helping anyone by falling back on this harmful budget culture trope.

Doing away with the budget sounds radical and scary to a lot of people. That’s because all we’ve learned about money is through a budget culture lens. We’re convinced we don’t know how to manage money without applying a set of restrictions.

So, how do you work through a rejection of budgeting and learn to trust yourself to manage money without ruining your life?

Managing money in a satisfying and productive way without the constraints of budget culture means seeing the fluidity and nuances of money. Focus on these four areas of money to gain a deeper understanding and a healthier relationship with money:

• Resources: We don’t have to rely solely on “hard work” to provide for ourselves. Recognize the value of resources such as community support, government benefits, and credit and loans to meet your needs, and choose work that’s joyful and meaningful.

• Commitments: Understand common living expenses as choices we make and, therefore, choices we can uncommit from anytime. No financial commitment is an unchangeable obligation.

• Goals: Ask why before committing to a set of goals laid out in any financial plan. Debt payoff doesn’t have to be a top priority, and investing isn’t inevitable. Instead of adhering to someone else’s plan, we can investigate our options and make the money moves that support the experience we want.

• Spending: There’s no such thing as “wants versus needs.” Spending is morally neutral. Restrictive spending won’t overcome the systemic and personal forces behind our financial challenges.

Reject financial advice mired in budget culture restriction, shame and greed. Instead, participate in this new kind of conversation about money that teaches you to trust yourself and experience the life you want.

Read more in my first article for the Kiplinger Advisor Collective (they invited me into that club?! 🤷‍♀️).

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Teach the budget-free fundamentals (30% off!)

Are you a financial educator, coach or advisor ready to have a more expansive conversation about money with your clients?

My digital playbook gives you everything you need to introduce the framework above and incorporate the lessons from my Budget-Free Fundamentals series into your program. Help participants gain a fresh perspective on their relationship with money.

The Budget-Free Fundamentals Playbook for facilitators includes four modules with ready-made lessons, activities, reflection questions and quizzes you can apply in your classroom, community program, coaching practice or advisory work to guide participants in building a money map to add ease to financial decision making.

Become a paid subscriber to access this playbook and all Healthy Rich classes.

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Image by @Planetnehemiah via Nappy